Teachers Retirement System of The State of Kentucky acquired a new position in shares of Rithm Capital Corp. (NYSE:RITM – Free Report) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 138,000 shares of the real estate investment trust’s stock, valued at approximately $1,308,000.
Other hedge funds and other institutional investors have also bought and sold shares of the company. CoreCap Advisors LLC boosted its position in Rithm Capital by 99.2% during the 4th quarter. CoreCap Advisors LLC now owns 2,295 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 1,143 shares during the last quarter. Los Angeles Capital Management LLC acquired a new stake in shares of Rithm Capital in the fourth quarter valued at approximately $26,000. FNY Investment Advisers LLC acquired a new stake in shares of Rithm Capital in the fourth quarter valued at approximately $31,000. Garton & Associates Financial Advisors LLC bought a new stake in shares of Rithm Capital in the fourth quarter worth $31,000. Finally, Torren Management LLC bought a new stake in shares of Rithm Capital in the fourth quarter worth $35,000. Institutional investors and hedge funds own 44.92% of the company’s stock.
Analyst Upgrades and Downgrades
Several research analysts recently commented on the stock. Keefe, Bruyette & Woods reduced their target price on shares of Rithm Capital from $14.00 to $13.00 and set an “outperform” rating for the company in a report on Friday, May 1st. Piper Sandler cut their price target on shares of Rithm Capital from $14.00 to $12.50 and set an “overweight” rating on the stock in a research report on Thursday, July 2nd. BTIG Research cut their price target on shares of Rithm Capital from $16.00 to $13.00 and set a “buy” rating on the stock in a research report on Tuesday, June 16th. JonesTrading restated a “buy” rating and set a $13.50 price objective on shares of Rithm Capital in a research note on Tuesday, April 28th. Finally, Weiss Ratings cut Rithm Capital from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, May 26th. Ten research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $13.20.
Rithm Capital Stock Performance
RITM opened at $9.24 on Thursday. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 4.02. Rithm Capital Corp. has a 12-month low of $8.43 and a 12-month high of $12.74. The business has a 50 day moving average of $9.26 and a 200-day moving average of $9.97. The stock has a market cap of $5.16 billion, a price-to-earnings ratio of 8.48 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 earnings per share 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 business had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.27 billion. On average, equities research analysts expect that Rithm Capital Corp. will post 2.23 earnings per share for the current year.
Rithm Capital Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Thursday, July 2nd will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 10.8%. The ex-dividend date of this dividend is Thursday, July 2nd. Rithm Capital’s payout ratio is 91.74%.
Insider Activity at Rithm Capital
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 shares were sold at an average price of $9.25, for a total value of $748,528.50. Following the transaction, the director directly owned 44,248 shares in the company, valued at $409,294. The trade was a 64.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.57% of the stock is currently owned by corporate insiders.
Rithm Capital Company 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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