FORTRESS CREDIT REALTY INCOME TRUST 8-K

What Happened

• Fortress Credit Realty Income Trust filed an 8‑K on April 20, 2026 reporting net asset value (NAV) as of March 31, 2026. Total NAV was $1,321,133 (amounts shown in the filing are in thousands — i.e., $1.321 billion) with 66,094 outstanding shares (reported in the table as 66,094, i.e., 66.094 million shares). NAV per share by class ranged roughly from $19.8697 to $20.1153.
• The filing also provided a month‑over‑month comparison to February 28, 2026: total NAV was $1,291,064 ($1.291 billion) with 64,581 outstanding shares. This implies an increase in reported NAV of about $30.07 million and an increase in outstanding shares from Feb to Mar.

Key Details

• Total NAV (Mar 31, 2026): $1,321,133 (amounts in filing are in thousands = $1.321B). Outstanding shares: 66,094 (table units = ~66.094M shares).
• NAV per share by class (Mar 31, 2026):
  • Class B: $20.0252
  • Class R: $19.8789
  • Class J‑1: $19.8856
  • Class J‑2: $19.8697
  • Class J‑4: $20.1153
  • Class S: $20.0891
  • Class I: $20.0815
  • Class E: $20.0059
• Major NAV components (Mar 31, 2026, amounts in filing = thousands):
  • Commercial real estate loan investments: $2,428,080 ($2.428B)
  • Investments in real estate‑related assets: $386,297 ($386.3M)
  • Cash & equivalents: $208,494 ($208.5M)
  • Secured debt arrangements (liability): $(1,505,192) ($(1.505B))
  • Revolving credit facilities (liability): $(227,214) ($(227.2M))
• Comparison to Feb 28, 2026: total NAV rose from $1,291,064 to $1,321,133 and shares increased from 64,581 to 66,094.

Why It Matters

• NAV disclosures give investors a snapshot of the trust’s reported asset value and a per‑share benchmark (here, about $20 per share) that can be used to gauge whether market prices trade at a discount or premium to reported NAV.
• The month‑over‑month increase in NAV (~$30.1M) and the growth in outstanding shares may reflect new capital inflows, asset valuation changes, or portfolio activity; investors should compare NAV per share and market price, and review other filings for drivers and context.
• This 8‑K is informational (NAV reporting) rather than an earnings release or corporate-action notice; it does not report operating earnings or executive changes.