Public Sector Pension Investment Board Invests $1.52 Million in Rithm Capital Corp. $RITM

Public Sector Pension Investment Board acquired a new position in shares of Rithm Capital Corp. (NYSE:RITM) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 133,391 shares of the real estate investment trust’s stock, valued at approximately $1,519,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Bessemer Group Inc. raised its stake in Rithm Capital by 658.9% during the third quarter. Bessemer Group Inc. now owns 2,656 shares of the real estate investment trust’s stock worth $30,000 after acquiring an additional 2,306 shares in the last quarter. Cullen Frost Bankers Inc. bought a new stake in shares of Rithm Capital during the 2nd quarter valued at approximately $30,000. Atlantic Union Bankshares Corp acquired a new position in Rithm Capital during the 3rd quarter worth approximately $31,000. Mather Group LLC. bought a new position in Rithm Capital in the 3rd quarter valued at approximately $33,000. Finally, Optimum Investment Advisors boosted its position in Rithm Capital by 200.0% in the third quarter. Optimum Investment Advisors now owns 3,000 shares of the real estate investment trust’s stock valued at $34,000 after buying an additional 2,000 shares in the last quarter. Institutional investors own 44.92% of the company’s stock.

Analysts Set New Price Targets

RITM has been the subject of several research analyst reports. Wedbush began coverage on shares of Rithm Capital in a report on Monday, December 15th. They set an “outperform” rating and a $14.00 price target for the company. UBS Group set a $15.00 target price on Rithm Capital in a report on Friday, February 6th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Rithm Capital in a research report on Monday, December 29th. Piper Sandler restated an “overweight” rating and set a $15.00 price target (down from $15.50) on shares of Rithm Capital in a report on Wednesday, February 4th. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of Rithm Capital in a research note on Thursday, December 18th. Seven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $14.50.

Rithm Capital Stock Down 4.2%

Shares of RITM opened at $10.02 on Tuesday. The stock’s 50-day moving average price is $11.12 and its two-hundred day moving average price is $11.39. Rithm Capital Corp. has a 12 month low of $9.13 and a 12 month high of $12.74. The company has a market capitalization of $5.57 billion, a PE ratio of 9.63 and a beta of 1.20. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 2.20.

Rithm Capital (NYSE:RITM) last issued its quarterly earnings data on Tuesday, February 3rd. The real estate investment trust reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.19. Rithm Capital had a return on equity of 19.74% and a net margin of 15.55%.The company had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.24 billion. On average, analysts anticipate that Rithm Capital Corp. will post 1.93 EPS for the current year.

Rithm Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 30th. Stockholders of record on Wednesday, December 31st were paid 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 Wednesday, December 31st. Rithm Capital’s dividend payout ratio is currently 96.15%.

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.