Rithm Capital Corp. $RITM Shares Bought by FJ Capital Management LLC

FJ Capital Management LLC grew its stake in Rithm Capital Corp. (NYSE:RITM) by 45.1% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 246,278 shares of the real estate investment trust’s stock after acquiring an additional 76,559 shares during the quarter. FJ Capital Management LLC’s holdings in Rithm Capital were worth $2,780,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Quantinno Capital Management LP grew its holdings in shares of Rithm Capital by 55.2% in the second quarter. Quantinno Capital Management LP now owns 109,168 shares of the real estate investment trust’s stock valued at $1,233,000 after purchasing an additional 38,849 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Rithm Capital by 8.6% in the 2nd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,803,060 shares of the real estate investment trust’s stock valued at $20,357,000 after purchasing an additional 142,854 shares during the last quarter. Diversify Advisory Services LLC boosted its holdings in Rithm Capital by 195.1% in the 2nd quarter. Diversify Advisory Services LLC now owns 41,921 shares of the real estate investment trust’s stock valued at $516,000 after purchasing an additional 27,714 shares during the last quarter. Main Street Financial Solutions LLC purchased a new stake in shares of Rithm Capital in the 2nd quarter valued at approximately $303,000. Finally, Treasurer of the State of North Carolina increased its holdings in shares of Rithm Capital by 4.2% during the 2nd quarter. Treasurer of the State of North Carolina now owns 247,133 shares of the real estate investment trust’s stock worth $2,790,000 after buying an additional 9,880 shares during the last quarter. Hedge funds and other institutional investors own 44.92% of the company’s stock.

Insider Activity

In other Rithm Capital news, CEO Michael Nierenberg sold 301,548 shares of the stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $11.00, for a total transaction of $3,317,028.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider David Zeiden sold 19,285 shares of the firm’s stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $11.11, for a total transaction of $214,256.35. Additional details regarding this sale are available in the official SEC disclosure. 0.44% of the stock is currently owned by corporate insiders.

Rithm Capital Stock Down 0.7%

Shares of NYSE RITM opened at $11.13 on Friday. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 1.52. The business’s 50 day moving average is $11.04 and its two-hundred day moving average is $11.57. Rithm Capital Corp. has a 52-week low of $9.13 and a 52-week high of $12.74. The firm has a market cap of $6.17 billion, a price-to-earnings ratio of 7.68 and a beta of 1.22.

Rithm Capital (NYSE:RITM) last issued its quarterly earnings data on Thursday, October 30th. The real estate investment trust reported $0.54 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.54. The business had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.07 billion. Rithm Capital had a return on equity of 18.82% and a net margin of 17.08%. Research analysts predict that Rithm Capital Corp. will post 1.93 EPS for the current year.

Rithm Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Wednesday, October 1st were paid a dividend of $0.25 per share. The ex-dividend date was Wednesday, October 1st. This represents a $1.00 dividend on an annualized basis and a yield of 9.0%. Rithm Capital’s dividend payout ratio is 68.97%.

Analysts Set New Price Targets

RITM has been the topic of several analyst reports. Jones Trading reaffirmed a “buy” rating and set a $13.50 price target on shares of Rithm Capital in a research report on Thursday, October 30th. Weiss Ratings reissued a “hold (c+)” rating on shares of Rithm Capital in a research note on Monday. BTIG Research reaffirmed a “buy” rating and issued a $16.00 price target on shares of Rithm Capital in a research note on Wednesday, September 17th. Finally, UBS Group increased their price target on Rithm Capital from $14.00 to $16.00 and gave the stock a “buy” rating in a report on Wednesday, September 3rd. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $14.25.

About Rithm Capital

Rithm Capital Corp. operates as an asset manager focused on real estate, credit, and financial services. It operates through Origination and Servicing, Investment Portfolio, Mortgage Loans Receivable, and Asset Management segments. Its investment portfolio primarily comprises of mortgage servicing rights (MSR), and MSR financing receivables, title, appraisal and property preservation, excess MSRs, and services advance investments; real estate securities, call rights, SFR properties, and residential mortgage loans; consumer and business purpose loans; and asset management related investments.