Rithm Capital (NYSE:RITM) Director Sells $748,528.50 in Stock

Rithm Capital Corp. (NYSE:RITM) Director David Saltzman sold 80,922 shares of the stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $9.25, for a total value of $748,528.50. Following the completion of the sale, the director owned 44,248 shares of the company’s stock, valued at $409,294. The trade was a 64.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Rithm Capital Trading Up 0.1%

NYSE:RITM traded up $0.01 during trading hours on Friday, hitting $9.27. 3,456,180 shares of the company were exchanged, compared to its average volume of 9,774,925. The stock has a market capitalization of $5.17 billion, a price-to-earnings ratio of 8.50 and a beta of 1.17. Rithm Capital Corp. has a one year low of $8.43 and a one year high of $12.74. The company has a fifty day simple moving average of $9.60 and a 200 day simple moving average of $10.50. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 4.02.

Rithm Capital (NYSE:RITM) last released its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.02). The company had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.27 billion. Rithm Capital had a net margin of 14.44% and a return on equity of 19.48%. Sell-side analysts expect that Rithm Capital Corp. will post 2.27 EPS for the current fiscal year.

Rithm Capital Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, April 30th. Investors of record on Monday, April 6th were issued a $0.25 dividend. The ex-dividend date was Monday, April 6th. This represents a $1.00 annualized dividend and a yield of 10.8%. Rithm Capital’s dividend payout ratio is presently 91.74%.

Wall Street Analyst Weigh In

RITM has been the subject of several analyst reports. Wedbush lowered their price target on shares of Rithm Capital from $14.00 to $12.50 and set an “outperform” rating for the company in a report on Friday, May 1st. Wall Street Zen cut shares of Rithm Capital from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Capital One Financial set a $12.50 target price on shares of Rithm Capital in a research note on Thursday, April 9th. Royal Bank Of Canada dropped their target price on shares of Rithm Capital from $14.00 to $13.00 and set an “outperform” rating on the stock in a report on Friday, May 1st. Finally, JonesTrading reaffirmed a “buy” rating and set a $13.50 price target on shares of Rithm Capital in a research report on Tuesday, April 28th. Nine equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $13.61.

Hedge Funds Weigh In On Rithm Capital

Institutional investors and hedge funds have recently modified their holdings of the business. CoreCap Advisors LLC grew its position in shares of Rithm Capital by 99.2% during the 4th quarter. CoreCap Advisors LLC now owns 2,295 shares of the real estate investment trust’s stock worth $25,000 after buying an additional 1,143 shares during the period. Los Angeles Capital Management LLC acquired a new position in shares of Rithm Capital during the 4th quarter valued at $26,000. Bessemer Group Inc. lifted its position 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 acquiring an additional 2,306 shares during the period. Atlantic Union Bankshares Corp bought a new position in Rithm Capital during the third quarter worth $31,000. Finally, FNY Investment Advisers LLC acquired a new stake in Rithm Capital in the fourth quarter worth $31,000. 44.92% of the stock is currently owned by institutional investors.

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.