Rithm Capital Corp. Announces Quarterly Dividend of $0.25 (NYSE:RITM)

Rithm Capital Corp. (NYSE:RITM) announced a quarterly dividend on Monday, June 22nd. Stockholders of record on Thursday, July 2nd will be paid a dividend of 0.25 per share by the real estate investment trust on Friday, July 31st. This represents a c) dividend on an annualized basis and a dividend yield of 10.9%. The ex-dividend date is Thursday, July 2nd.

Rithm Capital has increased its dividend payment by an average of 0.1%per year over the last three years. Rithm Capital has a payout ratio of 46.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Rithm Capital to earn $2.32 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 43.1%.

Rithm Capital Stock Down 0.6%

RITM stock opened at $9.13 on Tuesday. The firm has a market cap of $5.10 billion, a PE ratio of 8.38 and a beta of 1.14. The company has a debt-to-equity ratio of 4.02, a quick ratio of 1.28 and a current ratio of 1.28. The firm’s 50 day moving average price is $9.52 and its 200-day moving average price is $10.21. Rithm Capital has a one year low of $8.43 and a one year high of $12.74.

Rithm Capital (NYSE:RITM) last released its quarterly earnings data 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). Rithm Capital had a net margin of 14.44% and a return on equity of 19.48%. The business had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.27 billion. On average, equities research analysts anticipate that Rithm Capital will post 2.27 EPS for the current year.

Insider Buying and Selling at Rithm Capital

In other news, Director David Saltzman sold 80,922 shares of Rithm Capital 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 completion of the sale, the director directly owned 44,248 shares of the company’s stock, valued at approximately $409,294. The trade was a 64.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.57% of the company’s stock.

Hedge Funds Weigh In On Rithm Capital

Institutional investors have recently bought and sold shares of the company. CoreCap Advisors LLC increased its stake in Rithm Capital by 99.2% during the fourth quarter. CoreCap Advisors LLC now owns 2,295 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 1,143 shares during the period. Los Angeles Capital Management LLC acquired a new stake in shares of Rithm Capital during the fourth quarter worth about $26,000. FNY Investment Advisers LLC purchased a new position in shares of Rithm Capital in the fourth quarter valued at approximately $31,000. Garton & Associates Financial Advisors LLC purchased a new position in shares of Rithm Capital in the fourth quarter valued at approximately $31,000. Finally, Altshuler Shaham Ltd grew its holdings in shares of Rithm Capital by 100.0% in the first quarter. Altshuler Shaham Ltd now owns 3,600 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 1,800 shares in the last quarter. 44.92% of the stock is owned by institutional investors and hedge funds.

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.