** Mortgage REIT Rithm Property Trust's RPT.N shares down 3.4% at $13.50 before the bell on Tues as it seeks equity raise

** New York City-based RPT late Mon kicked off $300 mln stock offering, per the prospectus filing

** To the extent offering proceeds are less than $300 mln, an affiliate of Rithm Capital RITM.N, RPT's external manager, indicated interest in purchasing $200 mln of shares in a concurrent private placement

** RPT intends to use net proceeds from transactions to acquire a portfolio of multifamily residential transition loans from RITM, and for other investments and general purposes

** Goldman Sachs, RBC, UBS, Wells Fargo, BTIG, KBW and Piper Sandler joint bookrunners

** RPT has ~7.8 mln shares outstanding for roughly $110 mln market cap

** At Mon close, shares down ~16% YTD

** Avg rating of 4 brokerages is "buy"; median PT $24, per LSEG data