Public Employees Retirement System of Ohio Takes Position in Rithm Capital Corp. $RITM

Public Employees Retirement System of Ohio bought a new position in shares of Rithm Capital Corp. (NYSE:RITM - Free Report) during the second quarter, according to its most recent filing with the SEC. The fund bought 158,510 shares of the real estate investment trust's stock, valued at approximately $1,488,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Curi Capital LLC raised its holdings in Rithm Capital by 0.7% in the 2nd quarter. Curi Capital LLC now owns 120,262 shares of the real estate investment trust's stock worth $1,358,000 after purchasing an additional 829 shares in the last quarter. Geneos Wealth Management Inc. lifted its position in shares of Rithm Capital by 14.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 7,031 shares of the real estate investment trust's stock worth $81,000 after purchasing an additional 881 shares during the period. Fort Sheridan Advisors LLC boosted its stake in shares of Rithm Capital by 0.3% during the 4th quarter. Fort Sheridan Advisors LLC now owns 367,164 shares of the real estate investment trust's stock valued at $4,002,000 after purchasing an additional 1,000 shares in the last quarter. Essex Financial Services Inc. boosted its stake in shares of Rithm Capital by 5.5% during the 4th quarter. Essex Financial Services Inc. now owns 19,699 shares of the real estate investment trust's stock valued at $215,000 after purchasing an additional 1,021 shares in the last quarter. Finally, Meridian Financial Partners LLC increased its position in shares of Rithm Capital by 1.1% during the fourth quarter. Meridian Financial Partners LLC now owns 94,034 shares of the real estate investment trust's stock valued at $1,105,000 after buying an additional 1,042 shares during the period. 44.92% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

RITM has been the subject of a number of research reports. Citigroup reissued an "outperform" rating on shares of Rithm Capital in a research note on Wednesday, May 20th. Piper Sandler cut their price objective 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. Wall Street Zen upgraded Rithm Capital from a "sell" rating to a "hold" rating in a report on Saturday, August 1st. BTIG Research decreased their target price on Rithm Capital from $16.00 to $13.00 and set a "buy" rating for the company in a research report on Tuesday, June 16th. Finally, Compass Point initiated coverage on Rithm Capital in a research note on Monday, June 8th. They issued a "buy" rating and a $14.00 target price for the company. Ten research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $13.15.

Insider Activity

In other news, Director Peggy Hebard sold 14,520 shares of the business's stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $10.18, for a total value of $147,813.60. Following the sale, the director directly owned 82,259 shares of the company's stock, valued at $837,396.62. The trade was a 15.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.57% of the company's stock.

Rithm Capital Stock Up 0.2%

Shares of Rithm Capital stock opened at $10.10 on Tuesday. The company has a debt-to-equity ratio of 2.19, a current ratio of 0.76 and a quick ratio of 0.76. The company has a 50-day moving average of $9.75 and a 200 day moving average of $9.64. The firm has a market cap of $5.64 billion, a price-to-earnings ratio of 16.83, a PEG ratio of 0.64 and a beta of 1.12. 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 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. Rithm Capital had a net margin of 9.20% and a return on equity of 19.86%. As a group, sell-side analysts anticipate that Rithm Capital Corp. will post 2.26 earnings per share for the current fiscal year.

Rithm Capital Announces Dividend

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

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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