LFG Wealth Partners LLC Buys Shares of 121,938 Rithm Capital Corp. $RITM

LFG Wealth Partners LLC purchased a new position in shares of Rithm Capital Corp. (NYSE:RITM) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 121,938 shares of the real estate investment trust’s stock, valued at approximately $1,329,000.

Several other institutional investors and hedge funds also recently made changes to their positions in RITM. Norges Bank purchased a new stake in Rithm Capital during the 4th quarter worth about $77,067,000. Qube Research & Technologies Ltd grew its holdings in Rithm Capital by 80.7% during the 3rd quarter. Qube Research & Technologies Ltd now owns 7,890,987 shares of the real estate investment trust’s stock valued at $89,878,000 after buying an additional 3,524,330 shares in the last quarter. UBS Group AG increased its position in shares of Rithm Capital by 127.9% during the third quarter. UBS Group AG now owns 3,718,822 shares of the real estate investment trust’s stock valued at $42,357,000 after buying an additional 2,087,282 shares during the period. Balyasny Asset Management L.P. increased its position in shares of Rithm Capital by 52.1% during the third quarter. Balyasny Asset Management L.P. now owns 5,939,093 shares of the real estate investment trust’s stock valued at $67,646,000 after buying an additional 2,033,973 shares during the period. Finally, Meteora Capital LLC purchased a new stake in shares of Rithm Capital in the third quarter worth about $19,441,000. Institutional investors own 44.92% of the company’s stock.

Rithm Capital Trading Down 1.2%

NYSE RITM opened at $9.20 on Tuesday. The stock’s fifty day moving average price is $9.57 and its 200-day moving average price is $10.29. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 4.02. The stock has a market cap of $5.13 billion, a P/E ratio of 8.44 and a beta of 1.14. Rithm Capital Corp. has a 12 month low of $8.43 and a 12 month high of $12.74.

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

Rithm Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 30th. Investors of record on Monday, April 6th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, April 6th. This represents a $1.00 annualized dividend and a dividend yield of 10.9%. Rithm Capital’s dividend payout ratio (DPR) is 91.74%.

Insider Activity

In other news, Director David Saltzman sold 80,922 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $9.25, for a total transaction of $748,528.50. Following the completion of the transaction, the director directly owned 44,248 shares of the company’s stock, valued at $409,294. The trade was a 64.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.57% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

RITM has been the topic of several research analyst reports. UBS Group decreased their price target on shares of Rithm Capital from $15.00 to $14.50 and set a “buy” rating on the stock in a report on Friday, April 10th. Compass Point initiated coverage on shares of Rithm Capital in a report on Monday, June 8th. They set a “buy” rating and a $14.00 price target for the company. Wall Street Zen cut shares of Rithm Capital from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. JonesTrading reaffirmed a “buy” rating and issued a $13.50 price target on shares of Rithm Capital in a research note on Tuesday, April 28th. Finally, Capital One Financial set a $12.50 price objective on Rithm Capital in a research report on Thursday, April 9th. Ten investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $13.65.

Rithm Capital Company 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.