Great Ajax Corp ( (RPT) ) has released its Q4 earnings. Here is a breakdown of the information Great Ajax Corp presented to its investors.
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Rithm Property Trust, formerly known as Great Ajax Corp, is a real estate investment platform focused on commercial real estate, operating as a real estate investment trust (REIT) for federal income tax purposes. The company has recently transitioned its strategy to focus more on commercial real estate investments.
In its recent earnings report, Rithm Property Trust announced a GAAP net income of $2.9 million for the fourth quarter of 2024, translating to $0.06 per diluted share. This marks a significant recovery from a net loss of $8 million in the previous quarter.
Key highlights from the quarter include the acquisition of $154 million in commercial mortgage-backed securities (CMBS), increasing their total investment to $244 million. Furthermore, the company maintained a stable book value per common share at $5.44 and declared a common dividend of $0.06 per share.
Looking forward, Rithm Property Trust remains optimistic about its strategic repositioning and its potential to enhance shareholder value. The management emphasizes its commitment to long-term objectives in the commercial real estate sector, aiming to build on the positive momentum achieved in the fourth quarter.
