LFG Wealth Partners LLC Buys New Stake in Rithm Capital Corp. $RITM

LFG Wealth Partners LLC purchased a new stake in shares of Rithm Capital Corp. (NYSE:RITM) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 121,938 shares of the real estate investment trust’s stock, valued at approximately $1,329,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Curi Capital LLC grew its stake in shares of Rithm Capital by 0.7% during the second quarter. Curi Capital LLC now owns 120,262 shares of the real estate investment trust’s stock valued at $1,358,000 after purchasing an additional 829 shares during the last quarter. Geneos Wealth Management Inc. boosted its position in shares of 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. City Holding Co. increased its holdings in shares of Rithm Capital by 35.1% in the fourth quarter. City Holding Co. now owns 3,850 shares of the real estate investment trust’s stock worth $42,000 after acquiring an additional 1,000 shares in the last quarter. Westbourne Investment Advisors Inc. increased its position in shares of Rithm Capital by 1.8% during the fourth quarter. Westbourne Investment Advisors Inc. now owns 55,500 shares of the real estate investment trust’s stock worth $605,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Fort Sheridan Advisors LLC raised its stake in shares of Rithm Capital by 0.3% in the 4th quarter. Fort Sheridan Advisors LLC now owns 367,164 shares of the real estate investment trust’s stock valued at $4,002,000 after purchasing an additional 1,000 shares during the period. 44.92% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on RITM. JonesTrading reissued a “buy” rating and issued a $13.50 price objective on shares of Rithm Capital in a research report on Tuesday, April 28th. Keefe, Bruyette & Woods cut their price target on Rithm Capital from $14.00 to $13.00 and set an “outperform” rating for the company in a report on Friday, May 1st. Piper Sandler lowered their target price on shares of Rithm Capital from $15.00 to $14.00 and set an “overweight” rating on the stock in a report on Thursday, April 2nd. Wedbush decreased their price target on Rithm Capital from $14.00 to $12.50 and set an “outperform” rating on the stock in a research note on Friday, May 1st. Finally, Citizens Jmp increased their price objective on shares of Rithm Capital from $12.50 to $13.50 and gave the company a “market outperform” rating in a research note on Wednesday, May 20th. Ten analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, Rithm Capital presently has a consensus rating of “Moderate Buy” and a consensus target price of $13.65.

Insider Buying and Selling at Rithm Capital

In other news, 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 value of $748,528.50. Following the completion of the transaction, the director directly owned 44,248 shares of the company’s stock, valued at $409,294. This represents a 64.65% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.57% of the stock is owned by insiders.

Rithm Capital Stock Down 1.2%

Rithm Capital stock opened at $9.20 on Tuesday. The company has a market capitalization of $5.13 billion, a PE ratio of 8.44 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 firm’s fifty day moving average is $9.57 and its 200 day moving average is $10.29. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 4.02.

Rithm Capital (NYSE:RITM) last issued its earnings results on Tuesday, April 28th. The real estate investment trust reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.02). The firm had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.27 billion. Rithm Capital had a net margin of 14.44% and a return on equity of 19.48%. As a group, sell-side analysts predict that Rithm Capital Corp. will post 2.27 EPS for the current fiscal year.

Rithm Capital Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, April 30th. Shareholders of record on Monday, April 6th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, April 6th. This represents a $1.00 annualized dividend and a dividend yield of 10.9%. Rithm Capital’s dividend payout ratio (DPR) is currently 91.74%.

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.