Rithm Capital Corp. $RITM Stock Holdings Boosted by Family Manage LLC

Key Points

• Family Manage LLC increased its Rithm Capital stake by 62.1% in the first quarter, bringing its holdings to 487,557 shares worth approximately $4.62 million. Institutional investors collectively own 44.92% of the stock.
• Rithm Capital reported quarterly EPS of $0.51, slightly below the $0.53 consensus estimate, while revenue of $1.38 billion exceeded analyst expectations of $1.27 billion. The stock opened at $9.11, near the lower end of its 52-week range.
• The company declared a quarterly dividend of $0.25 per share, equivalent to a $1.00 annual payout and an 11.0% yield. Analysts maintain a generally positive view, with a “Moderate Buy” consensus rating and an average price target of $13.20.

Family Manage LLC increased its position in Rithm Capital Corp. (NYSE:RITM - Free Report) by 62.1% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 487,557 shares of the real estate investment trust's stock after acquiring an additional 186,816 shares during the period. Family Manage LLC owned approximately 0.09% of Rithm Capital worth $4,622,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Van Diest Capital LLC acquired a new position in Rithm Capital during the 1st quarter valued at about $114,000. Waverly Advisors LLC increased its stake in shares of Rithm Capital by 22.8% in the first quarter. Waverly Advisors LLC now owns 19,240 shares of the real estate investment trust's stock valued at $182,000 after purchasing an additional 3,573 shares during the period. Capula Management Ltd bought a new stake in shares of Rithm Capital during the first quarter valued at approximately $2,585,000. Sei Investments Co. raised its holdings in shares of Rithm Capital by 19.7% during the first quarter. Sei Investments Co. now owns 1,144,597 shares of the real estate investment trust's stock valued at $10,851,000 after buying an additional 188,598 shares during the last quarter. Finally, Lido Advisors LLC boosted its position in shares of Rithm Capital by 9.2% during the first quarter. Lido Advisors LLC now owns 133,461 shares of the real estate investment trust's stock worth $1,265,000 after buying an additional 11,252 shares during the period. 44.92% of the stock is currently owned by institutional investors.

Rithm Capital Stock Performance

RITM opened at $9.11 on Monday. The company has a market capitalization of $5.08 billion, a price-to-earnings ratio of 8.35 and a beta of 1.14. The company has a debt-to-equity ratio of 4.02, a current ratio of 1.28 and a quick ratio of 1.28. Rithm Capital Corp. has a 1-year low of $8.43 and a 1-year high of $12.74. The business has a 50 day moving average price of $9.21 and a two-hundred day moving average price of $9.88.

Rithm Capital (NYSE:RITM - Get Free Report) last issued its quarterly earnings results 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). Rithm Capital had a net margin of 14.44% and a return on equity of 19.48%. The firm had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.27 billion. Research analysts predict that Rithm Capital Corp. will post 2.23 EPS for the current fiscal year.

Rithm Capital Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Thursday, July 2nd will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 11.0%. The ex-dividend date of this dividend is Thursday, July 2nd. Rithm Capital's payout ratio is presently 91.74%.

Insider Transactions at Rithm Capital

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 shares were sold at an average price of $9.25, for a total value of $748,528.50. Following the sale, the director directly owned 44,248 shares in the company, valued at approximately $409,294. The trade was a 64.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.57% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts recently issued reports on RITM shares. BTIG Research decreased their price objective on Rithm Capital from $16.00 to $13.00 and set a "buy" rating for the company in a report on Tuesday, June 16th. Wedbush cut their target price on Rithm Capital from $14.00 to $12.50 and set an "outperform" rating on the stock in a research note on Friday, May 1st. Citigroup reiterated an "outperform" rating on shares of Rithm Capital in a research report on Wednesday, May 20th. UBS Group decreased their price target on Rithm Capital from $15.00 to $14.50 and set a "buy" rating for the company in a research note on Friday, April 10th. Finally, Compass Point began coverage on Rithm Capital in a report on Monday, June 8th. They set a "buy" rating and a $14.00 price target on the stock. Ten investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $13.20.

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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