Picton Mahoney Asset Management Makes New Investment in Rithm Capital Corp. $RITM

Picton Mahoney Asset Management purchased a new position in shares of Rithm Capital Corp. (NYSE:RITM) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 73,362 shares of the real estate investment trust’s stock, valued at approximately $836,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Curi Capital LLC increased its holdings in Rithm Capital by 0.7% in the 2nd quarter. Curi Capital LLC now owns 120,262 shares of the real estate investment trust’s stock valued at $1,358,000 after purchasing an additional 829 shares in the last quarter. Geneos Wealth Management Inc. increased its holdings in Rithm Capital by 14.3% in the first quarter. Geneos Wealth Management Inc. now owns 7,031 shares of the real estate investment trust’s stock valued at $81,000 after buying an additional 881 shares during the last quarter. Signaturefd LLC boosted its holdings in Rithm Capital by 2.3% in the third quarter. Signaturefd LLC now owns 45,012 shares of the real estate investment trust’s stock worth $513,000 after purchasing an additional 1,009 shares during the period. CI Investments Inc. grew its holdings in shares of Rithm Capital by 37.8% during the third quarter. CI Investments Inc. now owns 4,046 shares of the real estate investment trust’s stock valued at $46,000 after purchasing an additional 1,109 shares during the last quarter. Finally, US Bancorp DE lifted its stake in Rithm Capital by 4.1% in the third quarter. US Bancorp DE now owns 29,297 shares of the real estate investment trust’s stock valued at $334,000 after buying an additional 1,141 shares during the last quarter. 44.92% of the stock is owned by institutional investors and hedge funds.

Rithm Capital Price Performance

Shares of RITM stock opened at $9.66 on Friday. Rithm Capital Corp. has a 52 week low of $9.13 and a 52 week high of $12.74. The stock’s fifty day moving average is $10.92 and its 200-day moving average is $11.26. The stock has a market capitalization of $5.37 billion, a PE ratio of 9.29 and a beta of 1.21. The company has a debt-to-equity ratio of 2.20, a quick ratio of 0.58 and a current ratio of 0.58.

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

Rithm Capital Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 30th. Stockholders of record on Wednesday, December 31st were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 10.4%. The ex-dividend date was Wednesday, December 31st. Rithm Capital’s payout ratio is presently 96.15%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Weiss Ratings restated a “hold (c+)” rating on shares of Rithm Capital in a research report on Monday, December 29th. UBS Group set a $15.00 price objective on shares of Rithm Capital in a research note on Friday, February 6th. Wedbush started coverage on shares of Rithm Capital in a research note on Monday, December 15th. They set an “outperform” rating and a $14.00 target price for the company. Keefe, Bruyette & Woods restated an “outperform” rating on shares of Rithm Capital in a report on Thursday, December 18th. Finally, Wall Street Zen upgraded Rithm Capital from a “hold” rating to a “buy” rating in a report on Saturday. Seven equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, Rithm Capital presently has a consensus rating of “Moderate Buy” and an average price target of $14.50.

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.