Rockefeller Capital Management L.P. increased its holdings in shares of Rithm Capital Corp. (NYSE:RITM – Free Report) by 47.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 311,705 shares of the real estate investment trust’s stock after acquiring an additional 99,880 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in Rithm Capital were worth $3,398,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also bought and sold shares of RITM. AQR Capital Management LLC grew its position in shares of Rithm Capital by 20.4% during the 1st quarter. AQR Capital Management LLC now owns 77,625 shares of the real estate investment trust’s stock worth $889,000 after purchasing an additional 13,166 shares in the last quarter. NewEdge Advisors LLC boosted its stake in shares of Rithm Capital by 5.3% in the first quarter. NewEdge Advisors LLC now owns 31,311 shares of the real estate investment trust’s stock valued at $359,000 after buying an additional 1,585 shares during the period. Goldman Sachs Group Inc. grew its position in Rithm Capital by 75.6% during the first 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 in the last quarter. Geneos Wealth Management Inc. increased its stake in 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 worth $81,000 after acquiring an additional 881 shares during the period. Finally, M&T Bank Corp raised its holdings in Rithm Capital by 13.9% in the 2nd 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 in the last quarter. Institutional investors and hedge funds own 44.92% of the company’s stock.
Wall Street Analyst Weigh In
Several analysts have recently issued reports on the company. Weiss Ratings lowered Rithm Capital from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, May 26th. JonesTrading reiterated a “buy” rating and set a $13.50 price objective on shares of Rithm Capital in a research note on Tuesday, April 28th. Wedbush dropped their target price on shares of Rithm Capital from $14.00 to $12.50 and set an “outperform” rating for the company in a research report on Friday, May 1st. Capital One Financial set a $12.50 price target on shares of Rithm Capital in a report on Thursday, April 9th. Finally, Citigroup reissued an “outperform” rating on shares of Rithm Capital in a research note on Wednesday, May 20th. Ten equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $13.35.
Insider Buying and Selling at Rithm Capital
In related news, Director David Saltzman sold 80,922 shares of the business’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $9.25, for a total value of $748,528.50. Following the sale, the director owned 44,248 shares of the company’s stock, valued at $409,294. The trade was a 64.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 0.57% of the stock is currently owned by corporate insiders.
Rithm Capital Stock Performance
NYSE:RITM opened at $9.37 on Monday. The stock’s 50-day moving average is $9.46 and its 200-day moving average is $10.15. Rithm Capital Corp. has a 1-year low of $8.43 and a 1-year high of $12.74. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 4.02. The stock has a market cap of $5.23 billion, a P/E ratio of 8.60 and a beta of 1.14.
Rithm Capital (NYSE:RITM – Get Free Report) last posted its earnings results on Tuesday, April 28th. The real estate investment trust reported $0.51 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.02). Rithm Capital had a return on equity of 19.48% and a net margin of 14.44%.The business had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.27 billion. Equities research analysts anticipate that Rithm Capital Corp. will post 2.27 earnings per share 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 issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 10.7%. The ex-dividend date is Thursday, July 2nd. Rithm Capital’s payout ratio is 91.74%.
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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