Rithm Property Trust Inc. 8-K

What Happened Rithm Property Trust (RPT) filed an 8-K on July 13, 2026 disclosing preliminary, unaudited results for the three and six months ended June 30, 2026 and providing a reconciliation to its non‑GAAP measure “earnings available for distribution” (EAD). Management reported a small positive range for Q2 GAAP comprehensive income and a year‑to‑date GAAP loss range, while EAD for the periods showed ranges that include negative amounts. The company noted these figures are preliminary, subject to quarter‑end closing procedures and audit review, and expects to file final results on or before August 12, 2026.

Key Details

• GAAP comprehensive income (preliminary): Three months ended June 30, 2026 — $79k to $853k; Six months ended June 30, 2026 — $(3,092)k to $(2,324)k.
• GAAP comprehensive income per diluted share: Q2 — $0.01 to $0.11; Six months — $(0.40) to $(0.30). Diluted share counts used: 7,745,779 (Q2) and 7,684,474 (six months).
• Earnings Available for Distribution (non‑GAAP): Q2 — $(623)k to $151k (per share $(0.08) to $0.02); Six months — $(928)k to $(160)k (per share $(0.12) to $(0.02)). Reconciliation adjusts for realized/unrealized gains and items like amortization, transaction costs and taxes.
• Book value estimate at June 30, 2026: $235M–$236M total, or $30.25–$30.35 per share, based on 7,772,564 shares outstanding.
• Financing/transactions: An affiliate of Rithm Capital indicated interest in buying common stock and potentially a new non‑voting convertible preferred in a concurrent private placement at the same price as a public offering; proceeds (plus available cash and borrowings) are expected to fund acquisition of a portfolio of multifamily transition loans from Rithm Capital affiliates and other corporate uses.

Why It Matters These preliminary results show Rithm is managing through volatility in investment gains/losses and interest margins—GAAP shows a modest Q2 income range but a year‑to‑date loss range, while EAD (management’s operating metric) also ranges into negative territory for the periods reported. Book value per share around $30.3 gives investors a snapshot of net asset value as of June 30, 2026. The disclosed affiliate interest in a concurrent private placement and the planned use of offering proceeds to buy loans from affiliates are material because they signal affiliated support for the financing and link capital raising to specific portfolio acquisitions. All numbers are preliminary, unaudited and subject to change when final results are filed.