Capula Management Ltd acquired a new position in Rithm Capital Corp. (NYSE:RITM – Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 272,699 shares of the real estate investment trust’s stock, valued at approximately $2,585,000.
Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its stake in Rithm Capital by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 50,282,841 shares of the real estate investment trust’s stock valued at $548,083,000 after purchasing an additional 1,191,923 shares during the last quarter. State Street Corp boosted its stake in Rithm Capital by 5.3% during the 4th quarter. State Street Corp now owns 10,557,874 shares of the real estate investment trust’s stock worth $117,701,000 after purchasing an additional 530,607 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Rithm Capital by 4.8% during the fourth quarter. Geode Capital Management LLC now owns 9,621,935 shares of the real estate investment trust’s stock worth $104,904,000 after buying an additional 443,144 shares in the last quarter. Qube Research & Technologies Ltd grew its holdings in shares of Rithm Capital by 80.7% during the third quarter. Qube Research & Technologies Ltd now owns 7,890,987 shares of the real estate investment trust’s stock worth $89,878,000 after buying an additional 3,524,330 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Rithm Capital in the fourth quarter valued at about $77,067,000. Institutional investors and hedge funds own 44.92% of the company’s stock.
Rithm Capital Trading Down 1.5%
RITM opened at $8.99 on Friday. Rithm Capital Corp. has a 52 week low of $8.43 and a 52 week high of $12.74. The business has a fifty day simple moving average of $9.21 and a 200-day simple moving average of $9.90. The firm has a market cap of $5.02 billion, a P/E ratio of 8.25 and a beta of 1.14. 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 Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Thursday, July 2nd will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 11.1%. The ex-dividend date of this dividend is Thursday, July 2nd. Rithm Capital’s payout ratio is currently 91.74%.
Analysts Set New Price Targets
A number of research firms recently weighed in on RITM. Weiss Ratings lowered shares of Rithm Capital from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, May 26th. Citizens Jmp increased their price objective on shares of Rithm Capital from $12.50 to $13.50 and gave the company a “market outperform” rating in a report on Wednesday, May 20th. Citigroup reissued an “outperform” rating on shares of Rithm Capital in a research note on Wednesday, May 20th. UBS Group lowered their target price on Rithm Capital from $15.00 to $14.50 and set a “buy” rating on the stock in a report on Friday, April 10th. Finally, Wall Street Zen lowered Rithm Capital from a “hold” rating to a “sell” rating in a research report on Monday, July 6th. Ten equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Rithm Capital has an average rating of “Moderate Buy” and a consensus target price of $13.20.
Get Our Latest Research Report on RITM
Insider Transactions at Rithm Capital
In other Rithm Capital news, Director David Saltzman sold 80,922 shares of the business’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $9.25, for a total transaction of $748,528.50. Following the sale, the director directly owned 44,248 shares in the company, valued at $409,294. This represents a 64.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.57% of the stock is owned by company 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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