Magnetar Financial LLC Buys 193,167 Shares of Rithm Capital Corp. $RITM

Magnetar Financial LLC lifted its position in Rithm Capital Corp. (NYSE:RITM) by 188.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 295,499 shares of the real estate investment trust’s stock after purchasing an additional 193,167 shares during the period. Magnetar Financial LLC’s holdings in Rithm Capital were worth $3,366,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of RITM. Bessemer Group Inc. raised its position in Rithm Capital by 658.9% during the 3rd quarter. Bessemer Group Inc. now owns 2,656 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 2,306 shares in the last quarter. Atlantic Union Bankshares Corp bought a new position in shares of Rithm Capital during the 3rd quarter worth $31,000. Mather Group LLC. purchased a new position in shares of Rithm Capital during the third quarter valued at $33,000. Optimum Investment Advisors raised its holdings in shares of Rithm Capital by 200.0% in the third quarter. Optimum Investment Advisors now owns 3,000 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 2,000 shares in the last quarter. Finally, Valley Wealth Managers Inc. bought a new stake in shares of Rithm Capital in the third quarter valued at about $46,000. Institutional investors own 44.92% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on RITM. UBS Group set a $15.00 target price on shares of Rithm Capital in a report on Friday, February 6th. Keefe, Bruyette & Woods restated an “outperform” rating on shares of Rithm Capital in a report on Thursday, December 18th. Wedbush initiated coverage on shares of Rithm Capital in a research report on Monday, December 15th. They issued an “outperform” rating and a $14.00 price target for the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of Rithm Capital in a research note on Monday, December 29th. Finally, Piper Sandler reissued an “overweight” rating and set a $15.00 price objective (down from $15.50) on shares of Rithm Capital in a report on Wednesday, February 4th. Seven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, Rithm Capital currently has a consensus rating of “Moderate Buy” and a consensus price target of $14.50.

Rithm Capital Price Performance

Shares of RITM stock opened at $9.86 on Thursday. The stock’s 50-day moving average is $10.85 and its 200 day moving average is $11.20. Rithm Capital Corp. has a 1-year low of $9.13 and a 1-year high of $12.74. The company has a debt-to-equity ratio of 2.20, a current ratio of 0.58 and a quick ratio of 0.58. The company has a market cap of $5.48 billion, a P/E ratio of 9.48 and a beta of 1.21.

Rithm Capital (NYSE:RITM) last announced its earnings results on Tuesday, February 3rd. The real estate investment trust reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.19. The business had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.24 billion. Rithm Capital had a net margin of 15.55% and a return on equity of 19.74%. Research analysts predict that Rithm Capital Corp. will post 1.93 earnings per share for the current fiscal year.

Rithm Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 30th. Investors of record on Wednesday, December 31st were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 10.1%. The ex-dividend date was Wednesday, December 31st. Rithm Capital’s payout ratio is 96.15%.

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.