Oregon Public Employees Retirement Fund Makes New Investment in Rithm Capital Corp. $RITM

Oregon Public Employees Retirement Fund bought a new stake in shares of Rithm Capital Corp. (NYSE:RITM) in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 127,100 shares of the real estate investment trust’s stock, valued at approximately $1,205,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Saxon Interests Inc. raised its holdings in shares of Rithm Capital by 64.5% during the first quarter. Saxon Interests Inc. now owns 17,560 shares of the real estate investment trust’s stock worth $166,000 after acquiring an additional 6,884 shares in the last quarter. Sage Rhino Capital LLC purchased a new position in Rithm Capital in the first quarter valued at about $247,000. Westbourne Investment Advisors Inc. grew its stake in Rithm Capital by 2.7% in the first quarter. Westbourne Investment Advisors Inc. now owns 57,000 shares of the real estate investment trust’s stock valued at $540,000 after purchasing an additional 1,500 shares in the last quarter. Abel Hall LLC acquired a new position in Rithm Capital in the 1st quarter worth about $97,000. Finally, Bogart Wealth LLC increased its position in Rithm Capital by 108.5% in the 1st quarter. Bogart Wealth LLC now owns 4,120 shares of the real estate investment trust’s stock worth $39,000 after purchasing an additional 2,144 shares during the last quarter. 44.92% of the stock is currently owned by hedge funds and other institutional investors.

Rithm Capital Price Performance

NYSE RITM opened at $9.09 on Tuesday. 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 fifty day simple moving average of $9.28 and a 200 day simple moving average of $10.00. The company has a market cap of $5.07 billion, a P/E ratio of 8.33 and a beta of 1.14.

Rithm Capital (NYSE:RITM) last posted its quarterly earnings data 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 business had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.27 billion. Rithm Capital had a return on equity of 19.48% and a net margin of 14.44%. On average, sell-side analysts predict that Rithm Capital Corp. will post 2.23 EPS for the current year.

Rithm Capital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Thursday, July 2nd will be issued a $0.25 dividend. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $1.00 dividend on an annualized basis and a yield of 11.0%. Rithm Capital’s dividend payout ratio is 91.74%.

Insiders Place Their Bets

In other Rithm Capital news, Director David Saltzman sold 80,922 shares of the firm’s 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 $409,294. This trade represents a 64.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.57% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on RITM shares. Compass Point assumed coverage on Rithm Capital in a report on Monday, June 8th. They set a “buy” rating and a $14.00 price target for the company. Wall Street Zen downgraded Rithm Capital from a “hold” rating to a “sell” rating in a report on Monday, July 6th. Citizens Jmp raised 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 report on Wednesday, May 20th. Capital One Financial set a $12.50 price objective on shares of Rithm Capital in a research report on Thursday, April 9th. Finally, Wedbush dropped their price target on shares of Rithm Capital from $14.00 to $12.50 and set an “outperform” rating on the stock in a research note on Friday, May 1st. 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, Rithm Capital currently has an average rating of “Moderate Buy” and an average price target of $13.20.

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.