Rithm Capital Corp. $RITM Shares Purchased by Cwm LLC

Cwm LLC boosted its stake in shares of Rithm Capital Corp. (NYSE:RITM) by 646.5% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 200,290 shares of the real estate investment trust’s stock after purchasing an additional 173,459 shares during the quarter. Cwm LLC’s holdings in Rithm Capital were worth $2,281,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. State Street Corp boosted its stake in shares of Rithm Capital by 11.5% during the 2nd quarter. State Street Corp now owns 10,178,853 shares of the real estate investment trust’s stock worth $117,426,000 after acquiring an additional 1,052,130 shares in the last quarter. Kingstone Capital Partners Texas LLC purchased a new stake in Rithm Capital during the second quarter worth $96,027,000. Geode Capital Management LLC grew its holdings in Rithm Capital by 1.1% in the second quarter. Geode Capital Management LLC now owns 8,991,146 shares of the real estate investment trust’s stock valued at $101,528,000 after purchasing an additional 98,307 shares during the last quarter. Norges Bank acquired a new position in shares of Rithm Capital during the 2nd quarter worth $72,762,000. Finally, Qube Research & Technologies Ltd boosted its position in shares of Rithm Capital by 31.5% in the 2nd quarter. Qube Research & Technologies Ltd now owns 4,366,657 shares of the real estate investment trust’s stock worth $49,300,000 after buying an additional 1,045,018 shares in the last quarter. 44.92% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on RITM. BTIG Research restated a “buy” rating and set a $16.00 target price on shares of Rithm Capital in a research report on Wednesday, September 17th. Jones Trading reaffirmed a “buy” rating and issued a $13.50 target price on shares of Rithm Capital in a research note on Thursday, October 30th. Weiss Ratings reissued a “hold (c+)” rating on shares of Rithm Capital in a research report on Monday. Piper Sandler reissued an “overweight” rating and issued a $15.50 price target on shares of Rithm Capital in a report on Monday, December 22nd. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of Rithm Capital in a research note on Thursday, December 18th. One equities research 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, the company has an average rating of “Buy” and an average price target of $14.44.

Rithm Capital Stock Performance

Shares of RITM stock opened at $10.99 on Friday. The firm has a market capitalization of $6.09 billion, a price-to-earnings ratio of 7.58 and a beta of 1.21. The company has a 50 day moving average price of $11.11 and a 200 day moving average price of $11.55. Rithm Capital Corp. has a one year low of $9.13 and a one year high of $12.74. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.45 and a current ratio of 0.45.

Rithm Capital (NYSE:RITM) last issued its earnings results 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. Rithm Capital had a return on equity of 18.82% and a net margin of 17.08%.The business had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.07 billion. Sell-side analysts anticipate that Rithm Capital Corp. will post 1.93 EPS for the current year.

Rithm Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Wednesday, December 31st will be issued a $0.25 dividend. The ex-dividend date is Wednesday, December 31st. This represents a $1.00 annualized dividend and a yield of 9.1%. Rithm Capital’s dividend payout ratio (DPR) is presently 68.97%.

Insider Activity at Rithm Capital

In related news, insider David Zeiden sold 19,285 shares of the stock in a transaction on Friday, November 14th. The stock was sold at an average price of $11.11, for a total value of $214,256.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael Nierenberg sold 301,548 shares of the stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $11.00, for a total value of $3,317,028.00. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.44% of the company’s stock.

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.