Rockefeller Capital Management L.P. Acquires 99,880 Shares of Rithm Capital Corp. $RITM

Rockefeller Capital Management L.P. grew its holdings in Rithm Capital Corp. (NYSE:RITM) by 47.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 311,705 shares of the real estate investment trust’s stock after acquiring an additional 99,880 shares during the quarter. Rockefeller Capital Management L.P. owned 0.06% of Rithm Capital worth $3,398,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. CoreCap Advisors LLC lifted its stake 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 buying an additional 1,143 shares in the last quarter. Los Angeles Capital Management LLC bought a new stake in shares of Rithm Capital during the fourth quarter worth $26,000. FNY Investment Advisers LLC bought a new stake in shares of Rithm Capital during the fourth quarter worth $31,000. Garton & Associates Financial Advisors LLC acquired a new stake in shares of Rithm Capital during the fourth quarter worth $31,000. Finally, Torren Management LLC acquired a new stake in shares of Rithm Capital during the fourth quarter worth $35,000. Institutional investors own 44.92% of the company’s stock.

Rithm Capital Price Performance

NYSE:RITM opened at $9.37 on Monday. Rithm Capital Corp. has a 52-week low of $8.43 and a 52-week high of $12.74. The company has a market cap of $5.23 billion, a P/E ratio of 8.60 and a beta of 1.14. The company has a debt-to-equity ratio of 4.02, a quick ratio of 1.28 and a current ratio of 1.28. The stock’s 50-day simple moving average is $9.46 and its 200 day simple moving average is $10.15.

Rithm Capital (NYSE:RITM) last issued its quarterly earnings results on Tuesday, April 28th. The real estate investment trust reported $0.51 EPS 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 analyst estimates of $1.27 billion. Rithm Capital had a net margin of 14.44% and a return on equity of 19.48%. As a group, sell-side analysts forecast that Rithm Capital Corp. will post 2.27 EPS for the current fiscal year.

Rithm Capital Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Thursday, July 2nd will be paid a $0.25 dividend. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $1.00 annualized dividend and a dividend yield of 10.7%. Rithm Capital’s dividend payout ratio (DPR) is currently 91.74%.

Wall Street Analyst Weigh In

Several research firms have issued reports on RITM. Citizens Jmp lifted their price target on Rithm Capital from $12.50 to $13.50 and gave the company a “market outperform” rating in a research note on Wednesday, May 20th. JonesTrading reaffirmed a “buy” rating and set a $13.50 price objective on shares of Rithm Capital in a research report on Tuesday, April 28th. Wedbush reduced their price objective on Rithm Capital from $14.00 to $12.50 and set an “outperform” rating for the company in a research report on Friday, May 1st. UBS Group decreased their price objective on Rithm Capital from $15.00 to $14.50 and set a “buy” rating for the company in a report on Friday, April 10th. Finally, Weiss Ratings lowered Rithm Capital from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, May 26th. Ten equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $13.35.

Insiders Place Their Bets

In other Rithm Capital news, Director David Saltzman sold 80,922 shares of the company’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $9.25, for a total transaction of $748,528.50. Following the sale, the director directly owned 44,248 shares of the company’s stock, valued at approximately $409,294. This represents a 64.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.57% of the company’s stock.

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.