Alden Global Capital LLC Has $5.03 Million Stock Position in Rithm Capital Corp. $RITM

Alden Global Capital LLC raised its position in Rithm Capital Corp. (NYSE:RITM) by 24.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 461,576 shares of the real estate investment trust’s stock after acquiring an additional 91,500 shares during the period. Rithm Capital comprises approximately 2.4% of Alden Global Capital LLC’s holdings, making the stock its 14th largest holding. Alden Global Capital LLC’s holdings in Rithm Capital were worth $5,031,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Rithm Capital by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 50,282,841 shares of the real estate investment trust’s stock worth $548,083,000 after buying an additional 1,191,923 shares in the last quarter. State Street Corp raised its holdings in shares of Rithm Capital by 5.3% in the 4th quarter. State Street Corp now owns 10,557,874 shares of the real estate investment trust’s stock worth $117,701,000 after buying an additional 530,607 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Rithm Capital by 4.8% in the 4th quarter. Geode Capital Management LLC now owns 9,621,935 shares of the real estate investment trust’s stock worth $104,904,000 after buying an additional 443,144 shares in the last quarter. Qube Research & Technologies Ltd raised its holdings in shares of Rithm Capital by 80.7% in the 3rd quarter. Qube Research & Technologies Ltd now owns 7,890,987 shares of the real estate investment trust’s stock worth $89,878,000 after buying an additional 3,524,330 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Rithm Capital in the 4th quarter worth approximately $77,067,000. Institutional investors and hedge funds own 44.92% of the company’s stock.

Insider Activity

In other news, Director David Saltzman sold 80,922 shares of the firm’s stock in a transaction 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 in the company, valued at $409,294. This trade represents a 64.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.57% of the stock is owned by corporate insiders.

Rithm Capital Stock Down 1.7%

Shares of RITM opened at $9.18 on Thursday. The firm has a market capitalization of $5.12 billion, a price-to-earnings ratio of 8.42 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 business’s fifty day moving average price is $9.56 and its two-hundred day moving average price is $10.25. Rithm Capital Corp. has a 52 week low of $8.43 and a 52 week high of $12.74.

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

Rithm Capital Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, April 30th. Stockholders of record on Monday, April 6th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 10.9%. The ex-dividend date was Monday, April 6th. Rithm Capital’s dividend payout ratio (DPR) is currently 91.74%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on RITM. Piper Sandler dropped their target price on Rithm Capital from $15.00 to $14.00 and set an “overweight” rating for the company in a report on Thursday, April 2nd. Weiss Ratings cut Rithm Capital from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, May 26th. Keefe, Bruyette & Woods dropped their price target on Rithm Capital from $14.00 to $13.00 and set an “outperform” rating for the company in a report on Friday, May 1st. Wedbush dropped their price target on Rithm Capital from $14.00 to $12.50 and set an “outperform” rating for the company in a report on Friday, May 1st. Finally, Wall Street Zen lowered Rithm Capital from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Ten analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $13.35.

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.