Moore Capital Management LP boosted its stake in shares of Rithm Capital Corp. (NYSE:RITM – Free Report) by 6.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,600,000 shares of the real estate investment trust’s stock after acquiring an additional 95,000 shares during the quarter. Moore Capital Management LP’s holdings in Rithm Capital were worth $17,440,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in the stock. Evolve Private Wealth LLC bought a new stake in Rithm Capital during the fourth quarter worth approximately $154,000. Engineers Gate Manager LP increased its stake in Rithm Capital by 7.2% during the fourth quarter. Engineers Gate Manager LP now owns 342,743 shares of the real estate investment trust’s stock worth $3,736,000 after acquiring an additional 23,166 shares during the last quarter. Alden Global Capital LLC increased its stake in Rithm Capital by 24.7% during the fourth quarter. Alden Global Capital LLC now owns 461,576 shares of the real estate investment trust’s stock worth $5,031,000 after acquiring an additional 91,500 shares during the last quarter. AQR Capital Management LLC grew its stake in shares of Rithm Capital by 17.7% during the fourth quarter. AQR Capital Management LLC now owns 2,938,778 shares of the real estate investment trust’s stock valued at $32,033,000 after buying an additional 441,920 shares during the last quarter. Finally, Cetera Investment Advisers grew its stake in shares of Rithm Capital by 64.9% during the fourth quarter. Cetera Investment Advisers now owns 1,140,937 shares of the real estate investment trust’s stock valued at $12,436,000 after buying an additional 448,908 shares during the last quarter. 44.92% of the stock is owned by institutional investors.
Rithm Capital Stock Down 1.7%
Shares of NYSE RITM opened at $9.18 on Thursday. The company has a debt-to-equity ratio of 4.02, a quick ratio of 1.28 and a current ratio of 1.28. The firm has a market capitalization of $5.12 billion, a price-to-earnings ratio of 8.42 and a beta of 1.14. The stock has a 50 day moving average price of $9.56 and a 200 day moving average price of $10.25. Rithm Capital Corp. has a 52-week low of $8.43 and a 52-week high of $12.74.
Rithm Capital Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Thursday, April 30th. Shareholders of record on Monday, April 6th were issued a dividend of $0.25 per share. The ex-dividend date was Monday, April 6th. This represents a $1.00 dividend on an annualized basis and a yield of 10.9%. Rithm Capital’s dividend payout ratio is currently 91.74%.
Analyst Upgrades and Downgrades
RITM has been the topic of a number of analyst reports. Wedbush cut their target price on Rithm Capital from $14.00 to $12.50 and set an “outperform” rating on the stock in a research note on Friday, May 1st. Citizens Jmp upped their target price on Rithm Capital from $12.50 to $13.50 and gave the company a “market outperform” rating in a research note on Wednesday, May 20th. Keefe, Bruyette & Woods cut their target price on Rithm Capital from $14.00 to $13.00 and set an “outperform” rating on the stock in a research note on Friday, May 1st. BTIG Research cut their target price on Rithm Capital from $16.00 to $13.00 and set a “buy” rating on the stock in a research note on Tuesday. Finally, Wall Street Zen cut Rithm Capital from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. Ten research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, Rithm Capital has an average rating of “Moderate Buy” and an average price target of $13.35.
Read Our Latest Analysis on RITM
Insiders Place Their Bets
In other Rithm Capital news, Director David Saltzman sold 80,922 shares of the company’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $9.25, for a total transaction of $748,528.50. Following the completion of the sale, the director owned 44,248 shares in the company, valued at $409,294. This represents a 64.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.57% of the stock is currently owned by corporate insiders.
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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