Capula Management Ltd Makes New $2.58 Million Investment in Rithm Capital Corp. $RITM

Capula Management Ltd acquired a new position in shares of Rithm Capital Corp. (NYSE:RITM) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 272,699 shares of the real estate investment trust’s stock, valued at approximately $2,585,000.

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

Rithm Capital Price Performance

Shares of RITM opened at $8.99 on Friday. The company has a debt-to-equity ratio of 4.02, a current ratio of 1.28 and a quick ratio of 1.28. Rithm Capital Corp. has a 1-year low of $8.43 and a 1-year high of $12.74. The stock has a market cap of $5.02 billion, a PE ratio of 8.25 and a beta of 1.14. The firm has a fifty day moving average price of $9.21 and a 200 day moving average price of $9.90.

Rithm Capital (NYSE:RITM) last issued its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $0.51 earnings per share (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 firm had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.27 billion. As a group, sell-side analysts anticipate that Rithm Capital Corp. will post 2.23 EPS for the current year.

Rithm Capital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors 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 dividend on an annualized basis and a dividend yield of 11.1%. Rithm Capital’s dividend payout ratio is 91.74%.

Analysts Set New Price Targets

RITM has been the subject of several recent research reports. Capital One Financial set a $12.50 price objective on Rithm Capital in a research note on Thursday, April 9th. Compass Point began coverage on shares of Rithm Capital in a report on Monday, June 8th. They issued a “buy” rating and a $14.00 target price on the stock. Keefe, Bruyette & Woods decreased their price target 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. Weiss Ratings downgraded shares of Rithm Capital from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, May 26th. Finally, BTIG Research lowered their price target on shares of Rithm Capital from $16.00 to $13.00 and set a “buy” rating for the company in a report on Tuesday, June 16th. Ten investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Rithm Capital currently has an average rating of “Moderate Buy” and a consensus target price of $13.20.

Insider Transactions at Rithm Capital

In related news, Director David Saltzman sold 80,922 shares of the firm’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 transaction of $748,528.50. Following the transaction, the director 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 filing with the SEC, which is available through the SEC website. 0.57% of the stock is owned by corporate insiders.

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.