Rithm Capital Corp. $RITM Shares Bought by Alden Global Capital LLC

Alden Global Capital LLC increased its stake in Rithm Capital Corp. (NYSE:RITM) by 47.2% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 288,376 shares of the real estate investment trust’s stock after acquiring an additional 92,500 shares during the quarter. Rithm Capital makes up 2.0% of Alden Global Capital LLC’s holdings, making the stock its 13th largest holding. Alden Global Capital LLC owned about 0.05% of Rithm Capital worth $3,256,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Kingstone Capital Partners Texas LLC acquired a new position in shares of Rithm Capital in the 2nd quarter valued at $96,027,000. Norges Bank purchased a new stake in Rithm Capital during the second quarter valued at about $72,762,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Rithm Capital in the second quarter worth about $24,938,000. Wellington Management Group LLP boosted its holdings in shares of Rithm Capital by 36.3% in the first quarter. Wellington Management Group LLP now owns 4,907,737 shares of the real estate investment trust’s stock worth $56,194,000 after buying an additional 1,307,276 shares during the period. Finally, Nuveen LLC purchased a new position in shares of Rithm Capital in the first quarter worth approximately $14,086,000. 44.92% of the stock is owned by institutional investors and hedge funds.

Rithm Capital Price Performance

Shares of NYSE:RITM opened at $11.13 on Friday. The firm 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 1 year low of $9.13 and a 1 year high of $12.74. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 1.52. The business has a fifty day simple moving average of $11.04 and a 200 day simple moving average of $11.57.

Rithm Capital (NYSE:RITM) last issued its earnings results on Thursday, October 30th. The real estate investment trust reported $0.54 earnings per share for the quarter, hitting the consensus estimate of $0.54. The company had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.07 billion. Rithm Capital had a return on equity of 18.82% and a net margin of 17.08%. 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 Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Wednesday, October 1st were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 9.0%. The ex-dividend date of this dividend was Wednesday, October 1st. Rithm Capital’s dividend payout ratio (DPR) is presently 68.97%.

Analyst Ratings Changes

Several brokerages recently commented on RITM. UBS Group upped their price target on shares of Rithm Capital from $14.00 to $16.00 and gave the company a “buy” rating in a research report on Wednesday, September 3rd. Jones Trading reissued a “buy” rating and set a $13.50 target price on shares of Rithm Capital in a research note on Thursday, October 30th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Rithm Capital in a research report on Monday. Finally, BTIG Research reiterated a “buy” rating and set a $16.00 price target on shares of Rithm Capital in a report on Wednesday, September 17th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Rithm Capital currently has an average rating of “Buy” and an average price target of $14.25.

Insider Buying and Selling

In other Rithm Capital news, CEO Michael Nierenberg sold 301,548 shares of Rithm Capital stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $11.00, for a total value of $3,317,028.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David Zeiden sold 19,285 shares of the business’s stock in a transaction that occurred on Friday, November 14th. The stock was sold at an average price of $11.11, for a total transaction of $214,256.35. Additional details regarding this sale are available in the official SEC disclosure. 0.44% of the stock is owned by insiders.

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.