Rithm Capital Corp. (NYSE:RITM - Get Free Report) Director Peggy Hwan Hebard sold 14,520 shares of Rithm Capital stock in a transaction dated Thursday, August 20th. The stock was sold at an average price of $10.18, for a total value of $147,813.60. Following the completion of the transaction, the director directly owned 82,259 shares of the company's stock, valued at approximately $837,396.62. This represents a 15.00% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.
Rithm Capital Stock Performance
Shares of Rithm Capital stock opened at $10.20 on Wednesday. Rithm Capital Corp. has a 1 year low of $8.43 and a 1 year high of $12.74. The firm's 50-day moving average is $9.61 and its 200 day moving average is $9.67. The stock has a market cap of $5.69 billion, a price-to-earnings ratio of 16.99 and a beta of 1.14. The company has a debt-to-equity ratio of 2.19, a current ratio of 0.76 and a quick ratio of 0.76.
Rithm Capital (NYSE:RITM - Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The real estate investment trust reported $0.60 earnings per share for the quarter, beating analysts' consensus estimates of $0.50 by $0.10. Rithm Capital had a net margin of 9.20% and a return on equity of 19.86%. Sell-side analysts anticipate that Rithm Capital Corp. will post 2.26 EPS for the current fiscal year.
Rithm Capital Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Thursday, July 2nd were paid a $0.25 dividend. The ex-dividend date was Thursday, July 2nd. This represents a $1.00 annualized dividend and a yield of 9.8%. Rithm Capital's payout ratio is presently 166.67%.
Wall Street Analysts Forecast Growth
RITM has been the topic of several recent analyst reports. UBS Group reduced their target price on shares of Rithm Capital from $14.50 to $14.00 and set a "buy" rating on the stock in a research note on Friday. Compass Point began coverage on shares of Rithm Capital in a research note on Monday, June 8th. They set a "buy" rating and a $14.00 price target for the company. Wedbush cut their price target on shares of Rithm Capital from $14.00 to $12.50 and set an "outperform" rating on the stock in a report on Friday, May 1st. Citizens Jmp increased their price objective on shares of Rithm Capital from $12.50 to $13.50 and gave the stock a "market outperform" rating in a research report on Wednesday, May 20th. Finally, Royal Bank Of Canada decreased 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. Ten investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $13.15.
Check Out Our Latest Stock Analysis on Rithm Capital
Institutional Trading of Rithm Capital
Hedge funds and other institutional investors have recently bought and sold shares of the business. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Rithm Capital during the second quarter worth $22,001,000. California State Teachers Retirement System grew its holdings in shares of Rithm Capital by 882.5% in the second quarter. California State Teachers Retirement System now owns 6,104,383 shares of the real estate investment trust's stock worth $57,320,000 after purchasing an additional 5,483,068 shares during the last quarter. Ameritas Advisory Services LLC bought a new position in shares of Rithm Capital in the second quarter worth about $43,000. TD Waterhouse Canada Inc. grew its holdings in shares of Rithm Capital by 3,496.8% in the second quarter. TD Waterhouse Canada Inc. now owns 55,750 shares of the real estate investment trust's stock worth $521,000 after purchasing an additional 54,200 shares during the last quarter. Finally, NEOS Investment Management LLC increased its stake in Rithm Capital by 16.4% in the 2nd quarter. NEOS Investment Management LLC now owns 114,591 shares of the real estate investment trust's stock worth $1,076,000 after buying an additional 16,154 shares during the period. Hedge funds and other institutional investors own 44.92% of the company's stock.
About Rithm Capital
(
Get Free Report)
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.
Further Reading
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