Rithm Property Trust Announces $10 Million Common Stock Repurchase Program
Rithm Property Trust Inc. (NYSE:RPT, "RPT" or the "Company")) announced today that its Board of Directors authorized the repurchase of up to an aggregate amount of $10 million of the Company's Common Stock through March 1, 2027. Repurchases may be made in the open market, through privately negotiated transactions, block trades or other means, in accordance with applicable securities laws, including through repurchase plans complying with the rules and regulations of the Securities and Exchange Commission. The Company is not required to repurchase any shares of Common Stock. The timing, price and actual number of shares of Common Stock repurchased will depend on a variety of factors, including price, market conditions and regulatory requirements. Repurchases may be commenced or suspended at any time without prior notice. The new repurchase program replaces any prior share repurchase authorization.
ABOUT RITHM PROPERTY TRUST
Rithm Property Trust is a real estate investment vehicle externally managed by an affiliate of Rithm Capital Corp. (NYSE:RITM). The Company operates a flexible commercial real estate focused investment strategy. Rithm Property Trust is a Maryland corporation that is organized and conducts its operations to qualify as a real estate investment trust (REIT) for federal income tax purposes.
FORWARD-LOOKING STATEMENTS
This press release contains certain information which constitutes "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Words such as "may," "will," "seek," "believes," "intends," "expects," "projects," "anticipates," "plans" and "future" or similar expressions are intended to identify forward-looking statements. These statements are not historical facts. These forward-looking statements represent management's current expectations regarding future events and are subject to the inherent uncertainties in predicting future results and conditions, many of which are beyond our control. Accordingly, you should not place undue reliance on any forward-looking statements contained herein. For a discussion of some of the risks and important factors that could affect such forward-looking statements see the sections entitled "Cautionary Statement Regarding Forward-Looking Statements", "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" in the Company's most recent annual and quarterly reports and other filings filed with the Securities and Exchange Commission. The Company expressly disclaims any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by law.
Source: Rithm Property Trust Inc.
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