BlueCrest Capital Management Ltd Decreases Stake in Rithm Capital Corp. $RITM

BlueCrest Capital Management Ltd lessened its holdings in shares of Rithm Capital Corp. (NYSE:RITM) by 11.6% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,886,208 shares of the real estate investment trust’s stock after selling 248,453 shares during the quarter. Rithm Capital accounts for about 0.8% of BlueCrest Capital Management Ltd’s investment portfolio, making the stock its 15th largest holding. BlueCrest Capital Management Ltd owned approximately 0.36% of Rithm Capital worth $21,295,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. SouthState Corp purchased a new stake in Rithm Capital during the first quarter worth approximately $25,000. Cullen Frost Bankers Inc. acquired a new position in shares of Rithm Capital during the 2nd quarter valued at $30,000. Ameritas Advisory Services LLC purchased a new stake in Rithm Capital during the 2nd quarter worth $43,000. SVB Wealth LLC acquired a new stake in Rithm Capital in the 1st quarter valued at $57,000. Finally, GAMMA Investing LLC raised its position in Rithm Capital by 19.1% in the second quarter. GAMMA Investing LLC now owns 5,528 shares of the real estate investment trust’s stock valued at $62,000 after purchasing an additional 887 shares during the period. 44.92% of the stock is owned by institutional investors and hedge funds.

Rithm Capital Trading Down 0.1%

NYSE:RITM opened at $11.13 on Friday. The stock has a market cap of $6.17 billion, a price-to-earnings ratio of 7.67 and a beta of 1.22. Rithm Capital Corp. has a one year low of $9.13 and a one year high of $12.74. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.45 and a current ratio of 0.45. The business’s 50-day simple moving average is $11.04 and its 200 day simple moving average is $11.57.

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

Rithm Capital Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Wednesday, October 1st were issued a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, October 1st. This represents a $1.00 annualized dividend and a yield of 9.0%. Rithm Capital’s dividend payout ratio is currently 68.97%.

Insiders Place Their Bets

In other news, insider David Zeiden sold 19,285 shares of the stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $11.11, for a total transaction of $214,256.35. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Michael Nierenberg sold 301,548 shares of Rithm Capital stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $11.00, for a total value of $3,317,028.00. The SEC filing for this sale provides additional information. Corporate insiders own 0.44% of the company’s stock.

Analysts Set New Price Targets

RITM has been the subject of several analyst reports. UBS Group upped their target price on Rithm Capital from $14.00 to $16.00 and gave the stock a “buy” rating in a research report on Wednesday, September 3rd. BTIG Research reissued a “buy” rating and set a $16.00 price target on shares of Rithm Capital in a research report on Wednesday, September 17th. Weiss Ratings restated a “hold (c+)” rating on shares of Rithm Capital in a report on Monday. Finally, Jones Trading reaffirmed a “buy” rating and issued a $13.50 price objective on shares of Rithm Capital in a research report on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $14.25.

Rithm Capital Profile

Rithm Capital Corp. operates as an asset manager focused on real estate, credit, and financial services. It operates through Origination and Servicing, Investment Portfolio, Mortgage Loans Receivable, and Asset Management segments. Its investment portfolio primarily comprises of mortgage servicing rights (MSR), and MSR financing receivables, title, appraisal and property preservation, excess MSRs, and services advance investments; real estate securities, call rights, SFR properties, and residential mortgage loans; consumer and business purpose loans; and asset management related investments.