Rithm Capital Corp. (NYSE:RITM) Announces $0.25 Quarterly Dividend

Rithm Capital Corp. (NYSE:RITM) announced a quarterly dividend on Thursday, September 17th. Stockholders of record on Thursday, October 1st will be paid a dividend of 0.25 per share by the real estate investment trust on Friday, October 30th. This represents a c) dividend on an annualized basis and a dividend yield of 10.5%. The ex-dividend date is Thursday, October 1st.

Rithm Capital has raised its dividend payment by an average of 0.1%annually over the last three years. Rithm Capital has a payout ratio of 46.5% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Rithm Capital to earn $2.29 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 43.7%.

Rithm Capital Price Performance

Shares of NYSE:RITM opened at $9.49 on Friday. The company’s fifty day moving average is $9.83 and its two-hundred day moving average is $9.60. The company has a market cap of $5.30 billion, a P/E ratio of 15.81, a price-to-earnings-growth ratio of 0.60 and a beta of 1.12. Rithm Capital has a 12-month low of $8.43 and a 12-month high of $12.46. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 2.19.

Rithm Capital (NYSE:RITM) last posted its quarterly earnings results on Tuesday, July 28th. The real estate investment trust reported $0.60 EPS for the quarter, topping the consensus estimate of $0.50 by $0.10. Rithm Capital had a net margin of 9.20% and a return on equity of 19.86%. Equities analysts expect that Rithm Capital will post 2.26 earnings per share for the current fiscal year.

Insider Activity

In other Rithm Capital news, Director Peggy Hebard sold 14,520 shares of Rithm Capital stock in a transaction on Thursday, August 20th. The stock was sold at an average price of $10.18, for a total transaction of $147,813.60. Following the completion of the transaction, the director directly owned 82,259 shares of the company’s stock, valued at approximately $837,396.62. This trade represents a 15.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.57% of the company’s stock.

Institutional Investors Weigh In On Rithm Capital

A number of hedge funds have recently made changes to their positions in RITM. Cetera Investment Advisers grew its position in Rithm Capital by 26.9% during the 1st quarter. Cetera Investment Advisers now owns 1,447,552 shares of the real estate investment trust’s stock worth $13,723,000 after acquiring an additional 306,615 shares during the last quarter. Family Manage LLC raised its position in 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 valued at $4,622,000 after purchasing an additional 186,816 shares during the last quarter. BlueCrest Capital Management Ltd boosted its stake in Rithm Capital by 37.8% in the second quarter. BlueCrest Capital Management Ltd now owns 2,046,427 shares of the real estate investment trust’s stock worth $19,216,000 after purchasing an additional 561,819 shares in the last quarter. WINTON GROUP Ltd acquired a new position in Rithm Capital in the fourth quarter worth $2,007,000. Finally, Bank of New York Mellon Corp bought a new stake in shares of Rithm Capital during the second quarter worth $29,635,000. Institutional investors and hedge funds own 44.92% of the company’s stock.

Rithm Capital Company Profile

Rithm Capital Corporation (NYSE:RITM) is a real estate investment trust that focuses on investments and operating businesses tied to the residential mortgage and real estate markets. The company seeks to generate income from mortgage servicing rights, residential mortgage loans, mortgage-backed securities and other related assets.

Rithm also owns and operates businesses involved in mortgage origination, servicing and related financial services. Its platform includes Newrez, a mortgage company that provides loan origination, servicing and associated services to homeowners and borrowers in the United States.