v3.25.4
CONSOLIDATED BALANCE SHEETS - USD ($)
$ in Thousands
Dec. 31, 2025
Dec. 31, 2024
Assets    
Cash and cash equivalents $ 79,321 $ 64,252
Restricted cash 811 0
Residential mortgage loans held-for-investment, net [1] 362,829 396,052
Residential mortgage loans held-for-sale, net 29,419 27,788
Other investments [2] 79,168 30,454
Other assets 26,249 14,263
Total assets 1,041,527 977,339
Liabilities    
Secured bonds payable, net [1] 226,243 258,353
Repurchase financing agreements 407,072 356,565
Unsecured notes, net 108,507 107,647
Accrued expenses and other liabilities 8,608 8,006
Total Liabilities 750,430 730,571
Commitments and Contingencies – see Note 8
Stockholders’ Equity    
Preferred Stock, $0.01 par value, 25,000,000 shares authorized, 2,084,232 and 0 shares issued and outstanding, $52,106 and $0 aggregate liquidation preference, respectively 50,785 0
Common Stock $0.01 par value, 125,000,000 shares authorized, 7,848,703 and 7,847,520 shares issued and 7,571,699 and 7,570,125 shares outstanding, respectively(5) [3] 76 471
Additional paid-in capital 425,703 425,039
Treasury stock (11,596) (11,594)
Accumulated deficit (171,768) (158,003)
Accumulated other comprehensive loss (1,647) (8,991)
Stockholders' Equity in Rithm Property Trust Inc. 291,553 246,922
Noncontrolling interests (456) (154)
Total Stockholders’ Equity 291,097 246,768
Total Liabilities and Equity 1,041,527 977,339
CMBS    
Assets    
Commercial mortgage-backed securities, at fair value [4] 273,783 246,614
RMBS    
Assets    
Residential mortgage-backed securities [5] $ 189,947 $ 197,916
[1] ortgage loans held-for-investment, net includes $361.6 million and $394.6 million of loans as of December 31, 2025 and 2024, respectively, transferred to consolidated securitization trusts. These loans can only be used to settle obligations of the trusts. Secured bonds payable, net consists of notes issued by the trusts that can only be settled with the assets and cash flows of the specific trust. The creditors do not have recourse to Rithm Property Trust Inc.
[2] ncludes equity investments at fair value of $61.6 million and $21.9 million, as of December 31, 2025 and 2024, respectively.
(5)The prior period share and per share amounts were adjusted to reflect the impact of the one-for-six reverse stock split of the Company’s common stock which took effect on December 30, 2025. Unless otherwise indicated, all share and per share amounts have been retroactively adjusted to reflect the reverse stock split.
[3] The prior period share and per share amounts were adjusted to reflect the impact of the one-for-six reverse stock split of the Company’s common stock which took effect on December 30, 2025. Unless otherwise indicated, all share and per share amounts have been retroactively adjusted to reflect the reverse stock split.
[4] Commercial mortgage-backed securities, at fair value (“CMBS”) had amortized cost of $273.4 million and $245.5 million, as of December 31, 2025 and 2024, respectively.
[5] Includes residential mortgage-backed securities (“RMBS”) available-for-sale (“AFS”), at fair value of $49.2 million and $62.2 million, which had amortized cost of $48.8 million and $68.2 million, as of December 31, 2025 and 2024, respectively. RMBS investments in beneficial interests carried at amortized cost are net of loss allowance of $0 and $9.1 million as of December 31, 2025 and 2024, respectively.