California State Teachers Retirement System Has $5.89 Million Stock Position in Rithm Capital Corp. $RITM

Key Points

• California State Teachers Retirement System increased its Rithm Capital stake by 23.9% in the first quarter, adding 119,894 shares to own 621,315 shares worth approximately $5.89 million. Institutional investors and hedge funds collectively own 44.92% of the stock.
• Rithm Capital reported quarterly EPS of $0.60, exceeding estimates of $0.50, and pays a quarterly dividend of $0.25, equivalent to a 9.9% annualized yield.
• Analysts maintain a generally positive view, with 10 Buy ratings and one Hold rating producing a “Moderate Buy” consensus and an average price target of $13.20, versus a recent share price of $10.12.

California State Teachers Retirement System lifted its stake in Rithm Capital Corp. (NYSE:RITM - Free Report) by 23.9% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 621,315 shares of the real estate investment trust's stock after purchasing an additional 119,894 shares during the period. California State Teachers Retirement System owned 0.11% of Rithm Capital worth $5,890,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in RITM. Norges Bank bought a new position in Rithm Capital during the fourth quarter worth about $77,067,000. Qube Research & Technologies Ltd increased its stake 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 valued at $89,878,000 after acquiring an additional 3,524,330 shares during the last quarter. Principal Financial Group Inc. increased its stake in shares of Rithm Capital by 17,546.2% in the 1st quarter. Principal Financial Group Inc. now owns 2,693,696 shares of the real estate investment trust's stock valued at $25,536,000 after acquiring an additional 2,678,431 shares during the last quarter. 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 acquiring an additional 2,087,282 shares during the period. Finally, Balyasny Asset Management L.P. raised its position in shares of Rithm Capital by 52.1% in the 3rd quarter. Balyasny Asset Management L.P. now owns 5,939,093 shares of the real estate investment trust's stock valued at $67,646,000 after acquiring an additional 2,033,973 shares during the period. 44.92% of the stock is owned by institutional investors and hedge funds.

Rithm Capital Stock Performance

Shares of Rithm Capital stock opened at $10.12 on Thursday. The company has a debt-to-equity ratio of 2.19, a current ratio of 0.90 and a quick ratio of 1.28. The firm has a market cap of $5.65 billion, a price-to-earnings ratio of 16.88 and a beta of 1.14. The stock's 50-day moving average is $9.32 and its 200-day moving average is $9.80. Rithm Capital Corp. has a one year low of $8.43 and a one year high of $12.74.

Rithm Capital (NYSE:RITM - Get Free Report) last announced its earnings results on Tuesday, July 28th. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.50 by $0.10. Rithm Capital had a return on equity of 19.86% and a net margin of 9.20%. Equities analysts predict that Rithm Capital Corp. will post 2.22 earnings per share for the current fiscal year.

Rithm Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Thursday, July 2nd were issued a $0.25 dividend. The ex-dividend date was Thursday, July 2nd. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.9%. Rithm Capital's dividend payout ratio (DPR) is 166.67%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on RITM shares. Capital One Financial set a $12.50 price objective on shares of Rithm Capital in a report on Thursday, April 9th. UBS Group cut their target price on shares of Rithm Capital from $15.00 to $14.50 and set a "buy" rating on the stock in a report on Friday, April 10th. Citizens Jmp lifted their price target on shares of Rithm Capital from $12.50 to $13.50 and gave the stock a "market outperform" rating in a research report on Wednesday, May 20th. Compass Point began coverage on shares of Rithm Capital in a report on Monday, June 8th. They issued a "buy" rating and a $14.00 price target for the company. Finally, Royal Bank Of Canada lowered their price objective on shares of Rithm Capital from $14.00 to $13.00 and set an "outperform" rating for the company in a research report on Friday, May 1st. Ten investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $13.20.

Insider Activity

In other news, Director David Saltzman sold 80,922 shares of the business's stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $9.25, for a total value of $748,528.50. Following the sale, the director owned 44,248 shares of the company's stock, valued at $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 SEC, which can be accessed through the SEC website. 0.57% of the stock is owned by company insiders.

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.

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