Rithm Capital Corp. $RITM Shares Sold by Allianz Asset Management GmbH

Allianz Asset Management GmbH trimmed its holdings in Rithm Capital Corp. (NYSE:RITM) by 12.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,933,019 shares of the real estate investment trust’s stock after selling 279,312 shares during the quarter. Allianz Asset Management GmbH owned about 0.36% of Rithm Capital worth $22,017,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Westbourne Investment Advisors Inc. purchased a new position in Rithm Capital during the 2nd quarter worth $593,000. JPMorgan Chase & Co. grew its holdings in shares of Rithm Capital by 16.6% during the second quarter. JPMorgan Chase & Co. now owns 1,415,844 shares of the real estate investment trust’s stock worth $15,985,000 after buying an additional 201,720 shares during the last quarter. Thrivent Financial for Lutherans increased its position in Rithm Capital by 108.7% in the 2nd quarter. Thrivent Financial for Lutherans now owns 188,633 shares of the real estate investment trust’s stock valued at $2,129,000 after acquiring an additional 98,269 shares during the period. Y Intercept Hong Kong Ltd raised its stake in Rithm Capital by 459.2% during the 3rd quarter. Y Intercept Hong Kong Ltd now owns 239,007 shares of the real estate investment trust’s stock valued at $2,722,000 after acquiring an additional 196,265 shares during the last quarter. Finally, Synergy Asset Management LLC purchased a new stake in Rithm Capital during the 3rd quarter valued at approximately $2,821,000. Institutional investors and hedge funds own 44.92% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on RITM shares. Piper Sandler reissued an “overweight” rating and issued a $15.00 target price (down previously from $15.50) on shares of Rithm Capital in a report on Wednesday. Weiss Ratings reiterated a “hold (c+)” rating on shares of Rithm Capital in a research report on Monday, December 29th. Jones Trading reissued a “buy” rating and issued a $13.50 price objective on shares of Rithm Capital in a research note on Thursday, October 30th. Wedbush initiated coverage on shares of Rithm Capital in a research note on Monday, December 15th. They issued an “outperform” rating and a $14.00 target price for the company. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of Rithm Capital in a research note on Thursday, December 18th. Seven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $14.50.

Insider Buying and Selling

In other Rithm Capital news, insider David Zeiden sold 19,285 shares of the business’s stock in a transaction on Friday, November 14th. The stock was sold at an average price of $11.11, for a total transaction of $214,256.35. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.44% of the company’s stock.

Rithm Capital Stock Performance

Shares of RITM opened at $10.74 on Friday. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 1.52. Rithm Capital Corp. has a 52-week low of $9.13 and a 52-week high of $12.74. The company has a 50-day simple moving average of $11.27 and a 200-day simple moving average of $11.53. The company has a market capitalization of $5.95 billion, a PE ratio of 10.33 and a beta of 1.20.

Rithm Capital (NYSE:RITM) last issued its earnings results on Tuesday, February 3rd. The real estate investment trust reported $0.74 earnings per share for the quarter, topping the consensus estimate of $0.55 by $0.19. Rithm Capital had a net margin of 15.55% and a return on equity of 20.19%. The company had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.24 billion. Equities research analysts predict that Rithm Capital Corp. will post 1.93 earnings per share for the current fiscal year.

Rithm Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 30th. Investors of record on Wednesday, December 31st were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $1.00 annualized dividend and a yield of 9.3%. Rithm Capital’s payout ratio is currently 96.15%.

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.