Public Sector Pension Investment Board Acquires Shares of 133,391 Rithm Capital Corp. $RITM

Public Sector Pension Investment Board acquired a new stake in Rithm Capital Corp. (NYSE:RITM) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 133,391 shares of the real estate investment trust’s stock, valued at approximately $1,519,000.

Other institutional investors have also made changes to their positions in the company. Westbourne Investment Advisors Inc. bought a new stake in shares of Rithm Capital during the second quarter worth approximately $593,000. JPMorgan Chase & Co. increased its stake in shares of Rithm Capital by 16.6% during the second quarter. JPMorgan Chase & Co. now owns 1,415,844 shares of the real estate investment trust’s stock worth $15,985,000 after purchasing an additional 201,720 shares during the period. Thrivent Financial for Lutherans lifted its holdings in Rithm Capital by 108.7% during the 2nd quarter. Thrivent Financial for Lutherans now owns 188,633 shares of the real estate investment trust’s stock worth $2,129,000 after purchasing an additional 98,269 shares during the last quarter. Y Intercept Hong Kong Ltd boosted its stake in Rithm Capital by 459.2% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 239,007 shares of the real estate investment trust’s stock valued at $2,722,000 after purchasing an additional 196,265 shares during the period. Finally, Synergy Asset Management LLC acquired a new position in Rithm Capital in the 3rd quarter valued at $2,821,000. 44.92% of the stock is owned by institutional investors and hedge funds.

Rithm Capital Stock Down 4.2%

RITM stock opened at $10.02 on Tuesday. Rithm Capital Corp. has a 52 week low of $9.13 and a 52 week high of $12.74. The business has a 50-day simple moving average of $11.12 and a 200 day simple moving average of $11.39. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 2.20. The company has a market cap of $5.57 billion, a PE ratio of 9.63 and a beta of 1.20.

Rithm Capital (NYSE:RITM) last announced its quarterly earnings data on Tuesday, February 3rd. The real estate investment trust reported $0.74 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.55 by $0.19. The firm had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.24 billion. Rithm Capital had a net margin of 15.55% and a return on equity of 19.74%. Sell-side analysts anticipate that Rithm Capital Corp. will post 1.93 EPS for the current fiscal year.

Rithm Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 30th. Shareholders of record on Wednesday, December 31st were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 10.0%. The ex-dividend date was Wednesday, December 31st. Rithm Capital’s payout ratio is currently 96.15%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Wedbush initiated coverage on Rithm Capital in a research report on Monday, December 15th. They set an “outperform” rating and a $14.00 price objective on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of Rithm Capital in a research note on Monday, December 29th. Piper Sandler reiterated an “overweight” rating and issued a $15.00 price objective (down previously from $15.50) on shares of Rithm Capital in a research note on Wednesday, February 4th. UBS Group set a $15.00 price objective on shares of Rithm Capital in a report on Friday, February 6th. Finally, JonesTrading restated a “buy” rating and set a $13.50 target price on shares of Rithm Capital in a research report on Thursday, October 30th. Seven analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $14.50.

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.