Rithm Capital Corp. $RITM Shares Sold by MGO One Seven LLC

MGO One Seven LLC lowered its position in shares of Rithm Capital Corp. (NYSE:RITM) by 6.6% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 796,868 shares of the real estate investment trust’s stock after selling 55,906 shares during the period. MGO One Seven LLC owned 0.14% of Rithm Capital worth $8,686,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of RITM. Alliance Wealth Advisors LLC UT acquired a new position in Rithm Capital during the 4th quarter valued at about $115,000. QRG Capital Management Inc. increased its stake in shares of Rithm Capital by 32.6% in the fourth quarter. QRG Capital Management Inc. now owns 114,469 shares of the real estate investment trust’s stock valued at $1,248,000 after purchasing an additional 28,167 shares during the period. Pinnacle Wealth Management Advisory Group LLC bought a new stake in shares of Rithm Capital during the fourth quarter valued at approximately $203,000. Sigma Planning Corp raised its holdings in shares of Rithm Capital by 1.1% during the fourth quarter. Sigma Planning Corp now owns 134,905 shares of the real estate investment trust’s stock valued at $1,471,000 after buying an additional 1,420 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D boosted its position in shares of Rithm Capital by 5.3% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 474,225 shares of the real estate investment trust’s stock worth $5,169,000 after buying an additional 24,074 shares during the period. Institutional investors and hedge funds own 44.92% of the company’s stock.

Rithm Capital Price Performance

Shares of NYSE:RITM opened at $9.79 on Friday. The stock has a market cap of $5.47 billion, a price-to-earnings ratio of 8.98 and a beta of 1.17. The company has a debt-to-equity ratio of 4.02, a current ratio of 1.28 and a quick ratio of 0.58. Rithm Capital Corp. has a 12 month low of $8.43 and a 12 month high of $12.74. The stock’s 50 day moving average price is $9.72 and its 200 day moving average price is $10.61.

Rithm Capital (NYSE:RITM) last issued its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.02). Rithm Capital had a net margin of 14.44% and a return on equity of 19.48%. The firm had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.27 billion. Equities research analysts anticipate that Rithm Capital Corp. will post 2.28 earnings per share for the current fiscal year.

Rithm Capital Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 30th. Investors of record on Monday, April 6th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, April 6th. This represents a $1.00 annualized dividend and a yield of 10.2%. Rithm Capital’s dividend payout ratio (DPR) is currently 91.74%.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Wall Street Zen downgraded Rithm Capital from a “buy” rating to a “hold” rating in a research note on Saturday, May 2nd. UBS Group lowered their price target on Rithm Capital from $15.00 to $14.50 and set a “buy” rating on the stock in a report on Friday, April 10th. Capital One Financial set a $12.50 price objective on shares of Rithm Capital in a research note on Thursday, April 9th. Wedbush reduced their price objective on shares of Rithm Capital from $14.00 to $12.50 and set an “outperform” rating for the company in a report on Friday, May 1st. Finally, Piper Sandler decreased their target price on shares of Rithm Capital from $15.00 to $14.00 and set an “overweight” rating for the company in a research report on Thursday, April 2nd. Seven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $13.63.

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.