Rithm Capital Corp. $RITM Stock Holdings Lifted by Family Manage LLC

Family Manage LLC grew its stake in shares of Rithm Capital Corp. (NYSE:RITM) by 62.1% in the first quarter, Holdings Channel.com reports. The fund owned 487,557 shares of the real estate investment trust’s stock after buying an additional 186,816 shares during the quarter. Family Manage LLC’s holdings in Rithm Capital were worth $4,622,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. CoreCap Advisors LLC raised its position in shares of 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 Rithm Capital in the 4th quarter worth about $26,000. FNY Investment Advisers LLC acquired a new stake in Rithm Capital during the 4th quarter worth about $31,000. Garton & Associates Financial Advisors LLC acquired a new stake in Rithm Capital during the 4th quarter worth about $31,000. Finally, Torren Management LLC purchased a new stake in Rithm Capital during the fourth quarter valued at about $35,000. 44.92% of the stock is owned by institutional investors.

Analyst Ratings Changes

RITM has been the topic of several analyst reports. Royal Bank Of Canada dropped their target price on shares of Rithm Capital from $14.00 to $13.00 and set an “outperform” rating on the stock in a research report on Friday, May 1st. Citigroup restated an “outperform” rating on shares of Rithm Capital in a research report on Wednesday, May 20th. JonesTrading reaffirmed a “buy” rating and issued a $13.50 price objective on shares of Rithm Capital in a research note on Tuesday, April 28th. 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. Finally, Keefe, Bruyette & Woods cut their target price on shares of Rithm Capital from $14.00 to $13.00 and set an “outperform” rating on the stock in a research note on Friday, May 1st. Ten research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $13.20.

Insider Activity

In other Rithm Capital news, Director David Saltzman sold 80,922 shares of Rithm Capital stock in a transaction 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 of the company’s stock, valued at $409,294. This trade represents a 64.65% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.57% of the stock is owned by company insiders.

Rithm Capital Trading Down 0.2%

Shares of NYSE RITM opened at $9.11 on Monday. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 4.02. Rithm Capital Corp. has a one year low of $8.43 and a one year high of $12.74. The business has a 50-day moving average price of $9.21 and a two-hundred day moving average price of $9.88. The firm has a market capitalization of $5.08 billion, a PE ratio of 8.35 and a beta of 1.14.

Rithm Capital (NYSE:RITM) last posted its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $0.51 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.02). Rithm Capital had a return on equity of 19.48% and a net margin of 14.44%.The company had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.27 billion. As a group, analysts predict that Rithm Capital Corp. will post 2.23 earnings per share for the current fiscal year.

Rithm Capital Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Thursday, July 2nd will be given a $0.25 dividend. The ex-dividend date is Thursday, July 2nd. This represents a $1.00 dividend on an annualized basis and a yield of 11.0%. Rithm Capital’s dividend payout ratio is presently 91.74%.

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.