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On Monday, Rithm Property Trust Inc. (NYSE:RPT), a real estate investment trust with a market capitalization of $130 million, announced the adoption of its Third Amended and Restated Bylaws, with immediate effect. The board of directors approved the changes, which include the removal of outdated references and clarification regarding the designation of the company’s officers. The company has maintained consistent dividend payments for 11 consecutive years, currently offering an attractive 8.76% dividend yield.
The amendments do not reflect a change in the company’s fiscal year, which remains unchanged. Rithm Property Trust, previously known as Great Ajax Corp (NYSE:AJX)., is incorporated in Maryland and has its executive offices in New York, NY.
The updated bylaws are part of the company’s regular governance and compliance processes. These administrative updates are a common practice for public companies to ensure their governing documents remain current and effective.
The details of the Amended Bylaws are available in the full text of the document filed with the SEC, which is referenced in the company’s latest 8-K filing. This filing serves as the official record of the amendments and is available for public review.
Rithm Property Trust specializes in real estate investments, and its common stock, along with its 9.875% Series C Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock, is listed on the New York Stock Exchange under the symbols RPT and RPT PRC, respectively.
The information provided in this article is based on the company’s recent SEC filing.
In other recent news, Rithm Property Trust has appointed Ernst & Young LLP (EY) as its new auditor, replacing Moss Adams LLP. This change will take effect on March 7, 2025, for the fiscal year ending December 31, 2025. The decision, approved by the company’s Audit Committee and Board of Directors, follows a thorough evaluation process. Moss Adams’s audit reports for the fiscal years 2023 and 2024 did not contain any adverse opinions or qualifications, and there were no disagreements between Rithm Property Trust and Moss Adams during those periods. The company complied with SEC regulations by providing disclosures regarding the dismissal to Moss Adams and obtaining a letter from them agreeing with the company’s statements. Rithm Property Trust did not consult with EY on any accounting principles or transactions that would impact their financial statements during the relevant periods. This change was documented in a Form 8-K filing with the SEC.
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