Wellington Management Group LLP Buys 1,466,315 Shares of Rithm Capital Corp. $RITM

Wellington Management Group LLP grew its position in shares of Rithm Capital Corp. (NYSE:RITM) by 14.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 11,616,077 shares of the real estate investment trust’s stock after acquiring an additional 1,466,315 shares during the quarter. Wellington Management Group LLP owned 2.08% of Rithm Capital worth $109,075,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Los Angeles Capital Management LLC purchased a new stake in Rithm Capital in the 4th quarter valued at about $26,000. Garton & Associates Financial Advisors LLC purchased a new position in shares of Rithm Capital in the 4th quarter worth approximately $31,000. Altshuler Shaham Ltd grew its holdings in shares of Rithm Capital by 100.0% in the first quarter. Altshuler Shaham Ltd now owns 3,600 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 1,800 shares in the last quarter. Bogart Wealth LLC increased its position in shares of Rithm Capital by 108.5% during the first quarter. Bogart Wealth LLC now owns 4,120 shares of the real estate investment trust’s stock valued at $39,000 after acquiring an additional 2,144 shares during the last quarter. Finally, Sound Income Strategies LLC purchased a new stake in shares of Rithm Capital during the first quarter valued at approximately $41,000. Institutional investors own 44.92% of the company’s stock.

Rithm Capital Stock Down 1.1%

RITM opened at $9.92 on Wednesday. The company has a fifty day moving average price of $9.69 and a 200-day moving average price of $9.65. The firm has a market capitalization of $5.54 billion, a P/E ratio of 16.53 and a beta of 1.12. The company has a debt-to-equity ratio of 2.19, a current ratio of 0.76 and a quick ratio of 0.76. Rithm Capital Corp. has a one year low of $8.43 and a one year high of $12.74.

Rithm Capital (NYSE:RITM) last posted its 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 return on equity of 19.86% and a net margin of 9.20%. Equities research analysts expect that Rithm Capital Corp. will post 2.26 earnings per share for the current fiscal year.

Rithm Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Thursday, July 2nd were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 10.1%. The ex-dividend date was Thursday, July 2nd. Rithm Capital’s dividend payout ratio is 166.67%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. BTIG Research decreased their target price on Rithm Capital from $16.00 to $13.00 and set a “buy” rating for the company in a research report on Tuesday, June 16th. Piper Sandler cut their price target on shares of Rithm Capital from $14.00 to $12.50 and set an “overweight” rating on the stock in a report on Thursday, July 2nd. Compass Point assumed coverage on shares of Rithm Capital in a research report on Monday, June 8th. They set a “buy” rating and a $14.00 price target for the company. Citizens Jmp raised their price objective on shares of Rithm Capital from $12.50 to $13.50 and gave the stock a “market outperform” rating in a report on Wednesday, May 20th. Finally, UBS Group lowered their price objective on shares of Rithm Capital from $14.50 to $14.00 and set a “buy” rating on the stock in a research report on Friday, August 21st. Ten equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Rithm Capital currently has a consensus rating of “Moderate Buy” and a consensus target price of $13.15.

Insiders Place Their Bets

In other Rithm Capital news, Director Peggy Hwan Hebard sold 14,520 shares of Rithm Capital stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $10.18, for a total transaction of $147,813.60. Following the completion of the sale, the director directly owned 82,259 shares in the company, valued at $837,396.62. The trade was a 15.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.57% of the stock is owned by corporate insiders.

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.