RPT(US:RPT)2025-10-31 12:00Financial Performance & Position - Rithm Property Trust (RPT) reported a GAAP Comprehensive Income loss of $04 million, or a loss of $001 per diluted share, and an Earnings Available for Distribution (EAD) loss of $07 million, or a loss of $002 per diluted share for Q3 2025[10] - As of September 30, 2025, RPT had $814 million in cash and cash equivalents and total equity of $2915 million, with a GAAP book value of $530 per common share[10] - RPT paid a common stock dividend of $006 per share for the third quarter of 2025[10] Investment Portfolio & Strategy - Rithm Property Trust has an active investment pipeline of over $2 billion[8] - The company's CRE portfolio has an Unpaid Principal Balance (UPB) of $308 million[8] - RPT is transitioning to a portfolio focused on high-quality CRE assets, targeting an illustrative portfolio yield of 12-16%[14] - The target yield for Commercial Mortgage-Backed Securities is 10-12%, with an existing portfolio UPB of $274 million and a current levered yield of 12%[14] - The target yield for Senior Loans is 10-14%, with an existing portfolio UPB of $17 million and a current levered yield of 14-16%[14] Management & Market Opportunity - Rithm Property Trust is externally managed by an affiliate of Rithm Capital, which has grown from $1 billion in equity to $85 billion[9] - RPT originated a $21 million loan on a grocery-anchored retail center outside of Seattle in August 2025, with $17 million funded at close, an 113% going-in debt yield, and a 52% appraised Loan-to-Value (LTV)[11]