Waterloo Capital L.P. Buys 17,118 Shares of Rithm Capital Corp. $RITM

Waterloo Capital L.P. raised its stake in Rithm Capital Corp. (NYSE:RITM) by 4.6% in the second quarter, Holdings Channel reports. The firm owned 391,278 shares of the real estate investment trust’s stock after acquiring an additional 17,118 shares during the quarter. Waterloo Capital L.P.’s holdings in Rithm Capital were worth $4,418,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Kingstone Capital Partners Texas LLC acquired a new stake in shares of Rithm Capital in the 2nd quarter valued at approximately $96,027,000. Geode Capital Management LLC raised its holdings in shares of Rithm Capital by 1.1% in the 2nd quarter. Geode Capital Management LLC now owns 8,991,146 shares of the real estate investment trust’s stock valued at $101,528,000 after purchasing an additional 98,307 shares during the period. Wellington Management Group LLP lifted its stake in Rithm Capital by 36.3% in the 1st quarter. Wellington Management Group LLP now owns 4,907,737 shares of the real estate investment trust’s stock valued at $56,194,000 after purchasing an additional 1,307,276 shares during the last quarter. Mackenzie Financial Corp lifted its stake in Rithm Capital by 288.6% in the 1st quarter. Mackenzie Financial Corp now owns 2,725,392 shares of the real estate investment trust’s stock valued at $31,206,000 after purchasing an additional 2,024,090 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Rithm Capital during the second quarter worth about $24,938,000. Institutional investors and hedge funds own 44.92% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on RITM shares. UBS Group upped their price objective on Rithm Capital from $14.00 to $16.00 and gave the company a “buy” rating in a research note on Wednesday, September 3rd. Weiss Ratings downgraded shares of Rithm Capital from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday. BTIG Research reiterated a “buy” rating and issued a $16.00 price target on shares of Rithm Capital in a research note on Wednesday, September 17th. Jones Trading restated a “buy” rating and set a $13.50 price objective on shares of Rithm Capital in a research report on Thursday, October 30th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $14.00 target price on shares of Rithm Capital in a research report on Wednesday, August 6th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Rithm Capital presently has an average rating of “Buy” and an average target price of $14.25.

Rithm Capital Trading Up 2.1%

Shares of NYSE:RITM opened at $11.02 on Friday. The business’s 50 day simple moving average is $11.18 and its 200 day simple moving average is $11.58. Rithm Capital Corp. has a 1 year low of $9.13 and a 1 year high of $12.74. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.45 and a quick ratio of 0.45. The company has a market capitalization of $6.11 billion, a P/E ratio of 7.60 and a beta of 1.30.

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

Rithm Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Wednesday, October 1st were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 9.1%. The ex-dividend date was Wednesday, October 1st. Rithm Capital’s dividend payout ratio is presently 68.97%.

Insider Activity

In other news, insider David Zeiden sold 19,285 shares of the company’s stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $11.11, for a total transaction of $214,256.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael Nierenberg sold 301,548 shares of the stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $11.00, for a total transaction of $3,317,028.00. The disclosure for this sale is available in the SEC filing. 0.44% of the stock is owned by company insiders.

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.