Rithm Capital Corp. $RITM Shares Acquired by Greenland Capital Management LP

Greenland Capital Management LP increased its stake in shares of Rithm Capital Corp. (NYSE:RITM) by 134.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 58,703 shares of the real estate investment trust’s stock after buying an additional 33,703 shares during the period. Greenland Capital Management LP’s holdings in Rithm Capital were worth $663,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RITM. Geneos Wealth Management Inc. lifted its position in shares of Rithm Capital by 14.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 7,031 shares of the real estate investment trust’s stock valued at $81,000 after acquiring an additional 881 shares during the period. GAMMA Investing LLC raised its holdings in Rithm Capital by 19.1% during the second quarter. GAMMA Investing LLC now owns 5,528 shares of the real estate investment trust’s stock worth $62,000 after purchasing an additional 887 shares during the last quarter. Sheaff Brock Investment Advisors LLC raised its holdings in Rithm Capital by 8.8% during the first quarter. Sheaff Brock Investment Advisors LLC now owns 11,725 shares of the real estate investment trust’s stock worth $134,000 after purchasing an additional 945 shares during the last quarter. Private Advisor Group LLC boosted its position in Rithm Capital by 2.0% during the first 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, Townsquare Capital LLC grew its holdings in Rithm Capital by 3.7% in the first quarter. Townsquare Capital LLC now owns 30,439 shares of the real estate investment trust’s stock valued at $349,000 after purchasing an additional 1,088 shares during the last quarter. 44.92% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

RITM has been the topic of several recent research reports. Jones Trading reiterated a “buy” rating and issued a $13.50 price objective on shares of Rithm Capital in a research report on Thursday, October 30th. 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. Wedbush reissued an “outperform” rating and set a $14.00 price objective on shares of Rithm Capital in a research note on Wednesday, August 6th. Royal Bank Of Canada lifted their price objective on Rithm Capital from $13.00 to $14.00 and gave the stock an “outperform” rating in a research report on Friday, August 1st. Finally, Keefe, Bruyette & Woods increased their target price on Rithm Capital from $13.50 to $14.00 and gave the company an “outperform” rating in a report on Tuesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating and nine have given a Buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $14.25.

Insider Buying and Selling

In other news, CEO Michael Nierenberg sold 301,548 shares of the firm’s stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $11.00, for a total value of $3,317,028.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider David Zeiden sold 19,285 shares of the company’s stock in a transaction on Friday, November 14th. The stock was sold at an average price of $11.11, for a total transaction of $214,256.35. The disclosure for this sale is available in the SEC filing. 0.44% of the stock is currently owned by corporate insiders.

Rithm Capital Stock Down 0.3%

Shares of NYSE RITM opened at $10.84 on Thursday. The stock has a market capitalization of $6.01 billion, a PE ratio of 7.47 and a beta of 1.30. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 1.52. The firm has a fifty day moving average of $11.24 and a 200-day moving average of $11.59. Rithm Capital Corp. has a 52-week low of $9.13 and a 52-week high of $12.74.

Rithm Capital (NYSE:RITM) last issued its earnings results on Thursday, October 30th. The real estate investment trust reported $0.54 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.54. Rithm Capital had a return on equity of 18.82% and a net margin of 17.08%.The firm had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.07 billion. On average, analysts anticipate that Rithm Capital Corp. will post 1.93 EPS for the current year.

Rithm Capital Dividend Announcement

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

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.