Quantinno Capital Management LP Purchases 259,929 Shares of Rithm Capital Corp. $RITM

Quantinno Capital Management LP grew its position in shares of Rithm Capital Corp. (NYSE:RITM) by 156.5% in the first quarter, HoldingsChannel reports. The fund owned 425,985 shares of the real estate investment trust’s stock after acquiring an additional 259,929 shares during the period. Quantinno Capital Management LP’s holdings in Rithm Capital were worth $4,038,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in RITM. SummitTX Capital L.P. lifted its position in shares of Rithm Capital by 88.8% in the first quarter. SummitTX Capital L.P. now owns 120,601 shares of the real estate investment trust’s stock worth $1,143,000 after purchasing an additional 56,715 shares in the last quarter. Family Manage LLC grew its position in Rithm Capital by 62.1% in the first quarter. Family Manage LLC now owns 487,557 shares of the real estate investment trust’s stock valued at $4,622,000 after purchasing an additional 186,816 shares in the last quarter. Van Diest Capital LLC bought a new position in Rithm Capital in the first quarter valued at $114,000. Waverly Advisors LLC increased its stake in Rithm Capital by 22.8% in the 1st quarter. Waverly Advisors LLC now owns 19,240 shares of the real estate investment trust’s stock valued at $182,000 after buying an additional 3,573 shares during the last quarter. Finally, Capula Management Ltd acquired a new stake in Rithm Capital in the 1st quarter valued at $2,585,000. 44.92% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, Director David Saltzman sold 80,922 shares of Rithm Capital stock in a transaction dated Wednesday, May 20th. The stock was sold at an average price of $9.25, for a total transaction of $748,528.50. Following the completion of the transaction, the director owned 44,248 shares in the company, valued at approximately $409,294. This trade represents a 64.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.57% of the company’s stock.

Wall Street Analyst Weigh In

RITM has been the subject of a number of recent research reports. Wall Street Zen upgraded shares of Rithm Capital from a “sell” rating to a “hold” rating in a research note on Saturday, August 1st. Citizens Jmp lifted their target price on Rithm Capital from $12.50 to $13.50 and gave the company a “market outperform” rating in a research report on Wednesday, May 20th. UBS Group dropped their target price on 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 began coverage on Rithm Capital in a research report on Monday, June 8th. They set a “buy” rating and a $14.00 price target for the company. Finally, Keefe, Bruyette & Woods decreased their price target on Rithm Capital from $14.00 to $13.00 and set an “outperform” rating for the company in a research note on Friday, May 1st. Ten equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $13.20.

Rithm Capital Stock Performance

NYSE RITM opened at $10.20 on Friday. The firm has a market capitalization of $5.69 billion, a P/E ratio of 16.99 and a beta of 1.14. The company has a current ratio of 0.76, a quick ratio of 1.28 and a debt-to-equity ratio of 2.19. The firm’s fifty day moving average price is $9.35 and its two-hundred day moving average price is $9.80. Rithm Capital Corp. has a 1 year low of $8.43 and a 1 year high of $12.74.

Rithm Capital (NYSE:RITM) last announced its quarterly earnings data on Tuesday, July 28th. The real estate investment trust reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.50 by $0.10. Rithm Capital had a net margin of 9.20% and a return on equity of 19.86%. As a group, research analysts anticipate that Rithm Capital Corp. will post 2.22 EPS for the current year.

Rithm Capital Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Thursday, July 2nd were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 9.8%. The ex-dividend date was Thursday, July 2nd. Rithm Capital’s dividend payout ratio (DPR) is 166.67%.

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.