Alden Global Capital LLC Has $3.26 Million Stake in Rithm Capital Corp. $RITM

Alden Global Capital LLC lifted its stake in Rithm Capital Corp. (NYSE:RITM) by 47.2% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 288,376 shares of the real estate investment trust’s stock after acquiring an additional 92,500 shares during the period. Rithm Capital accounts for about 2.0% of Alden Global Capital LLC’s investment portfolio, making the stock its 13th largest position. Alden Global Capital LLC’s holdings in Rithm Capital were worth $3,256,000 as of its most recent filing with the SEC.

A number of other large investors have also recently added to or reduced their stakes in RITM. Geneos Wealth Management Inc. raised its position in shares of Rithm Capital by 14.3% in the first quarter. Geneos Wealth Management Inc. now owns 7,031 shares of the real estate investment trust’s stock valued at $81,000 after purchasing an additional 881 shares during the period. GAMMA Investing LLC boosted its holdings in shares of Rithm Capital by 19.1% during the 2nd quarter. GAMMA Investing LLC now owns 5,528 shares of the real estate investment trust’s stock worth $62,000 after buying an additional 887 shares during the period. Townsquare Capital LLC grew its stake in Rithm Capital by 3.7% in the 1st quarter. Townsquare Capital LLC now owns 30,439 shares of the real estate investment trust’s stock valued at $349,000 after buying an additional 1,088 shares during the last quarter. Foster Victor Wealth Advisors LLC grew its stake in Rithm Capital by 2.3% in the 2nd quarter. Foster Victor Wealth Advisors LLC now owns 60,618 shares of the real estate investment trust’s stock valued at $710,000 after buying an additional 1,361 shares during the last quarter. Finally, Maridea Wealth Management LLC raised its holdings in Rithm Capital by 2.1% in the 2nd quarter. Maridea Wealth Management LLC now owns 65,367 shares of the real estate investment trust’s stock worth $738,000 after acquiring an additional 1,374 shares during the period. Institutional investors own 44.92% of the company’s stock.

Rithm Capital Trading Down 0.1%

Rithm Capital stock opened at $11.13 on Friday. The business has a 50 day moving average price of $11.04 and a two-hundred day moving average price of $11.57. 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 12 month low of $9.13 and a 12 month high of $12.74. The stock has a market cap of $6.17 billion, a price-to-earnings ratio of 7.67 and a beta of 1.22.

Rithm Capital (NYSE:RITM) last announced its quarterly earnings data on Thursday, October 30th. The real estate investment trust reported $0.54 earnings per share for the quarter, hitting the consensus estimate of $0.54. The company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.07 billion. Rithm Capital had a return on equity of 18.82% and a net margin of 17.08%. As a group, equities analysts forecast that Rithm Capital Corp. will post 1.93 EPS for the current year.

Rithm Capital Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Wednesday, October 1st were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 9.0%. The ex-dividend date of this dividend was Wednesday, October 1st. Rithm Capital’s payout ratio is 68.97%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on RITM. Jones Trading restated a “buy” rating and set a $13.50 price target on shares of Rithm Capital in a report on Thursday, October 30th. Weiss Ratings reissued a “hold (c+)” rating on shares of Rithm Capital in a research report on Monday. UBS Group increased their target price on Rithm Capital from $14.00 to $16.00 and gave the company a “buy” rating in a research note on Wednesday, September 3rd. Finally, BTIG Research reaffirmed a “buy” rating and issued a $16.00 target price on shares of Rithm Capital in a report on Wednesday, September 17th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $14.25.

Insiders Place Their Bets

In related news, insider David Zeiden sold 19,285 shares of the company’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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, 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 transaction of $3,317,028.00. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.44% of the company’s stock.

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.