Frank Rimerman Advisors LLC Takes Position in Rithm Capital Corp. $RITM

Frank Rimerman Advisors LLC acquired a new stake in shares of Rithm Capital Corp. (NYSE:RITM) during the second quarter, HoldingsChannel reports. The firm acquired 45,831 shares of the real estate investment trust’s stock, valued at approximately $517,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. SouthState Corp bought a new stake in shares of Rithm Capital during the 1st quarter worth about $25,000. Cullen Frost Bankers Inc. acquired a new position in shares of Rithm Capital during the second quarter valued at approximately $30,000. Ameritas Advisory Services LLC bought a new stake in Rithm Capital during the second quarter worth approximately $43,000. SVB Wealth LLC acquired a new stake in Rithm Capital in the first quarter worth approximately $57,000. Finally, GAMMA Investing LLC boosted its stake in Rithm Capital by 19.1% during the 2nd quarter. GAMMA Investing LLC now owns 5,528 shares of the real estate investment trust’s stock valued at $62,000 after purchasing an additional 887 shares in the last quarter. Institutional investors own 44.92% of the company’s stock.

Analysts Set New Price Targets

RITM has been the topic of a number of research reports. Keefe, Bruyette & Woods boosted their price objective on Rithm Capital from $13.50 to $14.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 29th. Wedbush reiterated an “outperform” rating and issued a $14.00 price target on shares of Rithm Capital in a research report on Wednesday, August 6th. BTIG Research reissued a “buy” rating and issued a $16.00 price target on shares of Rithm Capital in a report on Wednesday, September 17th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Rithm Capital in a research note on Thursday, November 13th. Finally, Royal Bank Of Canada boosted their target price on shares of Rithm Capital from $13.00 to $14.00 and gave the stock an “outperform” rating in a report on Friday, August 1st. One analyst has rated the stock with a Strong Buy rating and nine have assigned a Buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $14.25.

Insider Buying and Selling

In other Rithm Capital news, CEO Michael Nierenberg sold 301,548 shares of Rithm Capital stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $11.00, for a total transaction of $3,317,028.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider David Zeiden sold 19,285 shares of the business’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 disclosure for this sale is available in the SEC filing. Company insiders own 0.44% of the company’s stock.

Rithm Capital Trading Down 0.3%

NYSE:RITM opened at $10.84 on Thursday. The stock has a fifty day simple moving average of $11.24 and a 200 day simple moving average of $11.59. The firm has a market capitalization of $6.01 billion, a price-to-earnings ratio of 7.47 and a beta of 1.30. Rithm Capital Corp. has a 1-year low of $9.13 and a 1-year high of $12.74. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 1.52.

Rithm Capital (NYSE:RITM) last posted its quarterly earnings data on Thursday, October 30th. The real estate investment trust reported $0.54 EPS for the quarter, meeting analysts’ consensus estimates of $0.54. Rithm Capital had a net margin of 17.08% and a return on equity of 18.82%. The company had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.07 billion. Sell-side analysts forecast that Rithm Capital Corp. will post 1.93 earnings per share for the current year.

Rithm Capital Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Wednesday, October 1st were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 9.2%. The ex-dividend date was Wednesday, October 1st. Rithm Capital’s dividend payout ratio is 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.