Rithm Property Trust authorizes $10 million stock buyback program

Rithm Property Trust Inc. (NYSE: RPT) announced that its board of directors authorized the repurchase of up to $10 million of the company's common stock through March 1, 2027.

The repurchases may be conducted through open market transactions, privately negotiated deals, block trades or other methods in accordance with securities laws, including plans that comply with Securities and Exchange Commission rules and regulations. The company is not obligated to repurchase any shares.

The timing, price and actual number of shares repurchased will depend on various factors including stock price, market conditions and regulatory requirements. Repurchases may be started or suspended at any time without prior notice.

The new repurchase program replaces any previous share repurchase authorization, according to the company's statement.

Rithm Property Trust operates as a real estate investment trust focused on commercial real estate investments. The company is externally managed by an affiliate of Rithm Capital Corp. (NYSE: RITM) and is organized as a Maryland corporation qualifying as a REIT for federal income tax purposes.

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