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

Columbus Macro LLC lifted its position in shares of Rithm Capital Corp. (NYSE:RITM) by 38.0% in the 1st quarter, Holdings Channel reports. The fund 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’s holdings in Rithm Capital were worth $9,329,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the company. AQR Capital Management LLC boosted its stake in Rithm Capital by 20.4% during the 1st quarter. AQR Capital Management LLC now owns 77,625 shares of the real estate investment trust’s stock valued at $889,000 after purchasing an additional 13,166 shares during the period. NewEdge Advisors LLC increased its stake in shares of 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 period. Goldman Sachs Group Inc. raised its holdings in shares of Rithm Capital by 75.6% during 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 buying an additional 662,585 shares during the last quarter. Geneos Wealth Management Inc. raised its holdings in shares of Rithm Capital by 14.3% during the first quarter. Geneos Wealth Management Inc. now owns 7,031 shares of the real estate investment trust’s stock valued at $81,000 after buying an additional 881 shares during the last quarter. Finally, M&T Bank Corp boosted its position in shares of Rithm Capital by 13.9% during the second quarter. M&T Bank Corp now owns 26,173 shares of the real estate investment trust’s stock worth $296,000 after buying an additional 3,200 shares during the period. 44.92% of the stock is currently owned by institutional investors.

Rithm Capital Stock Performance

Shares of NYSE RITM opened at $9.32 on Friday. The stock has a fifty day moving average price of $9.48 and a two-hundred day moving average price of $10.16. The company has a debt-to-equity ratio of 4.02, a quick ratio of 1.28 and a current ratio of 1.28. The firm has a market cap of $5.21 billion, a P/E ratio of 8.56 and a beta of 1.14. Rithm Capital Corp. has a 1 year low of $8.43 and a 1 year high of $12.74.

Rithm Capital (NYSE:RITM) last posted its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.02). Rithm Capital had a return on equity of 19.48% and a net margin of 14.44%.The firm had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.27 billion. Research analysts forecast that Rithm Capital Corp. will post 2.27 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 10.7%. 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 Upgrades and Downgrades

A number of brokerages recently issued reports on RITM. Capital One Financial set a $12.50 price objective on Rithm Capital in a report on Thursday, April 9th. Wall Street Zen lowered Rithm Capital from a “hold” rating to a “sell” rating in a report on Saturday, June 20th. Weiss Ratings cut shares of Rithm Capital from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, May 26th. BTIG Research decreased their target price on shares of 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, UBS Group lowered their target price on shares of Rithm Capital from $15.00 to $14.50 and set a “buy” rating on the stock in a research note on Friday, April 10th. Ten investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $13.35.

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.