Rithm Capital (NYSE:RITM) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Rithm Capital (NYSE:RITM) from a sell rating to a hold rating in a research note published on Saturday.

RITM has been the topic of several other reports. UBS Group dropped their price objective on shares of Rithm Capital from $15.00 to $14.50 and set a “buy” rating on the stock in a report on Friday, April 10th. Capital One Financial set a $12.50 target price on shares of Rithm Capital in a research note on Thursday, April 9th. Keefe, Bruyette & Woods lowered their price target 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. Royal Bank Of Canada dropped their price target 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. Finally, JonesTrading reaffirmed a “buy” rating and issued a $13.50 price objective on shares of Rithm Capital in a report on Tuesday, April 28th. Ten equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $13.20.

Rithm Capital Stock Performance

Shares of RITM opened at $10.04 on Friday. The firm has a market cap of $5.61 billion, a PE ratio of 16.74 and a beta of 1.14. The stock’s fifty day moving average price is $9.28 and its two-hundred day moving average price is $9.82. The company has a debt-to-equity ratio of 2.19, a current ratio of 0.90 and a quick ratio of 1.28. Rithm Capital has a 1 year low of $8.43 and a 1 year high of $12.74.

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, beating analysts’ consensus estimates of $0.50 by $0.10. Rithm Capital had a return on equity of 19.86% and a net margin of 9.20%.The firm had revenue of $1.28 billion for the quarter, compared to analysts’ expectations of $1.43 billion. On average, equities research analysts forecast that Rithm Capital will post 2.22 EPS for the current year.

Rithm Capital Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Thursday, July 2nd were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 10.0%. The ex-dividend date of this dividend was Thursday, July 2nd. Rithm Capital’s dividend payout ratio is presently 166.67%.

Insider Activity at Rithm Capital

In other Rithm Capital news, Director David Saltzman sold 80,922 shares of the stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $9.25, for a total value of $748,528.50. Following the sale, the director directly owned 44,248 shares in the company, valued at $409,294. This represents a 64.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.57% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Cetera Investment Advisers boosted its stake in 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 worth $13,723,000 after buying an additional 306,615 shares in the last quarter. WINTON GROUP Ltd purchased a new position in shares of Rithm Capital during the fourth quarter worth approximately $2,007,000. Massachusetts Financial Services Co. MA purchased a new position in shares of Rithm Capital during the fourth quarter worth approximately $1,492,000. UBS Group AG lifted its holdings in shares of Rithm Capital by 4.0% in the 4th quarter. UBS Group AG now owns 3,869,113 shares of the real estate investment trust’s stock worth $42,173,000 after acquiring an additional 150,291 shares during the last quarter. Finally, Family Manage LLC lifted its holdings in shares of Rithm Capital by 62.1% in the 1st quarter. Family Manage LLC now owns 487,557 shares of the real estate investment trust’s stock worth $4,622,000 after acquiring an additional 186,816 shares during the last quarter. 44.92% of the stock is currently owned by hedge funds and other institutional investors.

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.