Hsbc Holdings PLC Sells 174,537 Shares of Rithm Capital Corp. $RITM

Hsbc Holdings PLC reduced its position in Rithm Capital Corp. (NYSE:RITM) by 92.0% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 15,135 shares of the real estate investment trust’s stock after selling 174,537 shares during the quarter. Hsbc Holdings PLC’s holdings in Rithm Capital were worth $143,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Curi Capital LLC grew its stake in shares of Rithm Capital by 0.7% during the 2nd quarter. Curi Capital LLC now owns 120,262 shares of the real estate investment trust’s stock worth $1,358,000 after acquiring an additional 829 shares during the period. Geneos Wealth Management Inc. lifted its holdings in Rithm Capital by 14.3% during the first quarter. Geneos Wealth Management Inc. now owns 7,031 shares of the real estate investment trust’s stock valued at $81,000 after purchasing an additional 881 shares during the last quarter. Westbourne Investment Advisors Inc. boosted its position in Rithm Capital by 1.8% during the fourth quarter. Westbourne Investment Advisors Inc. now owns 55,500 shares of the real estate investment trust’s stock worth $605,000 after purchasing an additional 1,000 shares during the period. City Holding Co. increased its stake in shares of Rithm Capital by 35.1% in the fourth quarter. City Holding Co. now owns 3,850 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Fort Sheridan Advisors LLC increased its stake in shares of Rithm Capital by 0.3% in the fourth quarter. Fort Sheridan Advisors LLC now owns 367,164 shares of the real estate investment trust’s stock worth $4,002,000 after purchasing an additional 1,000 shares in the last quarter. 44.92% of the stock is currently owned by institutional investors.

Rithm Capital Price Performance

Rithm Capital stock opened at $10.25 on Wednesday. The stock has a market cap of $5.72 billion, a price-to-earnings ratio of 17.08 and a beta of 1.14. The company has a quick ratio of 1.28, a current ratio of 0.90 and a debt-to-equity ratio of 2.19. The business has a 50-day simple moving average of $9.30 and a 200 day simple moving average of $9.81. Rithm Capital Corp. has a 52 week low of $8.43 and a 52 week high of $12.74.

Rithm Capital (NYSE:RITM) last released its quarterly earnings results on Tuesday, July 28th. The real estate investment trust reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.50 by $0.10. Rithm Capital had a return on equity of 19.86% and a net margin of 9.20%. On average, research analysts forecast that Rithm Capital Corp. will post 2.22 earnings per share for the current fiscal year.

Rithm Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Thursday, July 2nd were given a dividend of $0.25 per share. The ex-dividend date was Thursday, July 2nd. This represents a $1.00 annualized dividend and a dividend yield of 9.8%. Rithm Capital’s dividend payout ratio (DPR) is 166.67%.

Insider Buying and Selling at Rithm Capital

In other 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 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.57% of the company’s stock.

Wall Street Analysts Forecast Growth

RITM has been the topic of a number of recent research reports. JonesTrading restated a “buy” rating and set a $13.50 price target on shares of Rithm Capital in a research note on Tuesday, April 28th. Wall Street Zen raised shares of Rithm Capital from a “sell” rating to a “hold” rating in a report on Saturday. BTIG Research dropped their target price on Rithm Capital from $16.00 to $13.00 and set a “buy” rating on the stock in a research report on Tuesday, June 16th. Citigroup reaffirmed an “outperform” rating on shares of Rithm Capital in a report on Wednesday, May 20th. Finally, Weiss Ratings upgraded Rithm Capital from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, July 28th. Ten equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $13.20.

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.