Columbus Macro LLC Increases Position in Rithm Capital Corp. $RITM

Columbus Macro LLC increased its position in shares of Rithm Capital Corp. (NYSE:RITM) by 130.1% during the 4th quarter, Holdings Channel reports. The firm owned 713,165 shares of the real estate investment trust’s stock after acquiring an additional 403,188 shares during the period. Columbus Macro LLC’s holdings in Rithm Capital were worth $7,773,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. State Street Corp increased its stake in Rithm Capital by 11.5% in 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 buying an additional 1,052,130 shares in the last quarter. Qube Research & Technologies Ltd lifted its position in shares of Rithm Capital by 80.7% in the third quarter. Qube Research & Technologies Ltd now owns 7,890,987 shares of the real estate investment trust’s stock valued at $89,878,000 after acquiring an additional 3,524,330 shares in the last quarter. Norges Bank purchased a new position in shares of Rithm Capital in the second quarter valued at about $72,762,000. Wellington Management Group LLP boosted its stake in shares of Rithm Capital by 2.3% in the third quarter. Wellington Management Group LLP now owns 6,036,229 shares of the real estate investment trust’s stock worth $68,753,000 after acquiring an additional 133,631 shares during the period. Finally, Balyasny Asset Management L.P. boosted its stake in shares of Rithm Capital by 52.1% in the third quarter. Balyasny Asset Management L.P. now owns 5,939,093 shares of the real estate investment trust’s stock worth $67,646,000 after acquiring an additional 2,033,973 shares during the period. Hedge funds and other institutional investors own 44.92% of the company’s stock.

Analyst Ratings Changes

RITM has been the topic of several recent analyst reports. Keefe, Bruyette & Woods reissued an “outperform” rating on shares of Rithm Capital in a research note on Thursday, December 18th. Wall Street Zen raised shares of Rithm Capital from a “hold” rating to a “buy” rating in a report on Saturday, March 7th. UBS Group set a $15.00 price objective on shares of Rithm Capital in a research report on Friday, February 6th. Piper Sandler reissued an “overweight” rating and issued a $15.00 target price (down from $15.50) on shares of Rithm Capital in a report on Wednesday, February 4th. Finally, Wedbush assumed coverage on shares of Rithm Capital in a research report on Monday, December 15th. They set an “outperform” rating and a $14.00 target price for the company. Seven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $14.50.

Rithm Capital Stock Up 0.1%

Shares of NYSE RITM opened at $9.15 on Monday. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 2.20. Rithm Capital Corp. has a 12-month low of $8.43 and a 12-month high of $12.74. The firm’s 50-day moving average price is $10.36 and its 200-day moving average price is $10.92. The stock has a market capitalization of $5.08 billion, a price-to-earnings ratio of 8.79 and a beta of 1.21.

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

Rithm Capital Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Monday, April 6th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, April 6th. This represents a $1.00 annualized dividend and a dividend yield of 10.9%. Rithm Capital’s payout ratio is currently 96.15%.

Rithm Capital 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.