73,362 Shares in Rithm Capital Corp. $RITM Purchased by Picton Mahoney Asset Management

Picton Mahoney Asset Management bought a new position in shares of Rithm Capital Corp. (NYSE:RITM) in the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 73,362 shares of the real estate investment trust’s stock, valued at approximately $836,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Curi Capital LLC lifted its position in shares of Rithm Capital by 0.7% in the second quarter. Curi Capital LLC now owns 120,262 shares of the real estate investment trust’s stock valued at $1,358,000 after buying an additional 829 shares during the last quarter. Geneos Wealth Management Inc. raised its holdings 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 valued at $81,000 after acquiring an additional 881 shares in the last quarter. Signaturefd LLC increased its holdings in Rithm Capital by 2.3% in the 3rd quarter. Signaturefd LLC now owns 45,012 shares of the real estate investment trust’s stock valued at $513,000 after buying an additional 1,009 shares during the period. CI Investments Inc. lifted its stake in Rithm Capital by 37.8% during the third quarter. CI Investments Inc. now owns 4,046 shares of the real estate investment trust’s stock worth $46,000 after purchasing an additional 1,109 shares during the last quarter. Finally, US Bancorp DE raised its stake in Rithm Capital by 4.1% during the third quarter. US Bancorp DE now owns 29,297 shares of the real estate investment trust’s stock worth $334,000 after acquiring an additional 1,141 shares in the last quarter. Institutional investors own 44.92% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on RITM. Wedbush started coverage on Rithm Capital in a report on Monday, December 15th. They set an “outperform” rating and a $14.00 price target on the stock. Wall Street Zen raised shares of Rithm Capital from a “hold” rating to a “buy” rating in a research report on Saturday. Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of Rithm Capital in a research note on Thursday, December 18th. UBS Group set a $15.00 target price on Rithm Capital in a research note on Friday, February 6th. Finally, Piper Sandler reiterated an “overweight” rating and set a $15.00 price target (down from $15.50) on shares of Rithm Capital in a research note on Wednesday, February 4th. Seven investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $14.50.

Rithm Capital Stock Down 1.2%

RITM opened at $9.66 on Friday. Rithm Capital Corp. has a 52 week low of $9.13 and a 52 week high of $12.74. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 2.20. The business’s fifty day simple moving average is $10.92 and its 200 day simple moving average is $11.26. The stock has a market cap of $5.37 billion, a PE ratio of 9.29 and a beta of 1.21.

Rithm Capital (NYSE:RITM) last announced its quarterly earnings data on Tuesday, February 3rd. The real estate investment trust reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.19. Rithm Capital had a net margin of 15.55% and a return on equity of 19.74%. The firm had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.24 billion. As a group, research analysts expect that Rithm Capital Corp. will post 1.93 earnings per share for the current fiscal year.

Rithm Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 30th. Stockholders of record on Wednesday, December 31st were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 10.4%. The ex-dividend date of this dividend was Wednesday, December 31st. Rithm Capital’s dividend payout ratio is 96.15%.

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.