Rithm Capital Corp. to Issue Quarterly Dividend of $0.25 (NYSE:RITM)

Rithm Capital Corp. (NYSE:RITM) announced a quarterly dividend on Tuesday, March 24th. Investors of record on Monday, April 6th will be given a dividend of 0.25 per share by the real estate investment trust on Thursday, April 30th. This represents a c) dividend on an annualized basis and a dividend yield of 11.0%. The ex-dividend date is Monday, April 6th.

Rithm Capital has raised its dividend by an average of 0.1%annually over the last three years. Rithm Capital has a dividend payout ratio of 46.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Rithm Capital to earn $2.06 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 48.5%.

Rithm Capital Trading Up 0.7%

RITM opened at $9.13 on Wednesday. The firm has a 50 day simple moving average of $10.49 and a 200 day simple moving average of $10.99. Rithm Capital has a fifty-two week low of $8.43 and a fifty-two week high of $12.74. The company has a market cap of $5.07 billion, a price-to-earnings ratio of 8.77 and a beta of 1.21. The company has a debt-to-equity ratio of 2.20, a current ratio of 0.58 and a quick ratio of 0.58.

Rithm Capital (NYSE:RITM) last announced its quarterly earnings data on Tuesday, February 3rd. The real estate investment trust reported $0.74 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $1.24 billion. On average, sell-side analysts anticipate that Rithm Capital will post 1.93 earnings per share for the current year.

Hedge Funds Weigh In On Rithm Capital

Several institutional investors and hedge funds have recently made changes to their positions in the company. Curi Capital LLC lifted its holdings in Rithm Capital by 0.7% during the second quarter. Curi Capital LLC now owns 120,262 shares of the real estate investment trust’s stock worth $1,358,000 after acquiring an additional 829 shares in the last quarter. Geneos Wealth Management Inc. increased its holdings in shares of Rithm Capital by 14.3% in the first quarter. Geneos Wealth Management Inc. now owns 7,031 shares of the real estate investment trust’s stock worth $81,000 after acquiring an additional 881 shares in the last quarter. City Holding Co. raised its position in shares of Rithm Capital by 35.1% during the fourth quarter. City Holding Co. now owns 3,850 shares of the real estate investment trust’s stock worth $42,000 after purchasing an additional 1,000 shares during the period. Westbourne Investment Advisors Inc. raised its position in shares of Rithm Capital by 1.8% during the fourth quarter. Westbourne Investment Advisors Inc. now owns 55,500 shares of the real estate investment trust’s stock worth $605,000 after purchasing an additional 1,000 shares during the period. Finally, Fort Sheridan Advisors LLC lifted its holdings in shares of Rithm Capital by 0.3% during the 4th quarter. Fort Sheridan Advisors LLC now owns 367,164 shares of the real estate investment trust’s stock valued at $4,002,000 after purchasing an additional 1,000 shares in the last quarter. Institutional investors and hedge funds own 44.92% of the company’s stock.

About Rithm Capital

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.