Rithm Capital Corp. $RITM Shares Newly Bought by SMH Capital Advisors Inc.

SMH Capital Advisors Inc. bought a new position in Rithm Capital Corp. (NYSE:RITM) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 66,158 shares of the real estate investment trust’s stock, valued at approximately $591,000. Rithm Capital comprises about 2.2% of SMH Capital Advisors Inc.’s portfolio, making the stock its 12th largest position.

A number of other large investors also recently modified their holdings of the stock. Sage Rhino Capital LLC increased its holdings in shares of Rithm Capital by 8.5% in the third quarter. Sage Rhino Capital LLC now owns 29,007 shares of the real estate investment trust’s stock valued at $259,000 after purchasing an additional 2,281 shares in the last quarter. Pinnacle Wealth Planning Services Inc. raised its position in Rithm Capital by 82.7% in the 3rd quarter. Pinnacle Wealth Planning Services Inc. now owns 31,602 shares of the real estate investment trust’s stock worth $282,000 after purchasing an additional 14,303 shares during the last quarter. Sage Investment Counsel LLC raised its position in Rithm Capital by 8.6% in the 3rd quarter. Sage Investment Counsel LLC now owns 50,700 shares of the real estate investment trust’s stock worth $453,000 after purchasing an additional 4,000 shares during the last quarter. Samalin Investment Counsel LLC lifted its holdings in Rithm Capital by 55.3% during the 3rd quarter. Samalin Investment Counsel LLC now owns 35,035 shares of the real estate investment trust’s stock worth $313,000 after buying an additional 12,470 shares in the last quarter. Finally, Signaturefd LLC lifted its holdings in Rithm Capital by 15.2% during the 3rd quarter. Signaturefd LLC now owns 58,988 shares of the real estate investment trust’s stock worth $527,000 after buying an additional 7,776 shares in the last quarter. 44.92% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on RITM. Keefe, Bruyette & Woods increased their price objective on Rithm Capital from $12.50 to $13.00 and gave the company an “outperform” rating in a research report on Tuesday, October 27th. Weiss Ratings downgraded Rithm Capital from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, October 2nd. BTIG Research cut their price target on Rithm Capital from $13.00 to $12.00 and set a “buy” rating on the stock in a research note on Monday, October 12th. UBS Group cut their price target on Rithm Capital from $14.50 to $14.00 and set a “buy” rating on the stock in a research note on Friday, August 21st. Finally, Wall Street Zen upgraded Rithm Capital from a “sell” rating to a “hold” rating in a report on Saturday, August 1st. Ten investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $12.80.

Insider Buying and Selling at Rithm Capital

In other news, Director Peggy Hebard sold 14,520 shares of the firm’s stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $10.18, for a total value of $147,813.60. Following the transaction, the director directly owned 82,259 shares in the company, valued at $837,396.62. This trade represents a 15.00% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.57% of the stock is currently owned by company insiders.

Rithm Capital Trading Up 1.6%

RITM opened at $9.46 on Tuesday. The company has a debt-to-equity ratio of 2.12, a current ratio of 0.83 and a quick ratio of 0.58. The company has a market cap of $5.28 billion, a price-to-earnings ratio of 3.86, a price-to-earnings-growth ratio of 0.57 and a beta of 1.16. The firm has a 50 day simple moving average of $9.29 and a 200 day simple moving average of $9.71. Rithm Capital Corp. has a fifty-two week low of $8.31 and a fifty-two week high of $12.15.

Rithm Capital (NYSE:RITM) last announced its quarterly earnings data on Friday, October 23rd. The real estate investment trust reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.05. Rithm Capital had a net margin of 8.71% and a return on equity of 20.03%. The business had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.47 billion. On average, sell-side analysts anticipate that Rithm Capital Corp. will post 2.32 earnings per share for the current year.

Rithm Capital Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 30th. Stockholders of record on Thursday, October 1st were paid a $0.25 dividend. The ex-dividend date of this dividend was Thursday, October 1st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 10.6%. Rithm Capital’s dividend payout ratio is 158.73%.

About Rithm Capital

Rithm Capital Corp. is a real estate investment trust and financial services company focused primarily on residential real estate and mortgage-related investments. Formerly known as New Residential Investment Corp., the company adopted the Rithm Capital name in 2022.

Through its operating businesses and investment platforms, Rithm participates in mortgage servicing, mortgage origination, residential mortgage loans, mortgage servicing rights and other housing-related assets. Its businesses include Newrez, a mortgage platform that provides home loan origination, servicing and related services, as well as other investments connected to residential real estate and private lending.

Rithm primarily serves the U.S.