Rithm Capital Corp. $RITM Shares Bought by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd boosted its stake in Rithm Capital Corp. (NYSE:RITM) by 459.2% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 239,007 shares of the real estate investment trust’s stock after acquiring an additional 196,265 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in Rithm Capital were worth $2,722,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Cullen Frost Bankers Inc. purchased a new stake in Rithm Capital during the 2nd quarter worth $30,000. Mather Group LLC. purchased a new stake in Rithm Capital during the 3rd quarter worth approximately $33,000. Optimum Investment Advisors raised its position in shares of Rithm Capital by 200.0% in the 3rd quarter. Optimum Investment Advisors now owns 3,000 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 2,000 shares in the last quarter. Ameritas Advisory Services LLC purchased a new position in shares of Rithm Capital during the 2nd quarter valued at approximately $43,000. Finally, Quent Capital LLC acquired a new stake in shares of Rithm Capital during the third quarter worth approximately $58,000. 44.92% of the stock is owned by institutional investors and hedge funds.

Rithm Capital Stock Up 0.5%

RITM stock opened at $12.13 on Wednesday. The stock has a market cap of $6.72 billion, a PE ratio of 8.36 and a beta of 1.21. The firm’s 50-day simple moving average is $11.29 and its 200 day simple moving average is $11.57. Rithm Capital Corp. has a fifty-two week low of $9.13 and a fifty-two week high of $12.74. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 1.52.

Rithm Capital (NYSE:RITM) last posted its earnings results on Thursday, October 30th. The real estate investment trust reported $0.54 EPS for the quarter, hitting the consensus estimate of $0.54. The firm had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.07 billion. Rithm Capital had a net margin of 17.08% and a return on equity of 18.82%. As a group, sell-side analysts predict that Rithm Capital Corp. will post 1.93 EPS for the current year.

Rithm Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Wednesday, December 31st will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $1.00 annualized dividend and a yield of 8.2%. Rithm Capital’s payout ratio is presently 68.97%.

Wall Street Analysts Forecast Growth

RITM has been the subject of several recent analyst reports. Jones Trading reissued a “buy” rating and set a $13.50 price objective on shares of Rithm Capital in a report on Thursday, October 30th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of Rithm Capital in a report on Thursday, December 18th. UBS Group started coverage on shares of Rithm Capital in a research note on Thursday, January 8th. They set a “buy” rating and a $16.00 target price for the company. Weiss Ratings restated a “hold (c+)” rating on shares of Rithm Capital in a research report on Monday, December 29th. Finally, Wedbush initiated coverage on shares of Rithm Capital in a research report on Monday, December 15th. They set an “outperform” rating and a $14.00 price objective for the company. Seven research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat, Rithm Capital presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.71.

Insiders Place Their Bets

In related news, CEO Michael Nierenberg sold 301,548 shares of Rithm Capital stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $11.00, for a total transaction of $3,317,028.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider David Zeiden sold 19,285 shares of the stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $11.11, for a total transaction of $214,256.35. The disclosure for this sale is available in the SEC filing. Insiders own 0.44% of the company’s stock.

Rithm Capital 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.