Legal & General Group Plc Has $5.94 Million Position in Rithm Capital Corp. $RITM

Legal & General Group Plc lowered its holdings in shares of Rithm Capital Corp. (NYSE:RITM) by 32.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 544,833 shares of the real estate investment trust’s stock after selling 264,234 shares during the period. Legal & General Group Plc owned about 0.10% of Rithm Capital worth $5,939,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in RITM. Qube Research & Technologies Ltd boosted its stake in shares of Rithm Capital by 80.7% in the 3rd quarter. Qube Research & Technologies Ltd now owns 7,890,987 shares of the real estate investment trust’s stock valued at $89,878,000 after purchasing an additional 3,524,330 shares in the last quarter. UBS Group AG raised its holdings in shares of Rithm Capital by 127.9% in the third quarter. UBS Group AG now owns 3,718,822 shares of the real estate investment trust’s stock valued at $42,357,000 after buying an additional 2,087,282 shares during the last quarter. Balyasny Asset Management L.P. raised its holdings in Rithm Capital by 52.1% during the 3rd quarter. Balyasny Asset Management L.P. now owns 5,939,093 shares of the real estate investment trust’s stock worth $67,646,000 after purchasing an additional 2,033,973 shares during the last quarter. Meteora Capital LLC bought a new stake in Rithm Capital during the 3rd quarter worth about $19,441,000. Finally, Vanguard Group Inc. raised its holdings in Rithm Capital by 2.4% during the 4th quarter. Vanguard Group Inc. now owns 50,282,841 shares of the real estate investment trust’s stock worth $548,083,000 after purchasing an additional 1,191,923 shares during the last quarter. Institutional investors and hedge funds own 44.92% of the company’s stock.

Rithm Capital Stock Down 0.5%

RITM stock opened at $9.13 on Friday. The company has a debt-to-equity ratio of 4.02, a current ratio of 1.28 and a quick ratio of 1.28. The stock has a market capitalization of $5.10 billion, a price-to-earnings ratio of 8.37 and a beta of 1.14. The business’s fifty day moving average price is $9.59 and its two-hundred day moving average price is $10.36. Rithm Capital Corp. has a fifty-two week low of $8.43 and a fifty-two week high of $12.74.

Rithm Capital (NYSE:RITM) last posted its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.02). The firm had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.27 billion. Rithm Capital had a return on equity of 19.48% and a net margin of 14.44%. On average, equities analysts anticipate that Rithm Capital Corp. will post 2.27 earnings per share for the current year.

Rithm Capital Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, April 30th. Investors of record on Monday, April 6th were given a $0.25 dividend. The ex-dividend date was Monday, April 6th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 11.0%. Rithm Capital’s dividend payout ratio (DPR) is presently 91.74%.

Insider Activity at Rithm Capital

In related 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.57% of the company’s stock.

Analyst Upgrades and Downgrades

RITM has been the subject of a number of recent analyst reports. Royal Bank Of Canada lowered their price target on Rithm Capital from $14.00 to $13.00 and set an “outperform” rating for the company in a research note on Friday, May 1st. Citigroup reiterated an “outperform” rating on shares of Rithm Capital in a research report on Wednesday, May 20th. Weiss Ratings downgraded Rithm Capital from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, May 26th. BTIG Research reaffirmed a “buy” rating and set a $16.00 price target on shares of Rithm Capital in a research report on Friday, April 10th. Finally, Citizens Jmp increased their price objective on Rithm Capital from $12.50 to $13.50 and gave the company a “market outperform” rating in a report on Wednesday, May 20th. Nine equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $13.61.

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.