137,466 Shares in Rithm Capital Corp. $RITM Purchased by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Key Points

• Institutional buying: Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought 137,466 shares of Rithm Capital in the first quarter, worth about $1.3 million.
• Analyst sentiment remains positive: The stock has a consensus rating of Moderate Buy with a $13.20 average price target, though several firms recently trimmed their targets.
• Dividend yield is high: Rithm Capital declared a quarterly dividend of $0.25 per share, equal to an annualized yield of about 10.7%.

Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in shares of Rithm Capital Corp. (NYSE:RITM - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 137,466 shares of the real estate investment trust's stock, valued at approximately $1,303,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new stake in shares of Rithm Capital in the fourth quarter valued at approximately $77,067,000. Qube Research & Technologies Ltd increased its holdings in 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 valued at $89,878,000 after buying an additional 3,524,330 shares during the period. UBS Group AG raised its position in shares of Rithm Capital by 127.9% in the 3rd quarter. UBS Group AG now owns 3,718,822 shares of the real estate investment trust's stock valued at $42,357,000 after buying an additional 2,087,282 shares in the last quarter. Balyasny Asset Management L.P. lifted its holdings in shares of Rithm Capital by 52.1% during the 3rd quarter. Balyasny Asset Management L.P. now owns 5,939,093 shares of the real estate investment trust's stock worth $67,646,000 after acquiring an additional 2,033,973 shares during the period. Finally, Meteora Capital LLC bought a new stake in shares of Rithm Capital during the 3rd quarter worth approximately $19,441,000. 44.92% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Wedbush reduced their price target on Rithm Capital from $14.00 to $12.50 and set an "outperform" rating on the stock in a research report on Friday, May 1st. Royal Bank Of Canada reduced their target price on Rithm Capital from $14.00 to $13.00 and set an "outperform" rating for the company in a research note on Friday, May 1st. Capital One Financial set a $12.50 price objective on shares of Rithm Capital in a report on Thursday, April 9th. Compass Point started coverage on shares of Rithm Capital in a report on Monday, June 8th. They issued a "buy" rating and a $14.00 price target on the stock. Finally, BTIG Research dropped their price objective on shares of Rithm Capital from $16.00 to $13.00 and set a "buy" rating on the stock in a report on Tuesday, June 16th. Ten investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $13.20.

Insiders Place Their Bets

In other news, Director David Saltzman sold 80,922 shares of the business'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 transaction of $748,528.50. Following the transaction, the director directly owned 44,248 shares in the company, valued at $409,294. The trade was a 64.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.57% of the company's stock.

Rithm Capital Stock Performance

Shares of NYSE RITM opened at $9.31 on Friday. 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 has a fifty day moving average price of $9.24 and a 200-day moving average price of $9.96. The stock has a market cap of $5.20 billion, a PE ratio of 8.55 and a beta of 1.14. Rithm Capital Corp. has a 1 year low of $8.43 and a 1 year high of $12.74.

Rithm Capital (NYSE:RITM - Get Free Report) last released its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.53 by ($0.02). Rithm Capital had a return on equity of 19.48% and a net margin of 14.44%.The firm had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.27 billion. Equities analysts anticipate that Rithm Capital Corp. will post 2.23 earnings per share for the current fiscal year.

Rithm Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Thursday, July 2nd will be given a $0.25 dividend. The ex-dividend date is Thursday, July 2nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 10.7%. Rithm Capital's dividend payout ratio is 91.74%.

About Rithm Capital

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.

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