Rithm Capital Corp. $RITM Shares Sold by Sigma Planning Corp

Sigma Planning Corp decreased its position in Rithm Capital Corp. (NYSE:RITM) by 59.6% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 54,537 shares of the real estate investment trust’s stock after selling 80,368 shares during the period. Sigma Planning Corp’s holdings in Rithm Capital were worth $517,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the company. 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 valued at $25,000 after acquiring an additional 1,143 shares during the period. Los Angeles Capital Management LLC acquired a new position in Rithm Capital in the 4th quarter worth about $26,000. Garton & Associates Financial Advisors LLC acquired a new position in Rithm Capital in the 4th quarter worth about $31,000. FNY Investment Advisers LLC purchased a new position in Rithm Capital during the fourth quarter worth approximately $31,000. Finally, Torren Management LLC purchased a new position in Rithm Capital during the fourth quarter worth approximately $35,000. Institutional investors and hedge funds own 44.92% of the company’s stock.

Insider Buying and Selling

In other Rithm Capital news, Director David Saltzman sold 80,922 shares of the firm’s 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 transaction, 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 0.57% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on RITM. JonesTrading restated a “buy” rating and issued a $13.50 price objective on shares of Rithm Capital in a research report on Tuesday, April 28th. Capital One Financial set a $12.50 target price on Rithm Capital in a research report on Thursday, April 9th. Compass Point started coverage on shares of Rithm Capital in a research note on Monday, June 8th. They issued a “buy” rating and a $14.00 price target on the stock. BTIG Research cut their price target on shares of Rithm Capital from $16.00 to $13.00 and set a “buy” rating for the company in a report on Tuesday, June 16th. Finally, Citizens Jmp boosted their price target on shares of Rithm Capital from $12.50 to $13.50 and gave the stock a “market outperform” rating in a report on Wednesday, May 20th. Ten investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $13.20.

Rithm Capital Trading Down 1.4%

RITM stock opened at $9.19 on Tuesday. Rithm Capital Corp. has a 12-month low of $8.43 and a 12-month high of $12.74. The business’s 50-day moving average is $9.23 and its 200 day moving average is $9.94. 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 stock has a market cap of $5.13 billion, a price-to-earnings ratio of 8.43 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 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 disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Thursday, July 2nd will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 10.9%. The ex-dividend date of this dividend is Thursday, July 2nd. Rithm Capital’s dividend payout ratio is currently 91.74%.

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.