Maryland State Retirement & Pension System lifted its holdings in shares of Rithm Capital Corp. (NYSE:RITM – Free Report) by 335.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 105,762 shares of the real estate investment trust’s stock after buying an additional 81,491 shares during the period. Maryland State Retirement & Pension System’s holdings in Rithm Capital were worth $1,003,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. raised its position in Rithm Capital by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 50,282,841 shares of the real estate investment trust’s stock worth $548,083,000 after buying an additional 1,191,923 shares during the last quarter. State Street Corp boosted its holdings in shares of Rithm Capital by 5.3% during the 4th quarter. State Street Corp now owns 10,557,874 shares of the real estate investment trust’s stock valued at $117,701,000 after acquiring an additional 530,607 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of Rithm Capital by 4.8% during the 4th quarter. Geode Capital Management LLC now owns 9,621,935 shares of the real estate investment trust’s stock valued at $104,904,000 after acquiring an additional 443,144 shares during the last quarter. Qube Research & Technologies Ltd grew its stake in shares of Rithm Capital by 80.7% in the third quarter. Qube Research & Technologies Ltd now owns 7,890,987 shares of the real estate investment trust’s stock worth $89,878,000 after acquiring an additional 3,524,330 shares during the period. Finally, Norges Bank purchased a new position in shares of Rithm Capital during the fourth quarter valued at approximately $77,067,000. 44.92% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling at Rithm Capital
In other news, Director David Saltzman sold 80,922 shares of Rithm Capital stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $9.25, for a total transaction of $748,528.50. Following the transaction, the director owned 44,248 shares in the company, valued at $409,294. This trade represents a 64.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.57% of the stock is owned by corporate insiders.
Wall Street Analysts Forecast Growth
Check Out Our Latest Stock Report on RITM
Rithm Capital Price Performance
Shares of NYSE:RITM opened at $9.43 on Friday. The firm’s 50 day moving average price is $9.25 and its 200-day moving average price is $9.96. Rithm Capital Corp. has a twelve month low of $8.43 and a twelve month high of $12.74. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 4.02. The stock has a market capitalization of $5.26 billion, a PE ratio of 8.65 and a beta of 1.14.
Rithm Capital (NYSE:RITM – Get Free Report) last posted its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.02). The business had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.27 billion. Rithm Capital had a return on equity of 19.48% and a net margin of 14.44%. Equities research analysts expect that Rithm Capital Corp. will post 2.23 EPS for the current year.
Rithm Capital Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Thursday, July 2nd will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 10.6%. The ex-dividend date is Thursday, July 2nd. Rithm Capital’s dividend payout ratio (DPR) is currently 91.74%.
About Rithm Capital
Rithm Capital Corporation is a specialty finance company that originates, acquires and manages structured credit investments collateralized by real estate assets in the United States. The company focuses primarily on senior floating-rate loans secured by multifamily, commercial, industrial and single-family rental properties, aiming to deliver attractive risk-adjusted yields through a diversified portfolio of floating-rate real estate debt.
In addition to senior loans, Rithm Capital invests in residential mortgage-backed securities, including agency and non-agency pools, as well as other real estate-related credit instruments.
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