Rithm Property Trust returns to profit in Q2 but distributable earnings stay negative

Rithm Property Trust, a U.S. commercial real estate REIT, reported Q2 GAAP comprehensive income after a loss in the prior quarter.

Earnings available for distribution stayed negative, though the loss narrowed from the previous quarter.

The company maintained its common dividend at $0.36 per share.

The current average analyst rating on the shares is "buy", with 3 "strong buy" or "buy" ratings, 1 "hold", and no "sell" or "strong sell" ratings.

The average consensus recommendation for the commercial REITs peer group is "buy".

Wall Street's median 12-month price target for Rithm Property Trust Inc is $24.00, about 102% above its July 27 closing price of $11.88.

The company said higher versus the prior quarter contributed to improved results.