GSA Capital Partners LLP Sells 41,182 Shares of Rithm Capital Corp. (NYSE:RITM)

Key Points

• GSA Capital Partners LLP reduced its stake in Rithm Capital Corp. by 40.2%, selling 41,182 shares to hold a total of 61,163 shares valued at approximately $700,000.
• Rithm Capital recently reported an EPS of $0.54, exceeding analysts' expectations of $0.51, alongside a revenue of $1.22 billion for the quarter.
• The company declared a quarterly dividend of $0.25 with an annualized dividend yield of 8.3%, reflecting a payout ratio of 76.92%.

GSA Capital Partners LLP lessened its position in shares of Rithm Capital Corp. (NYSE:RITM - Free Report) by 40.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 61,163 shares of the real estate investment trust's stock after selling 41,182 shares during the period. GSA Capital Partners LLP's holdings in Rithm Capital were worth $700,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also added to or reduced their stakes in RITM. Fourth Dimension Wealth LLC boosted its holdings in Rithm Capital by 50.0% in the 1st quarter. Fourth Dimension Wealth LLC now owns 3,000 shares of the real estate investment trust's stock worth $34,000 after buying an additional 1,000 shares during the period. Quarry LP boosted its holdings in shares of Rithm Capital by 47.5% during the 4th quarter. Quarry LP now owns 4,118 shares of the real estate investment trust's stock valued at $45,000 after acquiring an additional 1,327 shares during the last quarter. Quadrant Capital Group LLC boosted its holdings in shares of Rithm Capital by 35.2% in the fourth quarter. Quadrant Capital Group LLC now owns 4,655 shares of the real estate investment trust's stock worth $50,000 after buying an additional 1,211 shares during the last quarter. Quent Capital LLC raised its stake in Rithm Capital by 58.6% during the 1st quarter. Quent Capital LLC now owns 5,465 shares of the real estate investment trust's stock worth $63,000 after acquiring an additional 2,019 shares during the period. Finally, CWM LLC increased its position in Rithm Capital by 25.5% during the first quarter. CWM LLC now owns 6,046 shares of the real estate investment trust's stock valued at $69,000 after acquiring an additional 1,228 shares during the last quarter. Institutional investors own 44.92% of the company's stock.

Rithm Capital Price Performance

RITM traded down $0.15 during trading on Wednesday, hitting $12.12. The company's stock had a trading volume of 2,201,011 shares, compared to its average volume of 4,496,257. The firm's 50 day moving average price is $11.61 and its two-hundred day moving average price is $11.40. The stock has a market capitalization of $6.42 billion, a price-to-earnings ratio of 9.32 and a beta of 1.25. Rithm Capital Corp. has a 12 month low of $9.13 and a 12 month high of $12.59. The company has a quick ratio of 0.35, a current ratio of 0.40 and a debt-to-equity ratio of 1.63.

Rithm Capital (NYSE:RITM - Get Free Report) last posted its earnings results on Monday, July 28th. The real estate investment trust reported $0.54 EPS for the quarter, beating the consensus estimate of $0.51 by $0.03. Rithm Capital had a return on equity of 18.89% and a net margin of 16.72%. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.18 billion. Sell-side analysts forecast that Rithm Capital Corp. will post 1.93 earnings per share for the current fiscal year.

Rithm Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, June 30th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 8.3%. The ex-dividend date was Monday, June 30th. Rithm Capital's payout ratio is currently 76.92%.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Jones Trading upped their price objective on shares of Rithm Capital from $12.50 to $13.50 and gave the stock a "buy" rating in a research note on Tuesday, July 29th. UBS Group reiterated a "buy" rating and set a $14.00 price target (up previously from $13.00) on shares of Rithm Capital in a report on Tuesday, July 15th. BTIG Research reiterated a "buy" rating and set a $16.00 price target on shares of Rithm Capital in a research note on Friday, April 25th. Royal Bank Of Canada boosted their price objective on Rithm Capital from $13.00 to $14.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. Finally, Piper Sandler raised Rithm Capital from a "neutral" rating to an "overweight" rating and increased their price objective for the company from $12.50 to $14.00 in a report on Monday, April 28th. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Rithm Capital has a consensus rating of "Buy" and an average price target of $14.00.

Rithm Capital Company Profile

Rithm Capital Corp. operates as an asset manager focused on real estate, credit, and financial services. It operates through Origination and Servicing, Investment Portfolio, Mortgage Loans Receivable, and Asset Management segments. Its investment portfolio primarily comprises of mortgage servicing rights (MSR), and MSR financing receivables, title, appraisal and property preservation, excess MSRs, and services advance investments; real estate securities, call rights, SFR properties, and residential mortgage loans; consumer and business purpose loans; and asset management related investments.