Rithm Capital Corp. $RITM Shares Sold by Allianz Asset Management GmbH

Allianz Asset Management GmbH lessened its holdings in Rithm Capital Corp. (NYSE:RITM) by 12.6% during the 3rd quarter, Holdings Channel reports. The firm owned 1,933,019 shares of the real estate investment trust’s stock after selling 279,312 shares during the quarter. Allianz Asset Management GmbH’s holdings in Rithm Capital were worth $22,017,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Curi Capital LLC raised its position in shares of Rithm Capital by 0.7% during the 2nd quarter. Curi Capital LLC now owns 120,262 shares of the real estate investment trust’s stock worth $1,358,000 after purchasing an additional 829 shares during the last quarter. Geneos Wealth Management Inc. lifted its position in shares of Rithm Capital by 14.3% in the first 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 lifted its position in shares of Rithm Capital by 2.3% in the third quarter. Signaturefd LLC now owns 45,012 shares of the real estate investment trust’s stock valued at $513,000 after acquiring an additional 1,009 shares in the last quarter. Foster Victor Wealth Advisors LLC boosted its stake in shares of Rithm Capital by 2.0% during the third quarter. Foster Victor Wealth Advisors LLC now owns 61,830 shares of the real estate investment trust’s stock valued at $689,000 after acquiring an additional 1,212 shares during the last quarter. Finally, Samalin Investment Counsel LLC increased its position in Rithm Capital by 3.6% during the 3rd quarter. Samalin Investment Counsel LLC now owns 36,638 shares of the real estate investment trust’s stock worth $417,000 after purchasing an additional 1,290 shares in the last quarter. 44.92% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. UBS Group set a $15.00 target price on shares of Rithm Capital in a report on Friday. Keefe, Bruyette & Woods reissued an “outperform” rating on shares of Rithm Capital in a research note on Thursday, December 18th. Piper Sandler restated an “overweight” rating and set a $15.00 target price (down previously from $15.50) on shares of Rithm Capital in a research report on Wednesday. Jones Trading reiterated a “buy” rating and issued a $13.50 price target on shares of Rithm Capital in a report on Thursday, October 30th. Finally, Wedbush assumed coverage on Rithm Capital in a report on Monday, December 15th. They set an “outperform” rating and a $14.00 price objective on the stock. Seven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, Rithm Capital presently has a consensus rating of “Moderate Buy” and an average price target of $14.50.

Insider Activity at Rithm Capital

In related news, insider David Zeiden sold 19,285 shares of Rithm Capital stock in a transaction on Friday, November 14th. The shares were sold at an average price of $11.11, for a total transaction of $214,256.35. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.44% of the company’s stock.

Rithm Capital Price Performance

Shares of Rithm Capital stock opened at $10.74 on Friday. The stock has a market capitalization of $5.95 billion, a P/E ratio of 10.33 and a beta of 1.20. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 1.52. The business’s fifty day moving average price is $11.27 and its 200 day moving average price is $11.53. Rithm Capital Corp. has a twelve month low of $9.13 and a twelve month high of $12.74.

Rithm Capital (NYSE:RITM) last released its quarterly earnings data on Tuesday, February 3rd. The real estate investment trust reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.19. The company had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.24 billion. Rithm Capital had a return on equity of 20.19% and a net margin of 15.55%. As a group, research analysts anticipate that Rithm Capital Corp. will post 1.93 earnings per share for the current year.

Rithm Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 30th. Stockholders of record on Wednesday, December 31st were given a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $1.00 annualized dividend and a dividend yield of 9.3%. Rithm Capital’s dividend payout ratio is presently 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.