Sei Investments Co. Buys 188,598 Shares of Rithm Capital Corp. $RITM

Sei Investments Co. increased its stake in shares of Rithm Capital Corp. (NYSE:RITM) by 19.7% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 1,144,597 shares of the real estate investment trust’s stock after buying an additional 188,598 shares during the period. Sei Investments Co. owned 0.21% of Rithm Capital worth $10,851,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cetera Investment Advisers grew its stake in shares of Rithm Capital by 26.9% in the first quarter. Cetera Investment Advisers now owns 1,447,552 shares of the real estate investment trust’s stock valued at $13,723,000 after acquiring an additional 306,615 shares in the last quarter. WINTON GROUP Ltd acquired a new position in shares of Rithm Capital in the 4th quarter valued at approximately $2,007,000. Massachusetts Financial Services Co. MA acquired a new position in shares of Rithm Capital in the 4th quarter valued at approximately $1,492,000. UBS Group AG lifted its stake in Rithm Capital by 4.0% during the fourth quarter. UBS Group AG now owns 3,869,113 shares of the real estate investment trust’s stock worth $42,173,000 after purchasing an additional 150,291 shares during the last quarter. Finally, Independent Financial Group LLC acquired a new stake in shares of Rithm Capital in the 1st quarter valued at $1,061,000. 44.92% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Rithm Capital news, Director David Saltzman sold 80,922 shares of Rithm Capital stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $9.25, for a total transaction of $748,528.50. Following the transaction, the director directly owned 44,248 shares of the company’s stock, valued at approximately $409,294. The trade was a 64.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.57% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Citizens Jmp upped their price objective on shares of Rithm Capital from $12.50 to $13.50 and gave the stock a “market outperform” rating in a research report on Wednesday, May 20th. Piper Sandler lowered their target price on Rithm Capital from $14.00 to $12.50 and set an “overweight” rating for the company in a report on Thursday, July 2nd. UBS Group lowered 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. Capital One Financial set a $12.50 target price on Rithm Capital in a research report on Thursday, April 9th. Finally, Keefe, Bruyette & Woods cut their price target on 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 investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $13.20.

Rithm Capital Price Performance

RITM stock opened at $9.88 on Friday. The company has a fifty day moving average price of $9.27 and a 200-day moving average price of $9.84. The company has a market capitalization of $5.52 billion, a P/E ratio of 16.47 and a beta of 1.14. Rithm Capital Corp. has a 52-week low of $8.43 and a 52-week high of $12.74. The company has a debt-to-equity ratio of 2.19, a quick ratio of 1.28 and a current ratio of 0.90.

Rithm Capital (NYSE:RITM) last issued its quarterly earnings results on Tuesday, July 28th. The real estate investment trust reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.10. Rithm Capital had a net margin of 9.20% and a return on equity of 19.86%. The company had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.43 billion. As a group, equities analysts expect that Rithm Capital Corp. will post 2.22 EPS for the current year.

Rithm Capital Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Thursday, July 2nd were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 10.1%. The ex-dividend date of this dividend was Thursday, July 2nd. Rithm Capital’s dividend payout ratio (DPR) is currently 166.67%.

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.