Rithm Capital Corp. (RITM) To Go Ex-Dividend on December 31st

Rithm Capital Corp. (NYSE:RITM) announced a quarterly dividend on Thursday, December 18th. Shareholders of record on Wednesday, December 31st will be paid a dividend of 0.25 per share by the real estate investment trust on Friday, January 30th. This represents a c) annualized dividend and a yield of 8.9%. The ex-dividend date of this dividend is Wednesday, December 31st.

Rithm Capital has decreased its dividend by an average of 0.1%annually over the last three years. Rithm Capital has a payout ratio of 46.5% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Rithm Capital to earn $2.06 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 48.5%.

Rithm Capital Trading Down 0.4%

Rithm Capital stock opened at $11.19 on Friday. The company has a market cap of $6.20 billion, a price-to-earnings ratio of 7.72 and a beta of 1.22. The firm has a 50-day moving average of $11.07 and a 200-day moving average of $11.57. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.45 and a quick ratio of 0.45. Rithm Capital has a one year low of $9.13 and a one year high of $12.74.

Rithm Capital (NYSE:RITM) last released its earnings results on Thursday, October 30th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.54. Rithm Capital had a return on equity of 18.82% and a net margin of 17.08%.The business had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.07 billion. On average, equities analysts expect that Rithm Capital will post 1.93 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider David Zeiden sold 19,285 shares of the stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $11.11, for a total value of $214,256.35. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Michael Nierenberg sold 301,548 shares of the firm’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $11.00, for a total transaction of $3,317,028.00. The SEC filing for this sale provides additional information. Insiders own 0.44% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Cullen Frost Bankers Inc. acquired a new stake in Rithm Capital during the second quarter worth about $30,000. Bessemer Group Inc. lifted its holdings in shares of Rithm Capital by 658.9% during the 3rd quarter. Bessemer Group Inc. now owns 2,656 shares of the real estate investment trust’s stock worth $30,000 after acquiring an additional 2,306 shares during the period. Atlantic Union Bankshares Corp bought a new stake in shares of Rithm Capital during the 3rd quarter worth approximately $31,000. Mather Group LLC. acquired a new stake in shares of Rithm Capital during the 3rd quarter worth approximately $33,000. Finally, Optimum Investment Advisors increased its stake in Rithm Capital by 200.0% in the third quarter. Optimum Investment Advisors now owns 3,000 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 2,000 shares during the last quarter. Institutional investors and hedge funds own 44.92% of the company’s stock.

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.