David Saltzman Sells 80,922 Shares of Rithm Capital (NYSE:RITM) Stock

Rithm Capital Corp. (NYSE:RITM) Director David Saltzman sold 80,922 shares of the stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $9.25, for a total transaction of $748,528.50. Following the transaction, the director owned 44,248 shares in the company, valued at approximately $409,294. The trade was a 64.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Rithm Capital Trading Up 0.1%

Shares of RITM stock opened at $9.27 on Friday. The firm has a market cap of $5.17 billion, a P/E ratio of 8.50 and a beta of 1.17. Rithm Capital Corp. has a 1-year low of $8.43 and a 1-year high of $12.74. The company has a debt-to-equity ratio of 4.02, a current ratio of 1.28 and a quick ratio of 1.28. The firm’s 50-day simple moving average is $9.59 and its 200-day simple moving average is $10.50.

Rithm Capital (NYSE:RITM) last announced its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.02). The company had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.27 billion. Rithm Capital had a return on equity of 19.48% and a net margin of 14.44%. As a group, equities analysts forecast that Rithm Capital Corp. will post 2.27 EPS for the current year.

Rithm Capital Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 30th. Investors of record on Monday, April 6th were issued a $0.25 dividend. The ex-dividend date was Monday, April 6th. This represents a $1.00 annualized dividend and a yield of 10.8%. Rithm Capital’s dividend payout ratio (DPR) is presently 91.74%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. CoreCap Advisors LLC grew its position in Rithm Capital by 99.2% in the fourth quarter. CoreCap Advisors LLC now owns 2,295 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 1,143 shares in the last quarter. Los Angeles Capital Management LLC acquired a new stake in Rithm Capital in the fourth quarter valued at approximately $26,000. Bessemer Group Inc. grew its position in Rithm Capital by 658.9% in the third quarter. Bessemer Group Inc. now owns 2,656 shares of the real estate investment trust’s stock valued at $30,000 after acquiring an additional 2,306 shares in the last quarter. Atlantic Union Bankshares Corp acquired a new stake in Rithm Capital in the third quarter valued at approximately $31,000. Finally, Garton & Associates Financial Advisors LLC acquired a new stake in Rithm Capital in the fourth quarter valued at approximately $31,000. Hedge funds and other institutional investors own 44.92% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently commented on RITM. Capital One Financial set a $12.50 price target on shares of Rithm Capital in a report on Thursday, April 9th. Wall Street Zen lowered shares of Rithm Capital from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Keefe, Bruyette & Woods cut their price target on shares of Rithm Capital from $14.00 to $13.00 and set an “outperform” rating on the stock in a report on Friday, May 1st. BTIG Research restated a “buy” rating and issued a $16.00 price target on shares of Rithm Capital in a report on Friday, April 10th. Finally, JonesTrading restated a “buy” rating and issued a $13.50 price target on shares of Rithm Capital in a report on Tuesday, April 28th. Nine analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $13.61.

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.