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

Mariner Investment Group LLC reduced its position in Rithm Capital Corp. (NYSE:RITM) by 10.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 868,711 shares of the real estate investment trust’s stock after selling 106,289 shares during the quarter. Rithm Capital makes up about 0.6% of Mariner Investment Group LLC’s investment portfolio, making the stock its 25th biggest holding. Mariner Investment Group LLC owned approximately 0.16% of Rithm Capital worth $9,469,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. CoreCap Advisors LLC increased its holdings in shares of Rithm Capital by 99.2% in the 4th quarter. CoreCap Advisors LLC now owns 2,295 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 1,143 shares during the last quarter. Los Angeles Capital Management LLC bought a new position in Rithm Capital during the fourth quarter worth $26,000. Garton & Associates Financial Advisors LLC bought a new position in Rithm Capital during the fourth quarter worth $31,000. FNY Investment Advisers LLC acquired a new position in Rithm Capital in the fourth quarter worth $31,000. Finally, Torren Management LLC bought a new stake in Rithm Capital during the fourth quarter valued at $35,000. Institutional investors and hedge funds own 44.92% of the company’s stock.

Insider Activity

In related news, Director David Saltzman sold 80,922 shares of the 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 position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 0.57% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on RITM shares. Weiss Ratings cut shares of Rithm Capital from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, May 26th. Wedbush lowered 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 report on Friday, May 1st. Capital One Financial set a $12.50 price objective on shares of Rithm Capital in a research note on Thursday, April 9th. BTIG Research cut their target price on shares of Rithm Capital from $16.00 to $13.00 and set a “buy” rating on the stock in a report on Tuesday. Finally, Citizens Jmp lifted their target price on 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 investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Rithm Capital currently has an average rating of “Moderate Buy” and an average price target of $13.35.

Rithm Capital Stock Performance

Shares of RITM opened at $9.21 on Friday. Rithm Capital Corp. has a 1 year low of $8.43 and a 1 year high of $12.74. The company has a market cap of $5.14 billion, a price-to-earnings ratio of 8.45 and a beta of 1.14. The company has a debt-to-equity ratio of 4.02, a quick ratio of 1.28 and a current ratio of 1.28. The firm has a fifty day moving average of $9.55 and a 200-day moving average of $10.24.

Rithm Capital (NYSE:RITM) last released its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $0.51 earnings per share 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 analyst estimates of $1.27 billion. Rithm Capital had a return on equity of 19.48% and a net margin of 14.44%. As a group, 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 declared a quarterly dividend, which was paid on Thursday, April 30th. Stockholders of record on Monday, April 6th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 10.9%. The ex-dividend date of this dividend was Monday, April 6th. Rithm Capital’s payout ratio is 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.