Insider Selling: Rithm Capital (NYSE:RITM) Insider Sells 19,285 Shares of Stock

Rithm Capital Corp. (NYSE:RITM) insider David Zeiden sold 19,285 shares of the firm’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of $11.11, for a total value of $214,256.35. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Rithm Capital Price Performance

Rithm Capital stock traded down $0.01 on Tuesday, reaching $10.86. The company’s stock had a trading volume of 7,100,589 shares, compared to its average volume of 5,028,785. Rithm Capital Corp. has a twelve month low of $9.13 and a twelve month high of $12.74. The company has a market cap of $6.02 billion, a price-to-earnings ratio of 7.49 and a beta of 1.30. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.45 and a current ratio of 0.45. The business’s fifty day moving average price is $11.30 and its 200 day moving average price is $11.60.

Rithm Capital (NYSE:RITM) last issued its quarterly earnings results on Thursday, October 30th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.54. Rithm Capital had a net margin of 17.08% and a return on equity of 18.82%. The business had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.07 billion. Equities analysts expect that Rithm Capital Corp. will post 1.93 earnings per share for the current fiscal year.

Rithm Capital Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Wednesday, October 1st were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 9.2%. The ex-dividend date of this dividend was Wednesday, October 1st. Rithm Capital’s dividend payout ratio is 68.97%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on RITM shares. Jones Trading restated a “buy” rating and issued a $13.50 price objective on shares of Rithm Capital in a research report on Thursday, October 30th. Weiss Ratings restated a “buy (b-)” rating on shares of Rithm Capital in a research report on Thursday. UBS Group raised their price target on Rithm Capital from $14.00 to $16.00 and gave the company a “buy” rating in a report on Wednesday, September 3rd. Royal Bank Of Canada boosted their price objective on Rithm Capital from $13.00 to $14.00 and gave the stock an “outperform” rating in a report on Friday, August 1st. Finally, BTIG Research restated a “buy” rating and set a $16.00 target price on shares of Rithm Capital in a research report on Wednesday, September 17th. One investment analyst has rated the stock with a Strong Buy rating and nine have assigned a Buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $14.25.

Hedge Funds Weigh In On Rithm Capital

Several institutional investors have recently modified their holdings of the business. CWM LLC increased its stake in Rithm Capital by 25.5% during the 1st quarter. CWM LLC now owns 6,046 shares of the real estate investment trust’s stock worth $69,000 after purchasing an additional 1,228 shares in the last quarter. Wealthfront Advisers LLC boosted its stake in Rithm Capital by 50.5% in the 1st quarter. Wealthfront Advisers LLC now owns 18,535 shares of the real estate investment trust’s stock worth $212,000 after purchasing an additional 6,217 shares during the period. Victory Capital Management Inc. boosted its stake in Rithm Capital by 115.9% in the 1st quarter. Victory Capital Management Inc. now owns 514,206 shares of the real estate investment trust’s stock worth $5,888,000 after purchasing an additional 276,018 shares during the period. Private Advisor Group LLC increased its holdings in Rithm Capital by 2.0% during the 1st quarter. Private Advisor Group LLC now owns 50,461 shares of the real estate investment trust’s stock worth $578,000 after purchasing an additional 974 shares in the last quarter. Finally, Allianz Asset Management GmbH boosted its position in shares of Rithm Capital by 13.7% during the first quarter. Allianz Asset Management GmbH now owns 2,654,621 shares of the real estate investment trust’s stock worth $30,395,000 after buying an additional 320,357 shares during the period. Institutional investors own 44.92% of the company’s stock.

About Rithm Capital

Rithm Capital Corp. operates as an asset manager focused on real estate, credit, and financial services. It operates through Origination and Servicing, Investment Portfolio, Mortgage Loans Receivable, and Asset Management segments. Its investment portfolio primarily comprises of mortgage servicing rights (MSR), and MSR financing receivables, title, appraisal and property preservation, excess MSRs, and services advance investments; real estate securities, call rights, SFR properties, and residential mortgage loans; consumer and business purpose loans; and asset management related investments.