What guidance did Rithm Property's management provide for the next earnings period?

Did Rithm Property beat or miss consensus estimates last quarter?

What is the revenue and EPS growth rate for Rithm Property year over year?

What is Rithm Property's latest dividend and current dividend yield?

What does Rithm Property do and what are its main business segments?

What were the key takeaways from Rithm Property’s earnings call?

What is the market's earnings forecast for Rithm Property next quarter?

What were the key takeaways from Rithm Property's earnings call?

- **Paramount Deal Breakthrough**: $6.6B acquisition of 13M sq. ft. Class A offices at 75% discount to replacement cost, targeting 20% returns.
- **Direct Lending Growth**: $21M loan closed Q3, $100M cash on hand for selective commercial lending.
- **Value Unlocking**: 52% discount to book value ($5.30 vs. $2.40) with no legacy issues, exploring equity offerings or auction process.
- **Strategic Focus**: Shifting from residential to commercial, with Genesis lending platform integration for scale.

**【Management Opening Remarks】**
- Michael Nierenberg highlighted the company's stabilization since taking over in June 2025, with a focus on liquidating residential assets and adding higher-yielding commercial real estate floaters.
- Discussed three strategic options: recapitalizing with an equity offering, exploring liquidation, or staying the course while seeking growth opportunities.

**【CEO Commentary】**
- Announced a $6.6 billion deal to acquire 13 million sq. ft. of Class A office properties in NYC and SF, targeting a 7% cap rate and 20% returns.
- Emphasized the company's clean balance sheet with no legacy issues, contrasting with peers facing credit challenges.
- Highlighted a $100 million cash position and plans to deploy into direct lending, with a $21 million loan closed this quarter.
- Discussed potential equity offerings to capitalize on the 52% discount to book value ($5.30 vs. $2.40 stock price).

**【Q&A Highlights】**
- Paramount Deal Economics: RPT could invest $50 million for a 2x MOIC and 20% IRR, with third-party capital readily available.
- Direct Lending Focus: Passing on high-risk deals like NYC rent-stabilized loans, prioritizing selective commercial lending.
- Liquidity Strategy: Exploring options to unlock value, including a potential auction process to realize book value.

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