Rithm Capital (NYSE:RITM) CFO Sells 100,000 Shares of Stock

Rithm Capital Corp. (NYSE:RITM) CFO Nicola Santoro, Jr. sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $9.51, for a total value of $951,000.00. Following the sale, the chief financial officer owned 81,281 shares in the company, valued at $772,982.31. The trade was a 55.16% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Rithm Capital Price Performance

RITM stock traded down $0.05 during mid-day trading on Thursday, hitting $9.45. 7,457,589 shares of the stock were exchanged, compared to its average volume of 7,681,455. The business has a fifty day moving average price of $9.26 and a 200 day moving average price of $9.69. Rithm Capital Corp. has a 12 month low of $8.31 and a 12 month high of $12.15. The company has a debt-to-equity ratio of 2.12, a current ratio of 0.55 and a quick ratio of 0.58. The stock has a market capitalization of $5.28 billion, a price-to-earnings ratio of 15.01, a PEG ratio of 0.57 and a beta of 1.16.

Rithm Capital (NYSE:RITM) last announced its quarterly earnings data on Friday, October 23rd. The real estate investment trust reported $0.55 EPS for the quarter, beating the consensus estimate of $0.50 by $0.05. The firm had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.47 billion. Rithm Capital had a return on equity of 20.03% and a net margin of 8.71%. On average, sell-side analysts anticipate that Rithm Capital Corp. will post 2.32 EPS for the current year.

Rithm Capital Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 30th. Shareholders of record on Thursday, October 1st were paid a $0.25 dividend. The ex-dividend date of this dividend was Thursday, October 1st. This represents a $1.00 annualized dividend and a yield of 10.6%. Rithm Capital’s dividend payout ratio is currently 158.73%.

Hedge Funds Weigh In On Rithm Capital

Several institutional investors and hedge funds have recently bought and sold shares of RITM. Wellington Management Group LLP lifted its position in Rithm Capital by 14.4% in the second quarter. Wellington Management Group LLP now owns 11,616,077 shares of the real estate investment trust’s stock valued at $109,075,000 after purchasing an additional 1,466,315 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Rithm Capital by 71.8% during the first quarter. Bank of New York Mellon Corp now owns 3,390,135 shares of the real estate investment trust’s stock valued at $32,138,000 after purchasing an additional 1,416,415 shares during the period. Royal Bank of Canada boosted its stake in shares of Rithm Capital by 12.5% during the first quarter. Royal Bank of Canada now owns 2,974,882 shares of the real estate investment trust’s stock valued at $28,202,000 after purchasing an additional 331,513 shares during the period. Principal Financial Group Inc. grew its holdings in shares of Rithm Capital by 17,546.2% in the first quarter. Principal Financial Group Inc. now owns 2,693,696 shares of the real estate investment trust’s stock worth $25,536,000 after purchasing an additional 2,678,431 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Rithm Capital in the second quarter worth approximately $22,001,000. 44.92% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Wedbush assumed coverage on shares of Rithm Capital in a research note on Thursday, October 22nd. They set an “outperform” rating and a $10.00 price target on the stock. Keefe, Bruyette & Woods upped their price objective on shares of Rithm Capital from $12.50 to $13.00 and gave the company an “outperform” rating in a research note on Tuesday, October 27th. BTIG Research reduced their target price on shares of Rithm Capital from $13.00 to $12.00 and set a “buy” rating on the stock in a report on Monday, October 12th. UBS Group decreased their target price on shares of Rithm Capital from $14.50 to $14.00 and set a “buy” rating on the stock in a research report on Friday, August 21st. Finally, Weiss Ratings cut shares of Rithm Capital from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, October 2nd. Ten equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $12.80.

About Rithm Capital

Rithm Capital Corp. is a real estate investment trust and financial services company focused primarily on residential real estate and mortgage-related investments. Formerly known as New Residential Investment Corp., the company adopted the Rithm Capital name in 2022.

Through its operating businesses and investment platforms, Rithm participates in mortgage servicing, mortgage origination, residential mortgage loans, mortgage servicing rights and other housing-related assets. Its businesses include Newrez, a mortgage platform that provides home loan origination, servicing and related services, as well as other investments connected to residential real estate and private lending.

Rithm primarily serves the U.S.