Sigma Planning Corp Reduces Position in Rithm Capital Corp. $RITM

Sigma Planning Corp decreased its holdings in Rithm Capital Corp. (NYSE:RITM) by 59.6% in the first quarter, Holdings Channel reports. The fund owned 54,537 shares of the real estate investment trust’s stock after selling 80,368 shares during the period. Sigma Planning Corp’s holdings in Rithm Capital were worth $517,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. Curi Capital LLC boosted its holdings 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. increased its holdings 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 purchasing an additional 881 shares during the last quarter. City Holding Co. lifted its position in Rithm Capital by 35.1% during the fourth quarter. City Holding Co. now owns 3,850 shares of the real estate investment trust’s stock worth $42,000 after buying an additional 1,000 shares in the last quarter. Westbourne Investment Advisors Inc. lifted its position in Rithm Capital by 1.8% during the fourth quarter. Westbourne Investment Advisors Inc. now owns 55,500 shares of the real estate investment trust’s stock worth $605,000 after buying an additional 1,000 shares in the last quarter. Finally, Fort Sheridan Advisors LLC boosted its stake in Rithm Capital by 0.3% during the fourth quarter. Fort Sheridan Advisors LLC now owns 367,164 shares of the real estate investment trust’s stock worth $4,002,000 after buying an additional 1,000 shares during the last quarter. 44.92% of the stock is owned by hedge funds and other institutional investors.

Rithm Capital Trading Down 1.4%

Shares of Rithm Capital stock opened at $9.19 on Tuesday. The firm has a market capitalization of $5.13 billion, a price-to-earnings ratio of 8.43 and a beta of 1.14. Rithm Capital Corp. has a fifty-two week low of $8.43 and a fifty-two week high of $12.74. 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 stock has a 50 day moving average of $9.23 and a 200 day moving average of $9.94.

Rithm Capital (NYSE:RITM) last posted its earnings results 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 analysts’ expectations of $1.27 billion. As a group, research analysts predict that Rithm Capital Corp. will post 2.23 earnings per share for the current year.

Rithm Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Thursday, July 2nd will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 10.9%. The ex-dividend date is Thursday, July 2nd. Rithm Capital’s payout ratio is 91.74%.

Insider Transactions at Rithm Capital

In other Rithm Capital news, Director David Saltzman sold 80,922 shares of the company’s stock in a transaction dated Wednesday, May 20th. The shares were 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 of the company’s stock, valued at $409,294. This represents a 64.65% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Company insiders own 0.57% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on RITM shares. UBS Group dropped their target price on Rithm Capital from $15.00 to $14.50 and set a “buy” rating for the company in a report on Friday, April 10th. Keefe, Bruyette & Woods reduced their price target on Rithm Capital from $14.00 to $13.00 and set an “outperform” rating on the stock in a report on Friday, May 1st. Weiss Ratings cut shares of Rithm Capital from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, May 26th. Compass Point started coverage on shares of Rithm Capital in a report on Monday, June 8th. They issued a “buy” rating and a $14.00 price objective for the company. Finally, Wedbush cut their price objective on shares of Rithm Capital from $14.00 to $12.50 and set an “outperform” rating for the company in a research report on Friday, May 1st. Ten 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 stock presently has an average rating of “Moderate Buy” and a consensus price target of $13.20.

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.