BlueCrest Capital Management Ltd boosted its stake in Rithm Capital Corp. (NYSE:RITM – Free Report) by 37.8% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,046,427 shares of the real estate investment trust’s stock after purchasing an additional 561,819 shares during the quarter. Rithm Capital comprises 0.6% of BlueCrest Capital Management Ltd’s portfolio, making the stock its 22nd largest position. BlueCrest Capital Management Ltd’s holdings in Rithm Capital were worth $19,216,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. AQR Capital Management LLC boosted its holdings in shares of Rithm Capital by 20.4% in the 1st quarter. AQR Capital Management LLC now owns 77,625 shares of the real estate investment trust’s stock valued at $889,000 after purchasing an additional 13,166 shares during the last quarter. NewEdge Advisors LLC raised its position in shares of Rithm Capital by 5.3% in the 1st quarter. NewEdge Advisors LLC now owns 31,311 shares of the real estate investment trust’s stock worth $359,000 after buying an additional 1,585 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Rithm Capital by 75.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,539,483 shares of the real estate investment trust’s stock worth $17,627,000 after buying an additional 662,585 shares during the period. Geneos Wealth Management Inc. boosted its holdings in Rithm Capital by 14.3% in the first 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 last quarter. Finally, M&T Bank Corp boosted its holdings in Rithm Capital by 13.9% in the second quarter. M&T Bank Corp now owns 26,173 shares of the real estate investment trust’s stock valued at $296,000 after acquiring an additional 3,200 shares during the last quarter. Institutional investors and hedge funds own 44.92% of the company’s stock.
Wall Street Analysts Forecast Growth
Several equities research analysts have commented on RITM shares. Citizens Jmp upped their price target on Rithm Capital from $12.50 to $13.50 and gave the stock a “market outperform” rating in a research note on Wednesday, May 20th. Piper Sandler decreased their target price on Rithm Capital from $14.00 to $12.50 and set an “overweight” rating for the company in a report on Thursday, July 2nd. UBS Group dropped their target price on shares of Rithm Capital from $14.50 to $14.00 and set a “buy” rating for the company in a research report on Friday, August 21st. Weiss Ratings upgraded shares of Rithm Capital from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, August 25th. Finally, Compass Point began coverage on shares of Rithm Capital in a research report on Monday, June 8th. They set a “buy” rating and a $14.00 price target on the stock. Ten research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $13.15.
Insider Buying and Selling
In other Rithm Capital news, Director Peggy Hebard sold 14,520 shares of the company’s stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $10.18, for a total value of $147,813.60. Following the completion of the transaction, the director owned 82,259 shares in the company, valued at $837,396.62. This represents a 15.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.57% of the company’s stock.
Rithm Capital Trading Down 1.0%
NYSE:RITM opened at $9.86 on Thursday. The business’s 50-day moving average is $9.77 and its two-hundred day moving average is $9.63. The company has a debt-to-equity ratio of 2.19, a current ratio of 0.76 and a quick ratio of 0.76. Rithm Capital Corp. has a 12 month low of $8.43 and a 12 month high of $12.68. The firm has a market capitalization of $5.50 billion, a PE ratio of 16.43, a price-to-earnings-growth ratio of 0.63 and a beta of 1.12.
Rithm Capital (NYSE:RITM – Get Free Report) last issued its earnings results on Tuesday, July 28th. The real estate investment trust reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.50 by $0.10. Rithm Capital had a return on equity of 19.86% and a net margin of 9.20%. Research analysts predict that Rithm Capital Corp. will post 2.26 earnings per share for the current fiscal year.
Rithm Capital Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Thursday, July 2nd were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, July 2nd. This represents a $1.00 annualized dividend and a yield of 10.1%. Rithm Capital’s payout ratio is 166.67%.
Rithm Capital Profile
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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