Rithm Capital Corp. $RITM Shares Acquired by Columbus Macro LLC

Key Points

• Columbus Macro LLC boosted its stake in Rithm Capital by 38% in the first quarter, buying an additional 270,909 shares and bringing its total holding to 984,074 shares worth about $9.33 million.
• Several analysts have recently trimmed their price targets on RITM, though the stock still carries a Moderate Buy consensus from analysts overall. The average target price is now $13.35.
• Rithm Capital declared a quarterly dividend of $0.25 per share, payable July 31, implying an annualized yield of about 10.7%. The company also reported Q1 EPS of $0.51, slightly below estimates, while revenue came in above expectations.

Columbus Macro LLC increased its position in shares of Rithm Capital Corp. (NYSE:RITM - Free Report) by 38.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 984,074 shares of the real estate investment trust's stock after buying an additional 270,909 shares during the period. Columbus Macro LLC owned about 0.18% of Rithm Capital worth $9,329,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. AQR Capital Management LLC increased its position in shares of Rithm Capital by 20.4% during the first quarter. AQR Capital Management LLC now owns 77,625 shares of the real estate investment trust's stock worth $889,000 after acquiring an additional 13,166 shares during the last quarter. NewEdge Advisors LLC boosted its holdings in Rithm Capital by 5.3% in the first quarter. NewEdge Advisors LLC now owns 31,311 shares of the real estate investment trust's stock valued at $359,000 after purchasing an additional 1,585 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in Rithm Capital by 75.6% in the first quarter. Goldman Sachs Group Inc. now owns 1,539,483 shares of the real estate investment trust's stock valued at $17,627,000 after purchasing an additional 662,585 shares during the last quarter. Geneos Wealth Management Inc. grew its stake in Rithm Capital by 14.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 7,031 shares of the real estate investment trust's stock valued at $81,000 after purchasing an additional 881 shares in the last quarter. Finally, M&T Bank Corp increased its holdings in Rithm Capital by 13.9% during the 2nd quarter. M&T Bank Corp now owns 26,173 shares of the real estate investment trust's stock worth $296,000 after purchasing an additional 3,200 shares during the last quarter. Institutional investors and hedge funds own 44.92% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on RITM. Piper Sandler reduced their target price on Rithm Capital from $15.00 to $14.00 and set an "overweight" rating for the company in a research note on Thursday, April 2nd. UBS Group dropped their price target on shares of Rithm Capital from $15.00 to $14.50 and set a "buy" rating for the company in a research note on Friday, April 10th. BTIG Research decreased their price objective on shares of Rithm Capital from $16.00 to $13.00 and set a "buy" rating for the company in a report on Tuesday, June 16th. Weiss Ratings downgraded shares of Rithm Capital from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Tuesday, May 26th. Finally, Wall Street Zen lowered shares of Rithm Capital from a "hold" rating to a "sell" rating in a research note on Saturday, June 20th. Ten investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, Rithm Capital has an average rating of "Moderate Buy" and an average target price of $13.35.

Insider Activity at Rithm Capital

In related news, Director David Saltzman sold 80,922 shares of the business's stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $9.25, for a total transaction of $748,528.50. Following the completion of the sale, the director owned 44,248 shares of the company's stock, valued at $409,294. This represents a 64.65% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.57% of the company's stock.

Rithm Capital Price Performance

Shares of NYSE RITM opened at $9.32 on Friday. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 4.02. The company has a market capitalization of $5.21 billion, a price-to-earnings ratio of 8.56 and a beta of 1.14. Rithm Capital Corp. has a twelve month low of $8.43 and a twelve month high of $12.74. The business has a 50 day simple moving average of $9.48 and a 200-day simple moving average of $10.16.

Rithm Capital (NYSE:RITM - Get Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.02). The firm had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.27 billion. Rithm Capital had a return on equity of 19.48% and a net margin of 14.44%. As a group, equities research analysts expect that Rithm Capital Corp. will post 2.27 earnings per share for the current year.

Rithm Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Thursday, July 2nd will be issued a $0.25 dividend. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $1.00 annualized dividend and a dividend yield of 10.7%. Rithm Capital's payout ratio is 91.74%.

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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