Forty three Eighteen Advisors LLC Acquires Shares of 74,272 Rithm Capital Corp. $RITM

Forty three Eighteen Advisors LLC purchased a new position in Rithm Capital Corp. (NYSE:RITM) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 74,272 shares of the real estate investment trust’s stock, valued at approximately $810,000.

Several other institutional investors and hedge funds have also bought and sold shares of RITM. CoreCap Advisors LLC grew its holdings in shares of Rithm Capital by 99.2% during the 4th quarter. CoreCap Advisors LLC now owns 2,295 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 1,143 shares during the period. Los Angeles Capital Management LLC purchased a new position in shares of Rithm Capital in the 4th quarter valued at approximately $26,000. FNY Investment Advisers LLC purchased a new position in shares of Rithm Capital in the 4th quarter valued at approximately $31,000. Garton & Associates Financial Advisors LLC bought a new stake in shares of Rithm Capital during the fourth quarter valued at approximately $31,000. Finally, Torren Management LLC purchased a new stake in Rithm Capital in the fourth quarter worth $35,000. 44.92% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, Director David Saltzman sold 80,922 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $9.25, for a total value of $748,528.50. Following the completion of the sale, the director owned 44,248 shares in the company, valued at approximately $409,294. The trade was a 64.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.57% of the company’s stock.

Rithm Capital Trading Up 0.2%

NYSE RITM opened at $9.21 on Friday. The stock has a market cap of $5.14 billion, a PE ratio of 8.45 and a beta of 1.14. Rithm Capital Corp. has a 12 month low of $8.43 and a 12 month high of $12.74. The company’s 50-day moving average price is $9.54 and its 200-day moving average price is $10.23. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 4.02.

Rithm Capital (NYSE:RITM) last released its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.02). The company had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.27 billion. Rithm Capital had a net margin of 14.44% and a return on equity of 19.48%. Equities research analysts forecast that Rithm Capital Corp. will post 2.27 earnings per share for the current year.

Rithm Capital Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, April 30th. Stockholders of record on Monday, April 6th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 10.9%. The ex-dividend date of this dividend was Monday, April 6th. Rithm Capital’s payout ratio is currently 91.74%.

Analyst Ratings Changes

Several equities analysts have commented on the company. Wall Street Zen lowered Rithm Capital from a “hold” rating to a “sell” rating in a research report on Saturday. BTIG Research decreased their price target on shares of Rithm Capital from $16.00 to $13.00 and set a “buy” rating for the company in a research note on Tuesday. Citigroup reissued an “outperform” rating on shares of Rithm Capital in a research note on Wednesday, May 20th. Piper Sandler lowered their price objective on Rithm Capital from $15.00 to $14.00 and set an “overweight” rating for the company in a research note on Thursday, April 2nd. Finally, JonesTrading reissued a “buy” rating and issued a $13.50 target price on shares of Rithm Capital in a report on Tuesday, April 28th. Ten research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $13.35.

Rithm Capital Company Profile

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.