Kendall Capital Management Purchases 59,315 Shares of Rithm Capital Corp. $RITM

Kendall Capital Management raised its position in shares of Rithm Capital Corp. (NYSE:RITM) by 69.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 144,775 shares of the real estate investment trust’s stock after buying an additional 59,315 shares during the quarter. Kendall Capital Management’s holdings in Rithm Capital were worth $1,578,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. AIA Group Ltd raised its stake in Rithm Capital by 86.9% during the third quarter. AIA Group Ltd now owns 326,436 shares of the real estate investment trust’s stock valued at $3,718,000 after purchasing an additional 151,733 shares in the last quarter. Waterfall Asset Management LLC lifted its position in Rithm Capital by 169.7% during the third quarter. Waterfall Asset Management LLC now owns 360,573 shares of the real estate investment trust’s stock valued at $4,115,000 after purchasing an additional 226,859 shares during the last quarter. Public Sector Pension Investment Board purchased a new position in shares of Rithm Capital in the 3rd quarter worth $1,519,000. Envestnet Asset Management Inc. increased its holdings in shares of Rithm Capital by 246.8% in the 3rd quarter. Envestnet Asset Management Inc. now owns 433,567 shares of the real estate investment trust’s stock worth $4,938,000 after buying an additional 308,555 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of Rithm Capital by 16.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,415,844 shares of the real estate investment trust’s stock worth $15,985,000 after buying an additional 201,720 shares during the last quarter. Institutional investors own 44.92% of the company’s stock.

Rithm Capital Trading Up 1.6%

Shares of RITM opened at $9.63 on Friday. The company’s fifty day simple moving average is $10.17 and its 200-day simple moving average is $10.86. The company has a market cap of $5.35 billion, a P/E ratio of 9.25 and a beta of 1.19. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 2.20. Rithm Capital Corp. has a twelve month low of $8.43 and a twelve month high of $12.74.

Rithm Capital (NYSE:RITM) last released its quarterly 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. Rithm Capital had a net margin of 15.55% and a return on equity of 19.74%. The firm had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.24 billion. As a group, analysts expect that Rithm Capital Corp. will post 1.93 EPS for the current year.

Rithm Capital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Monday, April 6th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, April 6th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 10.4%. Rithm Capital’s dividend payout ratio is currently 96.15%.

Wall Street Analyst Weigh In

RITM has been the subject of a number of analyst reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Rithm Capital in a report on Monday, December 29th. UBS Group set a $15.00 price objective on Rithm Capital in a research note on Friday, February 6th. Wall Street Zen upgraded Rithm Capital from a “hold” rating to a “buy” rating in a research report on Saturday, March 7th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of Rithm Capital in a research note on Thursday, December 18th. Finally, Piper Sandler dropped their target price on Rithm Capital from $15.00 to $14.00 and set an “overweight” rating for the company in a report on Thursday. Seven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Rithm Capital presently has a consensus rating of “Moderate Buy” and a consensus price target of $14.36.

Rithm Capital Company 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.