Rithm Capital (NYSE:RITM) Director David Saltzman Sells 80,922 Shares

Rithm Capital Corp. (NYSE:RITMGet Free Report) Director David Saltzman sold 80,922 shares of Rithm Capital stock in a transaction that occurred 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 completion of the transaction, the director owned 44,248 shares of the company’s stock, valued at $409,294. This trade represents a 64.65% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Rithm Capital Price Performance

Rithm Capital stock opened at $9.27 on Friday. The business’s fifty day moving average is $9.59 and its two-hundred day moving average is $10.50. The firm has a market cap of $5.17 billion, a P/E ratio of 8.50 and a beta of 1.17. The company has a debt-to-equity ratio of 4.02, a quick ratio of 1.28 and a current ratio of 1.28. Rithm Capital Corp. has a 52 week low of $8.43 and a 52 week high of $12.74.

Rithm Capital (NYSE:RITMGet Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.02). Rithm Capital had a return on equity of 19.48% and a net margin of 14.44%.The company had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.27 billion. Equities research analysts forecast that Rithm Capital Corp. will post 2.27 earnings per share for the current fiscal year.

Rithm Capital Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 30th. Investors of record on Monday, April 6th were issued a $0.25 dividend. The ex-dividend date was Monday, April 6th. This represents a $1.00 annualized dividend and a yield of 10.8%. Rithm Capital’s dividend payout ratio (DPR) is currently 91.74%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Western Wealth Management LLC bought a new position in Rithm Capital in the 1st quarter valued at about $62,000. Janus Henderson Group PLC lifted its stake in shares of Rithm Capital by 15.6% in the 1st quarter. Janus Henderson Group PLC now owns 259,927 shares of the real estate investment trust’s stock valued at $2,465,000 after acquiring an additional 35,000 shares during the last quarter. Arkadios Wealth Advisors bought a new position in Rithm Capital in the first quarter valued at about $206,000. Altshuler Shaham Ltd boosted its position in Rithm Capital by 100.0% during the 1st quarter. Altshuler Shaham Ltd now owns 3,600 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 1,800 shares during the period. Finally, Amundi grew its stake in shares of Rithm Capital by 261.1% in the first quarter. Amundi now owns 65,992 shares of the real estate investment trust’s stock worth $626,000 after purchasing an additional 47,716 shares during the last quarter. Institutional investors own 44.92% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on RITM shares. Citigroup reiterated an “outperform” rating on shares of Rithm Capital in a report on Wednesday. Piper Sandler dropped their price objective on shares of Rithm Capital from $15.00 to $14.00 and set an “overweight” rating on the stock in a report on Thursday, April 2nd. Keefe, Bruyette & Woods lowered their target price on Rithm Capital from $14.00 to $13.00 and set an “outperform” rating for the company in a report on Friday, May 1st. Royal Bank Of Canada lowered their price objective on shares of Rithm Capital from $14.00 to $13.00 and set an “outperform” rating on the stock in a report on Friday, May 1st. Finally, Wedbush lowered their price target on Rithm Capital from $14.00 to $12.50 and set an “outperform” rating on the stock in a research report on Friday, May 1st. Nine analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $13.61.

View Our Latest Stock Report on RITM

About Rithm Capital

(Get Free Report)

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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