Rithm Capital Corp. $RITM Stock Position Cut by Mariner Investment Group LLC

Mariner Investment Group LLC decreased its stake in shares of Rithm Capital Corp. (NYSE:RITM) by 10.9% during the 4th quarter, Holdings Channel reports. The institutional investor owned 868,711 shares of the real estate investment trust’s stock after selling 106,289 shares during the period. Rithm Capital comprises approximately 0.6% of Mariner Investment Group LLC’s holdings, making the stock its 25th largest position. Mariner Investment Group LLC’s holdings in Rithm Capital were worth $9,469,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. AQR Capital Management LLC lifted its stake in shares of Rithm Capital by 20.4% in the 1st quarter. AQR Capital Management LLC now owns 77,625 shares of the real estate investment trust’s stock worth $889,000 after acquiring an additional 13,166 shares during the period. NewEdge Advisors LLC increased its stake in shares of Rithm Capital by 5.3% during the first quarter. NewEdge Advisors LLC now owns 31,311 shares of the real estate investment trust’s stock valued at $359,000 after acquiring an additional 1,585 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of Rithm Capital by 75.6% during the first quarter. Goldman Sachs Group Inc. now owns 1,539,483 shares of the real estate investment trust’s stock valued at $17,627,000 after acquiring an additional 662,585 shares during the period. Geneos Wealth Management Inc. raised its holdings in Rithm Capital by 14.3% during 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 in the last quarter. Finally, M&T Bank Corp raised its holdings in Rithm Capital by 13.9% during the second quarter. M&T Bank Corp now owns 26,173 shares of the real estate investment trust’s stock worth $296,000 after purchasing an additional 3,200 shares in the last quarter. 44.92% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on RITM shares. UBS Group decreased their price target on Rithm Capital from $15.00 to $14.50 and set a “buy” rating for the company in a research note on Friday, April 10th. Weiss Ratings downgraded Rithm Capital from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, May 26th. Wedbush cut their price objective on Rithm Capital from $14.00 to $12.50 and set an “outperform” rating for the company in a report on Friday, May 1st. Royal Bank Of Canada decreased their target price 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. Finally, Wall Street Zen lowered Rithm Capital from a “buy” rating to a “hold” rating in a report on Saturday, May 2nd. Ten equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Rithm Capital presently has a consensus rating of “Moderate Buy” and a consensus target price of $13.35.

Insider Activity

In other news, Director David Saltzman sold 80,922 shares of the business’s stock in a transaction on Wednesday, May 20th. The stock was sold at an average price of $9.25, for a total transaction of $748,528.50. Following the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.57% of the stock is owned by insiders.

Rithm Capital Stock Up 0.1%

RITM stock opened at $9.21 on Friday. The firm has a market cap of $5.14 billion, a PE ratio of 8.45 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. The company has a debt-to-equity ratio of 4.02, a current ratio of 1.28 and a quick ratio of 1.28. The firm has a 50 day simple moving average of $9.55 and a 200 day simple moving average of $10.24.

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

Rithm Capital Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 30th. Investors of record on Monday, April 6th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 10.9%. The ex-dividend date was Monday, April 6th. Rithm Capital’s payout ratio is presently 91.74%.

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.