Vanguard Group Inc. Reduces Stake in Rithm Capital Corp. $RITM

Vanguard Group Inc. lessened its position in shares of Rithm Capital Corp. (NYSE:RITM) by 0.9% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 49,090,918 shares of the real estate investment trust’s stock after selling 458,353 shares during the quarter. Vanguard Group Inc. owned 8.86% of Rithm Capital worth $559,146,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Bessemer Group Inc. grew its stake in shares of Rithm Capital by 658.9% during the 3rd quarter. Bessemer Group Inc. now owns 2,656 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 2,306 shares during the period. Cullen Frost Bankers Inc. bought a new stake in Rithm Capital during the second quarter valued at approximately $30,000. Atlantic Union Bankshares Corp bought a new position in Rithm Capital in the third quarter worth approximately $31,000. Mather Group LLC. bought a new position in Rithm Capital in the third quarter worth approximately $33,000. Finally, Optimum Investment Advisors boosted its stake in shares of Rithm Capital by 200.0% during the 3rd quarter. Optimum Investment Advisors now owns 3,000 shares of the real estate investment trust’s stock worth $34,000 after acquiring an additional 2,000 shares during the last quarter. Institutional investors own 44.92% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently commented on RITM shares. Weiss Ratings restated a “hold (c+)” rating on shares of Rithm Capital in a research note on Monday, December 29th. Wedbush assumed coverage on Rithm Capital in a research note on Monday, December 15th. They issued an “outperform” rating and a $14.00 price objective on the stock. Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of Rithm Capital in a research note on Thursday, December 18th. JonesTrading restated a “buy” rating and set a $13.50 target price on shares of Rithm Capital in a research note on Thursday, October 30th. Finally, Piper Sandler reiterated an “overweight” rating and issued a $15.00 price target (down from $15.50) on shares of Rithm Capital in a research report on Wednesday, February 4th. Seven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $14.50.

Rithm Capital Price Performance

Shares of Rithm Capital stock opened at $10.14 on Wednesday. The firm has a market cap of $5.64 billion, a PE ratio of 9.75 and a beta of 1.20. The stock has a 50 day moving average of $11.10 and a 200 day moving average of $11.37. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 2.20. Rithm Capital Corp. has a 12 month low of $9.13 and a 12 month high of $12.74.

Rithm Capital (NYSE:RITM) last issued its quarterly earnings data on Tuesday, February 3rd. The real estate investment trust reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.19. Rithm Capital had a return on equity of 19.74% and a net margin of 15.55%.The business had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.24 billion. On average, research analysts expect that Rithm Capital Corp. will post 1.93 EPS for the current fiscal year.

Rithm Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 30th. Shareholders of record on Wednesday, December 31st were given a dividend of $0.25 per share. The ex-dividend date was Wednesday, December 31st. This represents a $1.00 annualized dividend and a yield of 9.9%. Rithm Capital’s dividend payout ratio (DPR) is 96.15%.

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.