Rithm Capital Corp. $RITM Shares Sold by Private Advisor Group LLC

Private Advisor Group LLC trimmed its position in shares of Rithm Capital Corp. (NYSE:RITM) by 63.9% in the first quarter, HoldingsChannel.com reports. The fund owned 52,453 shares of the real estate investment trust’s stock after selling 92,967 shares during the period. Private Advisor Group LLC’s holdings in Rithm Capital were worth $497,000 at the end of the most recent quarter.

Other institutional investors also 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 purchased a new position in shares of Rithm Capital in the fourth quarter valued at approximately $26,000. FNY Investment Advisers LLC acquired a new position in shares of Rithm Capital in the fourth quarter valued at approximately $31,000. Garton & Associates Financial Advisors LLC acquired a new position in shares of Rithm Capital in the fourth quarter valued at approximately $31,000. Finally, Torren Management LLC purchased a new stake in Rithm Capital during the 4th quarter worth approximately $35,000. 44.92% of the stock is owned by institutional investors and hedge funds.

Rithm Capital Trading Up 2.1%

RITM opened at $9.43 on Friday. Rithm Capital Corp. has a one year low of $8.43 and a one year high of $12.74. The company has a market cap of $5.26 billion, a P/E ratio of 8.65 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 business’s 50-day simple moving average is $9.25 and its 200-day simple moving average is $9.96.

Rithm Capital (NYSE:RITM) last posted its earnings results 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 business had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.27 billion. Rithm Capital had a return on equity of 19.48% and a net margin of 14.44%. As a group, equities research analysts expect that Rithm Capital Corp. will post 2.23 EPS for the current fiscal year.

Rithm Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Thursday, July 2nd will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $1.00 dividend on an annualized basis and a yield of 10.6%. Rithm Capital’s dividend payout ratio (DPR) is presently 91.74%.

Wall Street Analysts Forecast Growth

RITM has been the topic of a number of research reports. Piper Sandler reduced their target price on shares of Rithm Capital from $14.00 to $12.50 and set an “overweight” rating on the stock in a report on Thursday, July 2nd. Wall Street Zen downgraded shares of Rithm Capital from a “hold” rating to a “sell” rating in a research note on Monday, July 6th. Royal Bank Of Canada cut their price objective on Rithm Capital from $14.00 to $13.00 and set an “outperform” rating on the stock in a research report on Friday, May 1st. Keefe, Bruyette & Woods reduced their price objective on Rithm Capital from $14.00 to $13.00 and set an “outperform” rating on the stock in a research note on Friday, May 1st. Finally, JonesTrading reiterated a “buy” rating and issued a $13.50 target price on shares of Rithm Capital in a report on Tuesday, April 28th. Ten research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $13.20.

Insiders Place Their Bets

In other news, Director David Saltzman sold 80,922 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $9.25, for a total transaction of $748,528.50. Following the completion of the sale, the director owned 44,248 shares in the company, valued at approximately $409,294. The trade was a 64.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.57% of the company’s stock.

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.