secwatch.observer — SEC 8-K summary
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Issuer:     Rithm Property Trust Inc. (RPT)
CIK:        0001614806
Form:       8-K
Filed at:   2023-11-02T23:59:59+00:00
Accession:  0001628280-23-036415
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Great Ajax reports Q3 net loss of $6.1M, book value down; terminates Ellington merger, starts strategic review
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- Q3 GAAP net loss $(6.1)M ($(0.25)/share); operating loss $(2.3)M ($(0.09)/share).
- Book value per share fell to $11.07 from $11.86 in Q2; net interest income $3.0M.
- Merger with Ellington Financial terminated Oct 20; Ellington paid $16M and bought 1.67M shares at $6.60.
- Formed two JVs acquiring $325.3M UPB of mortgage loans; retained $57.9M in debt securities.
- Dividend reduced to $0.11/share payable Nov 30; board engaged Piper Sandler to explore strategic alternatives.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1614806/000162828023036415/0001628280-23-036415-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1614806/000162828023036415/ajx-20231102.htm
  HTML page:      https://secwatch.observer/filing/0001628280-23-036415

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