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Rithm Property Trust Shares Rise After Terminating Proposed Public Offering

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Rithm Property Trust (RPT) shares were up nearly 15% in Tuesday trading after the company said in a filing with the US Securities and Exchange Commission that it has terminated the proposed public offering of its common stock based on an assessment of the current market conditions.

As a result, no shares of the company's common stock or preferred stock are being sold in the public offering or the concurrent private offering, and the company will not acquire a portfolio of multifamily residential transition loans, it added.

Price: $12.20, Change: $+1.57, Percent Change: +14.77%

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