Maryland State Retirement & Pension System Raises Stock Holdings in Rithm Capital Corp. $RITM

Maryland State Retirement & Pension System lifted its stake in Rithm Capital Corp. (NYSE:RITM) by 335.8% during the 1st quarter, Holdings Channel reports. The institutional investor owned 105,762 shares of the real estate investment trust’s stock after purchasing an additional 81,491 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Rithm Capital were worth $1,003,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in RITM. Curi Capital LLC grew its stake in shares of Rithm Capital by 0.7% during the 2nd quarter. Curi Capital LLC now owns 120,262 shares of the real estate investment trust’s stock valued at $1,358,000 after acquiring an additional 829 shares during the period. Geneos Wealth Management Inc. raised its stake in Rithm Capital by 14.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 7,031 shares of the real estate investment trust’s stock worth $81,000 after acquiring an additional 881 shares during the period. City Holding Co. raised its stake in Rithm Capital by 35.1% during the 4th 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 during the period. Westbourne Investment Advisors Inc. lifted its holdings in 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 valued at $605,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Fort Sheridan Advisors LLC lifted its holdings in Rithm Capital by 0.3% during the fourth 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 in the last quarter. 44.92% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Rithm Capital news, Director David Saltzman sold 80,922 shares of Rithm Capital stock in a transaction 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 sale, the director directly owned 44,248 shares in the company, valued at approximately $409,294. The trade was a 64.65% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.57% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on RITM shares. Keefe, Bruyette & Woods reduced their price objective on shares of Rithm Capital from $14.00 to $13.00 and set an “outperform” rating for the company in a research note on Friday, May 1st. BTIG Research lowered their target price on shares of Rithm Capital from $16.00 to $13.00 and set a “buy” rating on the stock in a research note on Tuesday, June 16th. Citizens Jmp lifted their target price 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. Weiss Ratings downgraded shares of Rithm Capital from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, May 26th. Finally, Royal Bank Of Canada cut their price target on Rithm Capital from $14.00 to $13.00 and set an “outperform” rating for the company in a research note on Friday, May 1st. Ten research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $13.20.

Rithm Capital Stock Up 2.1%

NYSE RITM opened at $9.43 on Friday. Rithm Capital Corp. has a 12 month low of $8.43 and a 12 month high of $12.74. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 4.02. The stock has a market cap of $5.26 billion, a PE ratio of 8.65 and a beta of 1.14. The stock’s 50 day moving average is $9.25 and its 200 day moving average is $9.96.

Rithm Capital (NYSE:RITM) last announced its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.02). The company had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.27 billion. Rithm Capital had a net margin of 14.44% and a return on equity of 19.48%. Research analysts predict that Rithm Capital Corp. will post 2.23 EPS for the current fiscal year.

Rithm Capital Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Thursday, July 2nd will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 10.6%. The ex-dividend date of this dividend is Thursday, July 2nd. Rithm Capital’s dividend payout ratio (DPR) is presently 91.74%.

Rithm Capital 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.