Key Points
- CFO Nicola Santoro, Jr. sold 100,000 Rithm Capital shares at an average price of $9.51, worth $951,000. The sale reduced his direct holdings by 55.16% to 81,281 shares.
- Rithm reported quarterly EPS of $0.55, beating the $0.50 consensus, and revenue of $1.76 billion, above expectations of $1.47 billion.
- The company’s quarterly dividend is $0.25 per share, equivalent to a 10.6% annualized yield; its payout ratio is 158.73%. Analysts’ average rating is “Moderate Buy,” with a $12.80 consensus price target.
Rithm Capital Corp. (NYSE:RITM - Get Free Report) CFO Nicola Santoro, Jr. sold 100,000 shares of Rithm Capital stock in a transaction on Wednesday, November 4th. The stock was sold at an average price of $9.51, for a total transaction of $951,000.00. Following the sale, the chief financial officer directly owned 81,281 shares in the company, valued at approximately $772,982.31. This trade represents a 55.16% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Rithm Capital Price Performance
Rithm Capital stock opened at $9.45 on Friday. Rithm Capital Corp. has a 52-week low of $8.31 and a 52-week high of $12.15. The firm has a market capitalization of $5.28 billion, a price-to-earnings ratio of 3.96, a PEG ratio of 0.58 and a beta of 1.16. The company has a fifty day simple moving average of $9.25 and a 200-day simple moving average of $9.68. The company has a quick ratio of 0.58, a current ratio of 0.55 and a debt-to-equity ratio of 2.12.
Rithm Capital (NYSE:RITM - Get Free Report) last issued its earnings results on Friday, October 23rd. The real estate investment trust reported $0.55 EPS for the quarter, beating analysts' consensus estimates of $0.50 by $0.05. The business had revenue of $1.76 billion during the quarter, compared to analysts' expectations of $1.47 billion. Rithm Capital had a net margin of 8.71% and a return on equity of 20.03%. On average, equities analysts anticipate that Rithm Capital Corp. will post 2.32 EPS for the current fiscal year.
Rithm Capital Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, October 30th. Investors of record on Thursday, October 1st were given a dividend of $0.25 per share. The ex-dividend date was Thursday, October 1st. This represents a $1.00 dividend on an annualized basis and a yield of 10.6%. Rithm Capital's payout ratio is presently 158.73%.
Institutional Trading of Rithm Capital
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Mather Group LLC. purchased a new position in shares of Rithm Capital during the 3rd quarter worth $29,000. Altshuler Shaham Ltd boosted its position in shares of Rithm Capital by 100.0% during the 1st quarter. Altshuler Shaham Ltd now owns 3,600 shares of the real estate investment trust's stock valued at $34,000 after acquiring an additional 1,800 shares during the last quarter. Bogart Wealth LLC grew its holdings in shares of Rithm Capital by 108.5% in the first quarter. Bogart Wealth LLC now owns 4,120 shares of the real estate investment trust's stock valued at $39,000 after purchasing an additional 2,144 shares during the period. Sound Income Strategies LLC purchased a new stake in shares of Rithm Capital in the first quarter valued at about $41,000. Finally, Kelly Lawrence W & Associates Inc. CA purchased a new stake in shares of Rithm Capital in the second quarter valued at about $42,000. 44.92% of the stock is owned by institutional investors and hedge funds.
Analyst Ratings Changes
A number of analysts have commented on the stock. UBS Group cut their price objective on shares of Rithm Capital from $14.50 to $14.00 and set a "buy" rating for the company in a report on Friday, August 21st. Wedbush began coverage on shares of Rithm Capital in a research note on Thursday, October 22nd. They issued an "outperform" rating and a $10.00 target price on the stock. Keefe, Bruyette & Woods boosted their target price on Rithm Capital from $12.50 to $13.00 and gave the stock an "outperform" rating in a report on Tuesday, October 27th. Wall Street Zen upgraded Rithm Capital from a "sell" rating to a "hold" rating in a research report on Saturday, August 1st. Finally, Weiss Ratings lowered Rithm Capital from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Friday, October 2nd. Ten 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, Rithm Capital presently has an average rating of "Moderate Buy" and a consensus target price of $12.80.
Read Our Latest Research Report on RITM
Rithm Capital Company Profile
(
Get Free Report)
Rithm Capital Corp. is a real estate investment trust and financial services company focused primarily on residential real estate and mortgage-related investments. Formerly known as New Residential Investment Corp., the company adopted the Rithm Capital name in 2022.
Through its operating businesses and investment platforms, Rithm participates in mortgage servicing, mortgage origination, residential mortgage loans, mortgage servicing rights and other housing-related assets. Its businesses include Newrez, a mortgage platform that provides home loan origination, servicing and related services, as well as other investments connected to residential real estate and private lending.
Rithm primarily serves the U.S.
Further Reading
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