Rithm Capital Corp. $RITM Shares Acquired by Moore Capital Management LP

Moore Capital Management LP increased its stake in shares of Rithm Capital Corp. (NYSE:RITM) by 22.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,505,000 shares of the real estate investment trust’s stock after buying an additional 275,000 shares during the quarter. Moore Capital Management LP’s holdings in Rithm Capital were worth $17,142,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in RITM. Bessemer Group Inc. raised its stake in 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 acquiring an additional 2,306 shares during the last quarter. Atlantic Union Bankshares Corp purchased a new position in shares of Rithm Capital in the 3rd quarter valued at approximately $31,000. Mather Group LLC. acquired a new position in shares of Rithm Capital in the third quarter valued at approximately $33,000. Optimum Investment Advisors increased its holdings in shares of Rithm Capital by 200.0% in the third quarter. Optimum Investment Advisors now owns 3,000 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 2,000 shares during the period. Finally, Valley Wealth Managers Inc. purchased a new stake in shares of Rithm Capital during the third quarter worth approximately $46,000. Institutional investors and hedge funds own 44.92% of the company’s stock.

Rithm Capital Stock Performance

Shares of RITM stock opened at $9.40 on Tuesday. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 2.20. The stock has a 50 day simple moving average of $10.76 and a 200-day simple moving average of $11.13. The company has a market cap of $5.22 billion, a price-to-earnings ratio of 9.03 and a beta of 1.21. Rithm Capital Corp. has a 12-month low of $9.13 and a 12-month high of $12.74.

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

Rithm Capital Dividend Announcement

The business also recently announced 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. This represents a $1.00 annualized dividend and a dividend yield of 10.6%. The ex-dividend date was Wednesday, December 31st. Rithm Capital’s payout ratio is presently 96.15%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on RITM shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Rithm Capital in a report on Monday, December 29th. Wall Street Zen raised shares of Rithm Capital from a “hold” rating to a “buy” rating in a research note on Saturday, March 7th. Piper Sandler restated an “overweight” rating and set a $15.00 price objective (down from $15.50) on shares of Rithm Capital in a research report on Wednesday, February 4th. Wedbush began 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, UBS Group set a $15.00 target price on shares of Rithm Capital in a report on Friday, February 6th. Seven 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.com, the company has an average rating of “Moderate Buy” and a consensus price target of $14.50.

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.