Rithm Capital (NYSE:RITM) Director Sells $748,528.50 in Stock

Rithm Capital Corp. (NYSE:RITM) Director David Saltzman sold 80,922 shares of the company’s stock in a transaction that occurred 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 approximately $409,294. This trade represents a 64.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

Rithm Capital Price Performance

NYSE:RITM traded up $0.01 during mid-day trading on Friday, reaching $9.27. The stock had a trading volume of 3,456,180 shares, compared to its average volume of 9,774,925. The stock has a 50-day simple moving average of $9.60 and a two-hundred day simple moving average of $10.50. The stock has a market capitalization of $5.17 billion, a PE ratio of 8.50 and a beta of 1.17. The company has a debt-to-equity ratio of 4.02, a current ratio of 1.28 and a quick ratio of 1.28. 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 earnings results on Tuesday, April 28th. The real estate investment trust reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.02). Rithm Capital had a return on equity of 19.48% and a net margin of 14.44%.The business had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.27 billion. On average, equities analysts anticipate that Rithm Capital Corp. will post 2.27 earnings per share for the current 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. This represents a $1.00 annualized dividend and a dividend yield of 10.8%. The ex-dividend date was Monday, April 6th. Rithm Capital’s dividend payout ratio is currently 91.74%.

Hedge Funds Weigh In On Rithm Capital

Several large investors have recently bought and sold shares of the company. CoreCap Advisors LLC grew its holdings in shares of Rithm Capital by 99.2% during the fourth quarter. CoreCap Advisors LLC now owns 2,295 shares of the real estate investment trust’s stock worth $25,000 after purchasing an additional 1,143 shares during the last quarter. Los Angeles Capital Management LLC bought a new position in Rithm Capital in the 4th quarter valued at approximately $26,000. Bessemer Group Inc. boosted its position in Rithm Capital by 658.9% during the 3rd quarter. Bessemer Group Inc. now owns 2,656 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 2,306 shares during the period. Atlantic Union Bankshares Corp acquired a new stake in Rithm Capital during the 3rd quarter worth approximately $31,000. Finally, FNY Investment Advisers LLC bought a new stake in Rithm Capital during the 4th quarter worth approximately $31,000. 44.92% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the company. UBS Group decreased their target price on Rithm Capital from $15.00 to $14.50 and set a “buy” rating on the stock in a research report on Friday, April 10th. Citigroup restated an “outperform” rating on shares of Rithm Capital in a research note on Wednesday. Citizens Jmp lifted their price target on shares of Rithm Capital from $12.50 to $13.50 and gave the company a “market outperform” rating in a report on Wednesday. Capital One Financial set a $12.50 price objective on shares of Rithm Capital in a research report on Thursday, April 9th. Finally, Wedbush dropped their price objective on shares of Rithm Capital from $14.00 to $12.50 and set an “outperform” rating for the company in a research note on Friday, May 1st. Nine investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $13.61.

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.