QRG Capital Management Inc. Sells 150,919 Shares of Rithm Capital Corp. $RITM

QRG Capital Management Inc. cut its holdings in Rithm Capital Corp. (NYSE:RITM) by 63.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 86,302 shares of the real estate investment trust’s stock after selling 150,919 shares during the period. QRG Capital Management Inc.’s holdings in Rithm Capital were worth $983,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of RITM. Norges Bank purchased a new stake in shares of Rithm Capital in the 2nd quarter worth $72,762,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Rithm Capital in the second quarter worth about $24,938,000. State Street Corp raised its stake in shares of Rithm Capital by 11.5% in the second quarter. State Street Corp now owns 10,178,853 shares of the real estate investment trust’s stock worth $117,426,000 after buying an additional 1,052,130 shares during the period. One Fin Capital Management LP bought a new position in shares of Rithm Capital in the second quarter worth about $11,854,000. Finally, Qube Research & Technologies Ltd lifted its position in shares of Rithm Capital by 31.5% during the 2nd quarter. Qube Research & Technologies Ltd now owns 4,366,657 shares of the real estate investment trust’s stock valued at $49,300,000 after buying an additional 1,045,018 shares in the last quarter. Hedge funds and other institutional investors own 44.92% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on RITM. Keefe, Bruyette & Woods reissued an “outperform” rating on shares of Rithm Capital in a report on Thursday, December 18th. Piper Sandler reissued an “overweight” rating and issued a $15.50 price objective on shares of Rithm Capital in a research note on Monday, December 22nd. Wedbush started 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 on the stock. Jones Trading reaffirmed a “buy” rating and issued a $13.50 target price on shares of Rithm Capital in a report on Thursday, October 30th. Finally, UBS Group began coverage on Rithm Capital in a research note on Thursday, January 8th. They issued a “buy” rating and a $16.00 price target for the company. Eight research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $14.44.

Rithm Capital Trading Down 1.7%

Shares of RITM stock opened at $11.56 on Wednesday. The stock’s 50-day moving average price is $11.20 and its 200-day moving average price is $11.56. Rithm Capital Corp. has a 12-month low of $9.13 and a 12-month high of $12.74. The stock has a market capitalization of $6.41 billion, a price-to-earnings ratio of 7.97 and a beta of 1.21. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 1.52.

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

Rithm Capital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Wednesday, December 31st will be given a $0.25 dividend. The ex-dividend date is Wednesday, December 31st. This represents a $1.00 annualized dividend and a yield of 8.6%. Rithm Capital’s dividend payout ratio (DPR) is currently 68.97%.

Insider Activity at Rithm Capital

In other Rithm Capital news, CEO Michael Nierenberg sold 301,548 shares of the company’s stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $11.00, for a total transaction of $3,317,028.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider David Zeiden sold 19,285 shares of Rithm Capital stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $11.11, for a total value 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 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.