Rithm Capital Corp. $RITM Shares Bought by Creative Planning

Creative Planning lifted its position in shares of Rithm Capital Corp. (NYSE:RITM) by 36.7% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 88,541 shares of the real estate investment trust’s stock after buying an additional 23,789 shares during the quarter. Creative Planning’s holdings in Rithm Capital were worth $1,000,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Kingstone Capital Partners Texas LLC acquired a new stake in Rithm Capital during the second quarter worth approximately $96,027,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Rithm Capital during the 2nd quarter worth $24,938,000. Wellington Management Group LLP lifted its stake in shares of Rithm Capital by 36.3% during the 1st quarter. Wellington Management Group LLP now owns 4,907,737 shares of the real estate investment trust’s stock worth $56,194,000 after purchasing an additional 1,307,276 shares during the period. Nuveen LLC acquired a new stake in Rithm Capital in the 1st quarter worth about $14,086,000. Finally, Bank of Montreal Can grew its holdings in Rithm Capital by 3,626.7% in the 2nd quarter. Bank of Montreal Can now owns 1,038,694 shares of the real estate investment trust’s stock valued at $11,727,000 after buying an additional 1,010,822 shares during the period. Institutional investors and hedge funds own 44.92% of the company’s stock.

Rithm Capital Trading Down 0.5%

Shares of RITM stock opened at $11.47 on Monday. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 1.52. Rithm Capital Corp. has a fifty-two week low of $9.13 and a fifty-two week high of $12.74. The firm’s 50 day moving average price is $11.09 and its two-hundred day moving average price is $11.59. The stock has a market cap of $6.35 billion, a price-to-earnings ratio of 7.91 and a beta of 1.22.

Rithm Capital (NYSE:RITM) last issued its earnings results on Thursday, October 30th. The real estate investment trust reported $0.54 EPS for the quarter, meeting analysts’ consensus estimates of $0.54. Rithm Capital had a net margin of 17.08% and a return on equity of 18.82%. The business had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.07 billion. On average, analysts anticipate that Rithm Capital Corp. will post 1.93 EPS for the current year.

Rithm Capital Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Wednesday, October 1st were given a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, October 1st. This represents a $1.00 annualized dividend and a dividend yield of 8.7%. Rithm Capital’s dividend payout ratio is presently 68.97%.

Insider Transactions at Rithm Capital

In other news, CEO Michael Nierenberg sold 301,548 shares of the stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $11.00, for a total value of $3,317,028.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider David Zeiden sold 19,285 shares of the firm’s stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $11.11, for a total value of $214,256.35. The SEC filing for this sale provides additional information. 0.44% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

RITM has been the topic of several recent analyst reports. BTIG Research reiterated a “buy” rating and set a $16.00 price objective on shares of Rithm Capital in a report on Wednesday, September 17th. Wedbush reaffirmed an “outperform” rating and set a $14.00 price target on shares of Rithm Capital in a research report on Wednesday, August 6th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Rithm Capital in a report on Tuesday, November 25th. Jones Trading reissued a “buy” rating and set a $13.50 price objective on shares of Rithm Capital in a research note on Thursday, October 30th. Finally, UBS Group increased their target price on Rithm Capital from $14.00 to $16.00 and gave the stock a “buy” rating in a research report on Wednesday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating, eight have issued 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 “Buy” and a consensus target price of $14.25.

About Rithm Capital

Rithm Capital Corp. operates as an asset manager focused on real estate, credit, and financial services. It operates through Origination and Servicing, Investment Portfolio, Mortgage Loans Receivable, and Asset Management segments. Its investment portfolio primarily comprises of mortgage servicing rights (MSR), and MSR financing receivables, title, appraisal and property preservation, excess MSRs, and services advance investments; real estate securities, call rights, SFR properties, and residential mortgage loans; consumer and business purpose loans; and asset management related investments.