Rithm Capital (NYSE:RITM) CFO Nicola Santoro, Jr. Sells 100,000 Shares of Stock

Rithm Capital Corp. (NYSE:RITM) CFO Nicola Santoro, Jr. sold 100,000 shares of Rithm Capital stock in a transaction that occurred on Wednesday, November 4th. The shares were sold at an average price of $9.51, for a total transaction of $951,000.00. Following the sale, the chief financial officer owned 81,281 shares of the company’s stock, valued at approximately $772,982.31. The trade was a 55.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Rithm Capital Stock Down 0.5%

RITM stock opened at $9.45 on Friday. The firm’s fifty day simple moving average is $9.25 and its 200-day simple moving average is $9.68. The company has a market capitalization of $5.28 billion, a P/E ratio of 3.96, a price-to-earnings-growth ratio of 0.58 and a beta of 1.16. The company has a debt-to-equity ratio of 2.12, a current ratio of 0.55 and a quick ratio of 0.58. Rithm Capital Corp. has a 12 month low of $8.31 and a 12 month high of $12.15.

Rithm Capital (NYSE:RITM) last issued its earnings results on Friday, October 23rd. The real estate investment trust reported $0.55 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.50 by $0.05. The firm had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.47 billion. Rithm Capital had a net margin of 8.71% and a return on equity of 20.03%. As a group, equities research analysts forecast 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. Shareholders of record on Thursday, October 1st were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 10.6%. The ex-dividend date of this dividend was Thursday, October 1st. Rithm Capital’s dividend payout ratio (DPR) is currently 158.73%.

Wall Street Analyst Weigh In

RITM has been the topic of a number of recent research reports. Weiss Ratings downgraded Rithm Capital from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, October 2nd. Wedbush started coverage on Rithm Capital in a research report on Thursday, October 22nd. They set an “outperform” rating and a $10.00 price target for the company. Keefe, Bruyette & Woods lifted their price target on Rithm Capital from $12.50 to $13.00 and gave the company an “outperform” rating in a research report on Tuesday, October 27th. UBS Group decreased their price target on Rithm Capital from $14.50 to $14.00 and set a “buy” rating for the company in a report on Friday, August 21st. Finally, Wall Street Zen upgraded Rithm Capital from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st. Ten research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $12.80.

Institutional Investors Weigh In On Rithm Capital

Several hedge funds have recently modified their holdings of the company. Arizona State Retirement System increased its stake in Rithm Capital by 0.7% during the 2nd quarter. Arizona State Retirement System now owns 153,387 shares of the real estate investment trust’s stock worth $1,440,000 after buying an additional 1,016 shares in the last quarter. B. Riley Wealth Advisors Inc. raised its holdings in shares of Rithm Capital by 8.8% during the third quarter. B. Riley Wealth Advisors Inc. now owns 14,777 shares of the real estate investment trust’s stock valued at $132,000 after acquiring an additional 1,200 shares during the last quarter. Fifth Third Bancorp lifted its position in shares of Rithm Capital by 24.9% in the third quarter. Fifth Third Bancorp now owns 6,241 shares of the real estate investment trust’s stock valued at $56,000 after acquiring an additional 1,244 shares in the last quarter. EverSource Wealth Advisors LLC lifted its position in shares of Rithm Capital by 14.1% in the first quarter. EverSource Wealth Advisors LLC now owns 10,309 shares of the real estate investment trust’s stock valued at $98,000 after acquiring an additional 1,274 shares in the last quarter. Finally, Range Financial Group LLC lifted its position in shares of Rithm Capital by 0.7% in the third quarter. Range Financial Group LLC now owns 178,876 shares of the real estate investment trust’s stock valued at $1,597,000 after acquiring an additional 1,329 shares in the last quarter. 44.92% of the stock is owned by hedge funds and other institutional investors.

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.