Rithm Capital Corp. $RITM Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC cut its holdings in Rithm Capital Corp. (NYSE:RITM) by 47.2% in the fourth quarter, Holdings Channel reports. The institutional investor owned 871,172 shares of the real estate investment trust’s stock after selling 778,222 shares during the quarter. SG Americas Securities LLC’s holdings in Rithm Capital were worth $9,496,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the business. Bessemer Group Inc. lifted its position in shares of Rithm Capital by 658.9% during the 3rd quarter. Bessemer Group Inc. now owns 2,656 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 2,306 shares in the last quarter. Atlantic Union Bankshares Corp purchased a new stake in Rithm Capital in the 3rd quarter worth $31,000. Mather Group LLC. purchased a new stake in Rithm Capital in the 3rd quarter worth $33,000. Optimum Investment Advisors raised its position in Rithm Capital by 200.0% during the third quarter. Optimum Investment Advisors now owns 3,000 shares of the real estate investment trust’s stock worth $34,000 after acquiring an additional 2,000 shares during the period. Finally, Advisory Services Network LLC acquired a new position in Rithm Capital during the third quarter worth $43,000. 44.92% of the stock is owned by institutional investors and hedge funds.

Rithm Capital Trading Up 0.1%

Shares of RITM stock opened at $9.15 on Monday. Rithm Capital Corp. has a fifty-two week low of $8.43 and a fifty-two week high of $12.74. The company has a debt-to-equity ratio of 2.20, a quick ratio of 0.58 and a current ratio of 0.58. The stock’s fifty day moving average is $10.36 and its two-hundred day moving average is $10.92. The firm has a market capitalization of $5.08 billion, a P/E ratio of 8.79 and a beta of 1.21.

Rithm Capital (NYSE:RITM) last released its earnings results 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 business had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.24 billion. Rithm Capital had a net margin of 15.55% and a return on equity of 19.74%. Research analysts expect that Rithm Capital Corp. will post 1.93 earnings per share for the current fiscal year.

Rithm Capital Announces Dividend

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

Analysts Set New Price Targets

Several analysts have recently issued reports on RITM shares. Wedbush began coverage on shares of Rithm Capital in a research report on Monday, December 15th. They issued an “outperform” rating and a $14.00 target price on the stock. Piper Sandler restated an “overweight” rating and set a $15.00 price target (down from $15.50) on shares of Rithm Capital in a research report on Wednesday, February 4th. Wall Street Zen raised shares of Rithm Capital from a “hold” rating to a “buy” rating in a research note on Saturday, March 7th. UBS Group set a $15.00 price objective on Rithm Capital in a report on Friday, February 6th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Rithm Capital in a research note on Monday, December 29th. Seven investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $14.50.

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.