Sei Investments Co. Purchases 188,598 Shares of Rithm Capital Corp. $RITM

Sei Investments Co. boosted its position in Rithm Capital Corp. (NYSE:RITM) by 19.7% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 1,144,597 shares of the real estate investment trust’s stock after purchasing an additional 188,598 shares during the period. Sei Investments Co.’s holdings in Rithm Capital were worth $10,851,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of the company. CoreCap Advisors LLC grew its holdings in Rithm Capital by 99.2% during the 4th quarter. CoreCap Advisors LLC now owns 2,295 shares of the real estate investment trust’s stock worth $25,000 after acquiring an additional 1,143 shares during the period. Los Angeles Capital Management LLC acquired a new position in shares of Rithm Capital in the 4th quarter valued at about $26,000. Garton & Associates Financial Advisors LLC bought a new stake in shares of Rithm Capital during the 4th quarter valued at about $31,000. FNY Investment Advisers LLC bought a new stake in shares of Rithm Capital during the 4th quarter valued at about $31,000. Finally, Torren Management LLC acquired a new stake in Rithm Capital during the fourth quarter worth approximately $35,000. Institutional investors own 44.92% of the company’s stock.

Insider Buying and Selling at Rithm Capital

In related news, Director David Saltzman sold 80,922 shares of the business’s stock in a transaction dated Wednesday, May 20th. The shares were sold at an average price of $9.25, for a total transaction of $748,528.50. Following the transaction, the director directly owned 44,248 shares in the company, valued at approximately $409,294. The trade was a 64.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.57% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on RITM shares. Citizens Jmp lifted their price objective on shares of Rithm Capital from $12.50 to $13.50 and gave the company a “market outperform” rating in a research note on Wednesday, May 20th. Capital One Financial set a $12.50 target price on Rithm Capital in a research note on Thursday, April 9th. BTIG Research decreased their target price on Rithm Capital from $16.00 to $13.00 and set a “buy” rating for the company in a research report on Tuesday, June 16th. Royal Bank Of Canada dropped their price target on Rithm Capital from $14.00 to $13.00 and set an “outperform” rating on the stock in a research note on Friday, May 1st. Finally, Weiss Ratings upgraded Rithm Capital from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday. Ten research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $13.20.

Rithm Capital Stock Performance

Shares of RITM stock opened at $9.88 on Friday. The company has a current ratio of 0.90, a quick ratio of 1.28 and a debt-to-equity ratio of 2.19. The firm has a fifty day simple moving average of $9.27 and a two-hundred day simple moving average of $9.84. Rithm Capital Corp. has a 12 month low of $8.43 and a 12 month high of $12.74. The firm has a market capitalization of $5.52 billion, a PE ratio of 16.47 and a beta of 1.14.

Rithm Capital (NYSE:RITM) last released its quarterly earnings data on Tuesday, July 28th. The real estate investment trust reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.10. The firm had revenue of $1.28 billion for the quarter, compared to analyst estimates of $1.43 billion. Rithm Capital had a net margin of 9.20% and a return on equity of 19.86%. Analysts forecast that Rithm Capital Corp. will post 2.22 EPS for the current fiscal year.

Rithm Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Thursday, July 2nd were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 10.1%. The ex-dividend date of this dividend was Thursday, July 2nd. Rithm Capital’s payout ratio is currently 166.67%.

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.