VIRGINIA RETIREMENT SYSTEMS ET Al Invests $22 Million in Rithm Capital Corp. $RITM

Key Points

• Virginia Retirement Systems purchased 2.34 million Rithm Capital shares worth approximately $22 million, taking a 0.42% stake. Institutional investors collectively own 44.92% of the company.
• Analyst sentiment remains positive, with 10 Buy ratings and one Hold rating, producing a consensus “Moderate Buy” rating and an average price target of $13.15 versus the stock’s $10.10 price.
• Rithm Capital reported quarterly EPS of $0.60, beating estimates by $0.10, and maintains a quarterly dividend of $0.25, equivalent to a 9.9% annualized yield.

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Rithm Capital Corp. (NYSE:RITM - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 2,343,033 shares of the real estate investment trust's stock, valued at approximately $22,001,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned 0.42% of Rithm Capital at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. California State Teachers Retirement System boosted its holdings in Rithm Capital by 882.5% in the 2nd quarter. California State Teachers Retirement System now owns 6,104,383 shares of the real estate investment trust's stock valued at $57,320,000 after purchasing an additional 5,483,068 shares during the period. Ameritas Advisory Services LLC purchased a new position in shares of Rithm Capital during the 2nd quarter valued at $43,000. TD Waterhouse Canada Inc. increased its holdings in shares of Rithm Capital by 3,496.8% in the second quarter. TD Waterhouse Canada Inc. now owns 55,750 shares of the real estate investment trust's stock worth $521,000 after purchasing an additional 54,200 shares during the period. NEOS Investment Management LLC increased its holdings in shares of Rithm Capital by 16.4% in the second quarter. NEOS Investment Management LLC now owns 114,591 shares of the real estate investment trust's stock worth $1,076,000 after purchasing an additional 16,154 shares during the period. Finally, Wellington Management Group LLP raised its position in shares of Rithm Capital by 14.4% in the second quarter. Wellington Management Group LLP now owns 11,616,077 shares of the real estate investment trust's stock worth $109,075,000 after buying an additional 1,466,315 shares in the last quarter. 44.92% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on RITM. Wall Street Zen raised Rithm Capital from a "sell" rating to a "hold" rating in a research note on Saturday, August 1st. Citizens Jmp upped their target price on Rithm Capital from $12.50 to $13.50 and gave the stock a "market outperform" rating in a research note on Wednesday, May 20th. Citigroup reaffirmed an "outperform" rating on shares of Rithm Capital in a report on Wednesday, May 20th. BTIG Research dropped their price target 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 assumed coverage on Rithm Capital in a report on Monday, June 8th. They set a "buy" rating and a $14.00 price objective for the company. Ten research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Rithm Capital presently has an average rating of "Moderate Buy" and an average price target of $13.15.

Rithm Capital Stock Up 0.2%

Shares of NYSE RITM opened at $10.10 on Tuesday. Rithm Capital Corp. has a one year low of $8.43 and a one year high of $12.74. 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 firm's 50 day simple moving average is $9.75 and its two-hundred day simple moving average is $9.64. The stock has a market capitalization of $5.64 billion, a P/E ratio of 16.83, a PEG ratio of 0.64 and a beta of 1.12.

Rithm Capital (NYSE:RITM - Get Free Report) last posted its quarterly earnings results 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, analysts expect that Rithm Capital Corp. will post 2.26 EPS for the current fiscal year.

Rithm Capital Dividend Announcement

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

Insider Buying and Selling

In other Rithm Capital news, Director Peggy Hebard sold 14,520 shares of the business's stock in a transaction on Thursday, August 20th. The shares were sold at an average price of $10.18, for a total value of $147,813.60. Following the completion of 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.57% of the stock is currently owned by insiders.

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.

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.