Rithm Capital Corp. $RITM Shares Sold by Burney Co.

Burney Co. trimmed its holdings in shares of Rithm Capital Corp. (NYSE:RITM) by 89.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,732 shares of the real estate investment trust’s stock after selling 105,192 shares during the period. Burney Co.’s holdings in Rithm Capital were worth $121,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. CoreCap Advisors LLC lifted its stake in shares of Rithm Capital by 99.2% during the fourth quarter. CoreCap Advisors LLC now owns 2,295 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 1,143 shares in the last quarter. Los Angeles Capital Management LLC acquired a new stake in shares of Rithm Capital in the fourth quarter valued at about $26,000. FNY Investment Advisers LLC acquired a new stake in shares of Rithm Capital in the fourth quarter valued at about $31,000. Garton & Associates Financial Advisors LLC purchased a new stake in shares of Rithm Capital during the 4th quarter valued at about $31,000. Finally, Torren Management LLC purchased a new stake in shares of Rithm Capital during the 4th quarter valued at about $35,000. 44.92% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently commented on RITM shares. Weiss Ratings lowered Rithm Capital from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, May 26th. Wall Street Zen downgraded shares of Rithm Capital from a “hold” rating to a “sell” rating in a research report on Monday, July 6th. Piper Sandler dropped their price objective on shares of Rithm Capital from $14.00 to $12.50 and set an “overweight” rating on the stock in a research note on Thursday, July 2nd. Wedbush reduced their target price on shares of Rithm Capital from $14.00 to $12.50 and set an “outperform” rating on the stock in a research report on Friday, May 1st. Finally, Capital One Financial set a $12.50 target price on shares of Rithm Capital in a research note on Thursday, April 9th. Ten equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $13.20.

Insider Activity

In other Rithm Capital news, Director David Saltzman sold 80,922 shares of the company’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $9.25, for a total value of $748,528.50. Following the transaction, the director directly owned 44,248 shares of the company’s stock, valued at $409,294. This represents a 64.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.57% of the stock is currently owned by insiders.

Rithm Capital Stock Down 0.4%

Shares of Rithm Capital stock opened at $9.18 on Friday. Rithm Capital Corp. has a 1-year low of $8.43 and a 1-year high of $12.74. The company has a market capitalization of $5.12 billion, a PE ratio of 8.42 and a beta of 1.14. 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 business has a 50-day moving average of $9.30 and a 200-day moving average of $10.02.

Rithm Capital (NYSE:RITM) last released 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 business had revenue of $1.38 billion during the quarter, compared to analyst estimates 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 2.23 EPS for the current fiscal year.

Rithm Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Thursday, July 2nd will be issued a dividend of $0.25 per share. The ex-dividend date is Thursday, July 2nd. This represents a $1.00 annualized dividend and a yield of 10.9%. Rithm Capital’s payout ratio is currently 91.74%.

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.