Elo Mutual Pension Insurance Co Grows Stake in Rithm Capital Corp. $RITM

Elo Mutual Pension Insurance Co increased its position in Rithm Capital Corp. (NYSE:RITM) by 47.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 116,612 shares of the real estate investment trust’s stock after acquiring an additional 37,372 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Rithm Capital were worth $1,317,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Geneos Wealth Management Inc. boosted its position in Rithm Capital by 14.3% in the first quarter. Geneos Wealth Management Inc. now owns 7,031 shares of the real estate investment trust’s stock worth $81,000 after purchasing an additional 881 shares during the last quarter. GAMMA Investing LLC boosted its holdings in shares of Rithm Capital by 19.1% in the second quarter. GAMMA Investing LLC now owns 5,528 shares of the real estate investment trust’s stock worth $62,000 after buying an additional 887 shares during the last quarter. Townsquare Capital LLC grew its position in Rithm Capital by 3.7% during the first quarter. Townsquare Capital LLC now owns 30,439 shares of the real estate investment trust’s stock valued at $349,000 after buying an additional 1,088 shares during the period. CWM LLC increased its holdings in Rithm Capital by 25.5% during the first quarter. CWM LLC now owns 6,046 shares of the real estate investment trust’s stock valued at $69,000 after buying an additional 1,228 shares during the last quarter. Finally, Foster Victor Wealth Advisors LLC increased its holdings in Rithm Capital by 2.3% during the second quarter. Foster Victor Wealth Advisors LLC now owns 60,618 shares of the real estate investment trust’s stock valued at $710,000 after buying an additional 1,361 shares during the last quarter. Hedge funds and other institutional investors own 44.92% of the company’s stock.

Insider Buying and Selling

In related news, insider David Zeiden sold 19,285 shares of the company’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of $11.11, for a total transaction of $214,256.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael Nierenberg sold 301,548 shares of the firm’s stock in a transaction on Wednesday, November 5th. The shares were sold at an average price of $11.00, for a total transaction of $3,317,028.00. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. UBS Group lifted their price target on shares of Rithm Capital from $14.00 to $16.00 and gave the stock a “buy” rating in a research note on Wednesday, September 3rd. Royal Bank Of Canada lifted their target price on Rithm Capital from $13.00 to $14.00 and gave the company an “outperform” rating in a research report on Friday, August 1st. Wedbush reissued an “outperform” rating and set a $14.00 price target on shares of Rithm Capital in a report on Wednesday, August 6th. BTIG Research reaffirmed a “buy” rating and issued a $16.00 price objective on shares of Rithm Capital in a research note on Wednesday, September 17th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Rithm Capital in a research report on Tuesday. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Rithm Capital currently has a consensus rating of “Buy” and a consensus target price of $14.25.

Rithm Capital Trading Up 1.2%

Shares of RITM stock opened at $11.53 on Friday. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.45 and a current ratio of 0.45. The stock has a fifty day simple moving average of $11.10 and a two-hundred day simple moving average of $11.59. The firm has a market capitalization of $6.39 billion, a PE ratio of 7.95 and a beta of 1.30. Rithm Capital Corp. has a 52-week low of $9.13 and a 52-week high of $12.74.

Rithm Capital (NYSE:RITM) last announced its quarterly earnings data on Thursday, October 30th. The real estate investment trust reported $0.54 EPS for the quarter, meeting 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 the consensus estimate of $1.07 billion. On average, analysts predict that Rithm Capital Corp. will post 1.93 EPS for the current fiscal year.

Rithm Capital Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Wednesday, October 1st were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 8.7%. The ex-dividend date was Wednesday, October 1st. Rithm Capital’s dividend payout ratio is presently 68.97%.

Rithm Capital Company Profile

Rithm Capital Corp. operates as an asset manager focused on real estate, credit, and financial services. It operates through Origination and Servicing, Investment Portfolio, Mortgage Loans Receivable, and Asset Management segments. Its investment portfolio primarily comprises of mortgage servicing rights (MSR), and MSR financing receivables, title, appraisal and property preservation, excess MSRs, and services advance investments; real estate securities, call rights, SFR properties, and residential mortgage loans; consumer and business purpose loans; and asset management related investments.