111,916 Shares in Rithm Capital Corp. $RITM Acquired by Independent Financial Group LLC

Independent Financial Group LLC purchased a new position in shares of Rithm Capital Corp. (NYSE:RITM) in the first quarter, Holdings Channel reports. The fund purchased 111,916 shares of the real estate investment trust’s stock, valued at approximately $1,061,000.

Several other large investors have also made changes to their positions in RITM. JPMorgan Chase & Co. raised its holdings in shares of Rithm Capital by 8.6% during the third quarter. JPMorgan Chase & Co. now owns 1,536,981 shares of the real estate investment trust’s stock worth $17,506,000 after purchasing an additional 121,137 shares during the last quarter. Columbus Macro LLC boosted its holdings in Rithm Capital by 130.1% in the fourth quarter. Columbus Macro LLC now owns 713,165 shares of the real estate investment trust’s stock valued at $7,773,000 after purchasing an additional 403,188 shares during the last quarter. WINTON GROUP Ltd acquired a new stake in Rithm Capital during the 4th quarter worth about $2,007,000. Massachusetts Financial Services Co. MA acquired a new stake in Rithm Capital during the 4th quarter worth about $1,492,000. Finally, UBS Group AG raised its stake in shares of Rithm Capital by 4.0% during the 4th quarter. UBS Group AG now owns 3,869,113 shares of the real estate investment trust’s stock valued at $42,173,000 after buying an additional 150,291 shares during the last quarter. 44.92% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

RITM has been the subject of several analyst reports. Wedbush decreased their price objective on Rithm Capital from $14.00 to $12.50 and set an “outperform” rating for the company in a report on Friday, May 1st. Keefe, Bruyette & Woods decreased their price target on Rithm Capital from $14.00 to $13.00 and set an “outperform” rating for the company in a report on Friday, May 1st. Citizens Jmp upped their price objective on Rithm Capital from $12.50 to $13.50 and gave the stock a “market outperform” rating in a research report on Wednesday, May 20th. Capital One Financial set a $12.50 price objective on shares of Rithm Capital in a research note on Thursday, April 9th. Finally, Citigroup reaffirmed an “outperform” rating on shares of Rithm Capital in a report on Wednesday, May 20th. Ten research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Rithm Capital presently has an average rating of “Moderate Buy” and an average target price of $13.20.

Rithm Capital Trading Down 1.4%

RITM stock opened at $9.19 on Tuesday. 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 Corp. has a 12-month low of $8.43 and a 12-month high of $12.74. The stock has a market cap of $5.13 billion, a price-to-earnings ratio of 8.43 and a beta of 1.14. The business’s 50-day moving average is $9.23 and its 200 day moving average is $9.94.

Rithm Capital (NYSE:RITM) last announced its 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 firm had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.27 billion. Rithm Capital had a net margin of 14.44% and a return on equity of 19.48%. On average, sell-side analysts anticipate that Rithm Capital Corp. will post 2.23 EPS for the current fiscal year.

Rithm Capital Dividend Announcement

The company also recently declared 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. This represents a $1.00 annualized dividend and a dividend yield of 10.9%. The ex-dividend date is Thursday, July 2nd. Rithm Capital’s payout ratio is presently 91.74%.

Insider Buying and Selling

In related news, Director David Saltzman sold 80,922 shares of the stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $9.25, for a total value of $748,528.50. Following the completion of the transaction, the director directly owned 44,248 shares of the company’s stock, valued at approximately $409,294. This represents a 64.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.57% of the company’s stock.

About Rithm Capital

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.