Wellington Management Group LLP Boosts Stock Position in Rithm Capital Corp. $RITM

Wellington Management Group LLP grew its position in shares of Rithm Capital Corp. (NYSE:RITM) by 14.4% during the 2nd quarter, Holdings Channel.com reports. The firm owned 11,616,077 shares of the real estate investment trust’s stock after acquiring an additional 1,466,315 shares during the period. Wellington Management Group LLP’s holdings in Rithm Capital were worth $109,075,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Cetera Investment Advisers grew its position in Rithm Capital by 26.9% during the first quarter. Cetera Investment Advisers now owns 1,447,552 shares of the real estate investment trust’s stock valued at $13,723,000 after acquiring an additional 306,615 shares during the last quarter. Family Manage LLC raised its stake in shares of Rithm Capital by 62.1% during the first quarter. Family Manage LLC now owns 487,557 shares of the real estate investment trust’s stock worth $4,622,000 after acquiring an additional 186,816 shares in the last quarter. WINTON GROUP Ltd bought a new stake in shares of Rithm Capital in the 4th quarter worth approximately $2,007,000. Bank of New York Mellon Corp bought a new stake in shares of Rithm Capital in the 2nd quarter worth approximately $29,635,000. Finally, Independent Financial Group LLC purchased a new stake in shares of Rithm Capital in the 1st quarter valued at $1,061,000. 44.92% of the stock is owned by hedge funds and other institutional investors.

Rithm Capital Trading Down 1.1%

Shares of RITM opened at $9.92 on Wednesday. The stock has a market capitalization of $5.54 billion, a P/E ratio of 16.53 and a beta of 1.12. Rithm Capital Corp. has a twelve month low of $8.43 and a twelve month high of $12.74. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 2.19. The firm has a fifty day simple moving average of $9.69 and a two-hundred day simple moving average of $9.65.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $0.50 by $0.10. Rithm Capital had a net margin of 9.20% and a return on equity of 19.86%. On average, research analysts anticipate that Rithm Capital Corp. will post 2.26 EPS for the current year.

Rithm Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 31st. Investors 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 was Thursday, July 2nd. Rithm Capital’s payout ratio is currently 166.67%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on RITM. Citizens Jmp lifted their target price on shares of Rithm Capital from $12.50 to $13.50 and gave the stock a “market outperform” rating in a research report on Wednesday, May 20th. Piper Sandler reduced their price objective on Rithm Capital from $14.00 to $12.50 and set an “overweight” rating on the stock in a research note on Thursday, July 2nd. Weiss Ratings upgraded Rithm Capital from a “sell (d+)” rating to a “hold (c-)” rating in a report on Tuesday, August 25th. UBS Group dropped their target price on Rithm Capital from $14.50 to $14.00 and set a “buy” rating for the company in a report on Friday, August 21st. Finally, Compass Point began coverage on Rithm Capital in a research report on Monday, June 8th. They set a “buy” rating and a $14.00 price target on the stock. Ten research 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $13.15.

Insider Buying and Selling

In other Rithm Capital news, Director Peggy Hwan Hebard sold 14,520 shares of the stock in a transaction that occurred on Thursday, August 20th. The stock was sold at an average price of $10.18, for a total value of $147,813.60. Following the completion of the sale, the director owned 82,259 shares in the company, valued at approximately $837,396.62. This trade represents a 15.00% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.57% of the stock is owned by insiders.

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.