Private Advisor Group LLC Reduces Position in Rithm Capital Corp. $RITM

Private Advisor Group LLC reduced its holdings in Rithm Capital Corp. (NYSE:RITM) by 63.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,453 shares of the real estate investment trust’s stock after selling 92,967 shares during the period. Private Advisor Group LLC’s holdings in Rithm Capital were worth $497,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RITM. Curi Capital LLC grew its stake in Rithm Capital by 0.7% during 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 acquiring an additional 829 shares in the last quarter. Geneos Wealth Management Inc. lifted its stake in Rithm Capital by 14.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 7,031 shares of the real estate investment trust’s stock worth $81,000 after purchasing an additional 881 shares in the last quarter. City Holding Co. boosted its holdings in shares of Rithm Capital by 35.1% during the 4th quarter. City Holding Co. now owns 3,850 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 1,000 shares during the last quarter. Westbourne Investment Advisors Inc. boosted its holdings in shares of Rithm Capital by 1.8% during the 4th quarter. Westbourne Investment Advisors Inc. now owns 55,500 shares of the real estate investment trust’s stock worth $605,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Fort Sheridan Advisors LLC grew its position in shares of Rithm Capital by 0.3% in the fourth quarter. Fort Sheridan Advisors LLC now owns 367,164 shares of the real estate investment trust’s stock valued at $4,002,000 after purchasing an additional 1,000 shares in the last quarter. 44.92% of the stock is currently owned by institutional investors and hedge funds.

Rithm Capital Stock Up 2.1%

Shares of RITM opened at $9.43 on Friday. The company’s 50-day moving average price is $9.25 and its 200 day moving average price is $9.96. Rithm Capital Corp. has a 12-month low of $8.43 and a 12-month high of $12.74. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 4.02. The firm has a market cap of $5.26 billion, a P/E ratio of 8.65 and a beta of 1.14.

Rithm Capital (NYSE:RITM) last announced its earnings results on Tuesday, April 28th. The real estate investment trust reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.02). Rithm Capital had a return on equity of 19.48% and a net margin of 14.44%.The company had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.27 billion. On average, sell-side analysts forecast that Rithm Capital Corp. will post 2.23 earnings per share for the current year.

Rithm Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Thursday, July 2nd will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 10.6%. Rithm Capital’s dividend payout ratio (DPR) is presently 91.74%.

Insider Buying and Selling at Rithm Capital

In related news, Director David Saltzman sold 80,922 shares of Rithm Capital stock in a transaction that occurred 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 in the company, valued at approximately $409,294. This trade represents a 64.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.57% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. UBS Group cut their price target on Rithm Capital from $15.00 to $14.50 and set a “buy” rating for the company in a report on Friday, April 10th. Compass Point started coverage on Rithm Capital in a research note on Monday, June 8th. They set a “buy” rating and a $14.00 price objective on the stock. Royal Bank Of Canada dropped their target price on Rithm Capital from $14.00 to $13.00 and set an “outperform” rating for the company in a report on Friday, May 1st. BTIG Research cut their target price on Rithm Capital from $16.00 to $13.00 and set a “buy” rating for the company in a research note on Tuesday, June 16th. Finally, JonesTrading reiterated a “buy” rating and set a $13.50 price target on shares of Rithm Capital in a report on Tuesday, April 28th. Ten research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $13.20.

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.