secwatch.observer — SEC 8-K summary
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Issuer:     Rithm Property Trust Inc. (RPT)
CIK:        0001614806
Form:       8-K
Filed at:   2024-05-03T23:59:59+00:00
Accession:  0001628280-24-020293
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Great Ajax Q1 net loss $74.3M, operating loss $4.8M, book value drops to $6.87
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- GAAP net loss attributable to common stockholders of $74.3M ($2.41 loss per basic share); operating loss of $4.8M ($0.16/share).
- Net interest income $1.6M, down from $3.2M in Q4 2023; total revenue loss of $49.4M.
- Book value per common share fell to $6.87 from $9.99 at Dec 31, 2023.
- Accrued $15.5M manager termination fee ($0.50/share); moved $421.6M UPB loans to held-for-sale, recording $47.3M mark-to-market loss.
- Repaid $103.5M of 2024 Convertible Notes at maturity on April 30, 2024; cash held $100.1M at March 31.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1614806/000162828024020293/0001628280-24-020293-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1614806/000162828024020293/ajx-20240503.htm
  HTML page:      https://secwatch.observer/filing/0001628280-24-020293

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer