First Trust Advisors LP Decreases Stock Holdings in Rithm Capital Corp. $RITM

First Trust Advisors LP lowered its stake in shares of Rithm Capital Corp. (NYSE:RITM - Free Report) by 35.3% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,731,999 shares of the real estate investment trust's stock after selling 1,490,508 shares during the quarter. First Trust Advisors LP owned about 0.49% of Rithm Capital worth $25,899,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Pacific Sun Financial Corp lifted its position in shares of Rithm Capital by 71.3% during the first quarter. Pacific Sun Financial Corp now owns 70,475 shares of the real estate investment trust's stock valued at $668,000 after buying an additional 29,343 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Rithm Capital by 451.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 34,837 shares of the real estate investment trust's stock worth $330,000 after acquiring an additional 28,525 shares in the last quarter. CMC Financial Group purchased a new stake in Rithm Capital during the first quarter valued at approximately $95,000. Swiss National Bank lifted its position in Rithm Capital by 4.9% during the first quarter. Swiss National Bank now owns 1,096,805 shares of the real estate investment trust's stock valued at $10,398,000 after acquiring an additional 51,300 shares during the last quarter. Finally, California Public Employees Retirement System boosted its stake in Rithm Capital by 2.2% in the first quarter. California Public Employees Retirement System now owns 1,034,097 shares of the real estate investment trust's stock valued at $9,803,000 after acquiring an additional 22,610 shares in the last quarter. 44.92% of the stock is currently owned by institutional investors.

Rithm Capital Trading Up 5.9%

Shares of Rithm Capital stock opened at $9.78 on Wednesday. The firm's 50 day simple moving average is $9.23 and its two-hundred day simple moving average is $9.86. The firm has a market capitalization of $5.46 billion, a price-to-earnings ratio of 8.97 and a beta of 1.14. Rithm Capital Corp. has a 12-month low of $8.43 and a 12-month high of $12.74. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 4.02.

Rithm Capital (NYSE:RITM - Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The real estate investment trust reported $0.60 EPS for the quarter, topping the consensus estimate of $0.50 by $0.10. The business had revenue of $1.28 billion during the quarter, compared to the consensus estimate of $1.43 billion. Rithm Capital had a net margin of 14.44% and a return on equity of 19.48%. Analysts predict that Rithm Capital Corp. will post 2.23 EPS for the current year.

Rithm Capital Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Thursday, July 2nd will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $1.00 dividend on an annualized basis and a yield of 10.2%. Rithm Capital's payout ratio is currently 91.74%.

Insider Buying and Selling

In other Rithm Capital news, Director David Saltzman sold 80,922 shares of the business's stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $9.25, for a total transaction of $748,528.50. Following the sale, the director owned 44,248 shares in the company, valued at approximately $409,294. The trade was a 64.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.57% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on RITM. JonesTrading reaffirmed a "buy" rating and set a $13.50 price target on shares of Rithm Capital in a research report on Tuesday, April 28th. UBS Group lowered their price objective on Rithm Capital from $15.00 to $14.50 and set a "buy" rating for the company in a research report on Friday, April 10th. Keefe, Bruyette & Woods dropped their target price on Rithm Capital from $14.00 to $13.00 and set an "outperform" rating on the stock in a research note on Friday, May 1st. Piper Sandler reduced their target price on Rithm Capital from $14.00 to $12.50 and set an "overweight" rating on the stock in a research report on Thursday, July 2nd. Finally, Citizens Jmp increased 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. Ten investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $13.20.

Rithm Capital News Roundup

Here are the key news stories impacting Rithm Capital this week:

• Positive Sentiment: Rithm reported second-quarter earnings available for distribution of $338.9 million, or $0.60 per diluted share, exceeding the $0.50 analyst consensus and rising from $0.54 a year earlier. Rithm Q2 Earnings Top Estimates
• Positive Sentiment: Rithm Asset Management’s assets under management increased to approximately $61 billion from $59 billion in the first quarter, supporting the company’s strategy of building a diversified, fee-generating owner-operator platform. Rithm Capital Q2 Earnings and AUM Growth
• Positive Sentiment: Newrez generated $307.6 million of pre-tax operating income excluding specified non-operating items. Origination production reached $15.9 billion, while Genesis Capital’s origination volume rose 52% year over year to $1.9 billion. Rithm Capital Q2 Operating Results
• Positive Sentiment: The company declared a common dividend of $0.25 per share and reported book value of $12.33 per common share, both relevant to income-focused investors. Brokerages set an average price target of $13.20, implying potential upside based on the cited coverage. Brokerages Set Rithm Capital Target Price
• Neutral Sentiment: Management highlighted resilient performance despite an uncertain macroeconomic and housing-market environment, with strategic investments and asset-management inflows helping offset market challenges. Rithm Capital Q2 Earnings Call Highlights
• Negative Sentiment: Total revenue was $1.282 billion, below the $1.43 billion consensus estimate. GAAP net income attributable to common stockholders fell to $20.2 million, or $0.04 per share, underscoring the difference between reported GAAP results and the stronger non-GAAP distributable earnings figure. Rithm Capital Announces Second Quarter Results

Rithm Capital Company 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.

Want to see what other hedge funds are holding RITM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Rithm Capital Corp. (NYSE:RITM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.