Rithm Capital Corp. $RITM Shares Sold by EMC Capital Management

EMC Capital Management cut its position in shares of Rithm Capital Corp. (NYSE:RITM) by 58.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 14,715 shares of the real estate investment trust’s stock after selling 20,656 shares during the quarter. EMC Capital Management’s holdings in Rithm Capital were worth $166,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in the business. Kingstone Capital Partners Texas LLC bought a new position in shares of Rithm Capital in the 2nd quarter worth about $96,027,000. Geode Capital Management LLC raised its stake in Rithm Capital by 1.1% during the second quarter. Geode Capital Management LLC now owns 8,991,146 shares of the real estate investment trust’s stock worth $101,528,000 after acquiring an additional 98,307 shares during the period. Wellington Management Group LLP raised its stake in Rithm Capital by 36.3% during the first quarter. Wellington Management Group LLP now owns 4,907,737 shares of the real estate investment trust’s stock worth $56,194,000 after acquiring an additional 1,307,276 shares during the period. Mackenzie Financial Corp lifted its holdings in Rithm Capital by 288.6% in the first quarter. Mackenzie Financial Corp now owns 2,725,392 shares of the real estate investment trust’s stock worth $31,206,000 after acquiring an additional 2,024,090 shares during the last quarter. Finally, Allianz Asset Management GmbH boosted its stake in Rithm Capital by 13.7% in the first quarter. Allianz Asset Management GmbH now owns 2,654,621 shares of the real estate investment trust’s stock valued at $30,395,000 after acquiring an additional 320,357 shares during the period. Institutional investors own 44.92% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on RITM shares. Jones Trading reiterated a “buy” rating and set a $13.50 price target on shares of Rithm Capital in a research report on Thursday, October 30th. BTIG Research reaffirmed a “buy” rating and issued a $16.00 target price on shares of Rithm Capital in a research report on Wednesday, September 17th. Wedbush reissued an “outperform” rating and set a $14.00 price target on shares of Rithm Capital in a report on Wednesday, August 6th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Rithm Capital in a report on Thursday, November 13th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Rithm Capital from $13.50 to $14.00 and gave the company an “outperform” rating in a research report on Tuesday, July 29th. One analyst has rated the stock with a Strong Buy rating and nine have given a Buy rating to the stock. Based on data from MarketBeat.com, Rithm Capital currently has an average rating of “Buy” and a consensus target price of $14.25.

Insider Activity at Rithm Capital

In related news, CEO Michael Nierenberg sold 301,548 shares of Rithm Capital stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $11.00, for a total value of $3,317,028.00. The sale 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 stock was sold at an average price of $11.11, for a total value of $214,256.35. The SEC filing for this sale provides additional information. Insiders own 0.44% of the company’s stock.

Rithm Capital Stock Down 0.0%

Shares of RITM stock opened at $10.86 on Wednesday. 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 market cap of $6.02 billion, a PE ratio of 7.49 and a beta of 1.30. The business’s fifty day moving average is $11.27 and its 200-day moving average is $11.59. Rithm Capital Corp. has a 1 year low of $9.13 and a 1 year high of $12.74.

Rithm Capital (NYSE:RITM) last released its earnings results on Thursday, October 30th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.54. Rithm Capital had a return on equity of 18.82% and a net margin of 17.08%.The firm had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.07 billion. Equities analysts expect that Rithm Capital Corp. will post 1.93 earnings per share for the current fiscal year.

Rithm Capital Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Wednesday, October 1st were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 9.2%. The ex-dividend date was Wednesday, October 1st. Rithm Capital’s dividend payout ratio (DPR) 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.