LSV Asset Management Buys 199,400 Shares of Rithm Capital Corp. $RITM

LSV Asset Management boosted its stake in shares of Rithm Capital Corp. (NYSE:RITM) by 3.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,319,900 shares of the real estate investment trust’s stock after purchasing an additional 199,400 shares during the period. LSV Asset Management owned about 0.96% of Rithm Capital worth $57,987,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CoreCap Advisors LLC lifted its position in 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 valued at $25,000 after purchasing an additional 1,143 shares during the period. Bessemer Group Inc. lifted its position in Rithm Capital by 658.9% during the third quarter. Bessemer Group Inc. now owns 2,656 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 2,306 shares during the period. Atlantic Union Bankshares Corp bought a new position in Rithm Capital during the third quarter valued at approximately $31,000. FNY Investment Advisers LLC bought a new position in Rithm Capital during the fourth quarter valued at approximately $31,000. Finally, Torren Management LLC bought a new position in Rithm Capital during the fourth quarter valued at approximately $35,000. Institutional investors own 44.92% of the company’s stock.

Rithm Capital Stock Up 0.1%

RITM opened at $9.27 on Friday. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 4.02. Rithm Capital Corp. has a 1-year low of $8.43 and a 1-year high of $12.74. The company has a market capitalization of $5.17 billion, a PE ratio of 8.50 and a beta of 1.17. The firm’s 50 day simple moving average is $9.59 and its two-hundred day simple moving average is $10.50.

Rithm Capital (NYSE:RITM) last released its quarterly 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 during the quarter, compared to the consensus estimate of $1.27 billion. As a group, equities analysts forecast that Rithm Capital Corp. will post 2.27 EPS for the current year.

Rithm Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, April 30th. Shareholders of record on Monday, April 6th were given a $0.25 dividend. The ex-dividend date was Monday, April 6th. This represents a $1.00 annualized dividend and a yield of 10.8%. Rithm Capital’s dividend payout ratio (DPR) is presently 91.74%.

Analysts Set New Price Targets

RITM has been the topic of a number of research analyst reports. BTIG Research restated a “buy” rating and set a $16.00 price objective on shares of Rithm Capital in a research report on Friday, April 10th. Piper Sandler lowered their price objective on shares of Rithm Capital from $15.00 to $14.00 and set an “overweight” rating on the stock in a research report on Thursday, April 2nd. Capital One Financial set a $12.50 price objective on shares of Rithm Capital in a research report on Thursday, April 9th. Citigroup restated an “outperform” rating on shares of Rithm Capital in a research report on Wednesday. Finally, JonesTrading reiterated a “buy” rating and issued a $13.50 price target on shares of Rithm Capital in a research report on Tuesday, April 28th. Nine equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Rithm Capital has a consensus rating of “Moderate Buy” and an average price target of $13.61.

Insiders Place Their Bets

In other Rithm Capital news, Director David Saltzman sold 80,922 shares of the stock in a transaction that occurred on Wednesday, May 20th. The shares were sold at an average price of $9.25, for a total value of $748,528.50. Following the transaction, the director directly 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.57% of the company’s stock.

About Rithm Capital

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.