RNY Property Trust stock has leapt, despite reporting a $50.6 million annual loss. The trust, formerly Reckson New York Property Trust, has been hit harder than other Australian real estate investment trusts (A-REITs) due to its portfolio of US office buildings. The stock is up about 10 per cent since the latest result but has plummeted 94 per cent since its record high in February 2007. Many A-REITs with overseas exposure like Macquarie CountryWide Trust and DEXUS Property Group are offloading overseas assets. RNY's portfolio is now valued at $US410.9 million ($491.4 million) after a write-down for the last six months of $US26.5 million, or 6.1 per cent. It also has $US44 million in debt maturing next month and has suspended unitholder distributions "to strengthen its capital position, increase liquidity and reduce debt". Close $0.85