Commonwealth of Pennsylvania Public School Empls Retrmt SYS Makes New $1.30 Million Investment in Rithm Capital Corp. $RITM

Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in Rithm Capital Corp. (NYSE:RITM) in the 1st quarter, Holdings Channel reports. The firm acquired 137,466 shares of the real estate investment trust’s stock, valued at approximately $1,303,000.

Several other institutional investors and hedge funds have also modified their holdings of RITM. Vanguard Group Inc. raised its stake in shares of Rithm Capital by 2.4% in the 4th quarter. Vanguard Group Inc. now owns 50,282,841 shares of the real estate investment trust’s stock valued at $548,083,000 after acquiring an additional 1,191,923 shares during the period. State Street Corp lifted its stake in Rithm Capital by 5.3% in the fourth quarter. State Street Corp now owns 10,557,874 shares of the real estate investment trust’s stock valued at $117,701,000 after buying an additional 530,607 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Rithm Capital by 4.8% during the fourth quarter. Geode Capital Management LLC now owns 9,621,935 shares of the real estate investment trust’s stock worth $104,904,000 after acquiring an additional 443,144 shares during the last quarter. Qube Research & Technologies Ltd raised its holdings in shares of Rithm Capital by 80.7% during the third quarter. Qube Research & Technologies Ltd now owns 7,890,987 shares of the real estate investment trust’s stock valued at $89,878,000 after buying an additional 3,524,330 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Rithm Capital in the fourth quarter worth $77,067,000. Hedge funds and other institutional investors own 44.92% of the company’s stock.

Insiders Place Their Bets

In other news, Director David Saltzman sold 80,922 shares of Rithm Capital 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 completion of 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.57% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts recently commented on RITM shares. JonesTrading reissued a “buy” rating and set a $13.50 target price on shares of Rithm Capital in a research note on Tuesday, April 28th. Capital One Financial set a $12.50 target price on Rithm Capital in a research note on Thursday, April 9th. Compass Point assumed coverage on Rithm Capital in a research note on Monday, June 8th. They set a “buy” rating and a $14.00 price target for the company. BTIG Research cut their price objective on Rithm Capital from $16.00 to $13.00 and set a “buy” rating on the stock in a research note on Tuesday, June 16th. Finally, Piper Sandler reduced their target price on Rithm Capital from $14.00 to $12.50 and set an “overweight” rating for the company in a report on Thursday, July 2nd. Ten investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $13.20.

Rithm Capital Trading Down 1.2%

RITM opened at $9.31 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 stock has a market capitalization of $5.20 billion, a PE ratio of 8.55 and a beta of 1.14. The firm has a 50-day moving average price of $9.24 and a two-hundred day moving average price of $9.96.

Rithm Capital (NYSE:RITM) last announced its earnings results on Tuesday, April 28th. The real estate investment trust reported $0.51 EPS 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 company had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.27 billion. As a group, equities analysts anticipate that Rithm Capital Corp. will post 2.23 earnings per share for the current fiscal year.

Rithm Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Thursday, July 2nd will be given a $0.25 dividend. The ex-dividend date of this dividend is Thursday, July 2nd. This represents a $1.00 annualized dividend and a dividend yield of 10.7%. Rithm Capital’s dividend payout ratio is presently 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.