Lucid Capital initiated coverage of Rithm Property Trust with a Buy rating. Rithm is commercial mortgage real estate investment trust with a portfolio that includes commercial loans and securities, the analyst tells investors in a research note. The company's dividend has not been fully covered since 2022, but this will change in 2026 as it deploys capital into higher-yielding commercial real estate debt positioned further down the capital stack, contends Lucid. It expects the shares to garner a higher multiple as the dividend gets covered.
