Corient Private Wealth LLC Purchases 119,554 Shares of Rithm Capital Corp. $RITM

Corient Private Wealth LLC grew its position in shares of Rithm Capital Corp. (NYSE:RITM) by 85.6% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 259,225 shares of the real estate investment trust’s stock after acquiring an additional 119,554 shares during the quarter. Corient Private Wealth LLC’s holdings in Rithm Capital were worth $2,927,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. State Street Corp boosted its holdings in Rithm Capital by 11.5% during the second quarter. State Street Corp now owns 10,178,853 shares of the real estate investment trust’s stock worth $117,426,000 after purchasing an additional 1,052,130 shares during the last quarter. Kingstone Capital Partners Texas LLC bought a new stake in Rithm Capital during the 2nd quarter worth about $96,027,000. Geode Capital Management LLC boosted its stake in shares of Rithm Capital by 1.1% during the 2nd quarter. Geode Capital Management LLC now owns 8,991,146 shares of the real estate investment trust’s stock worth $101,528,000 after buying an additional 98,307 shares during the last quarter. Norges Bank bought a new position in shares of Rithm Capital in the 2nd quarter valued at about $72,762,000. Finally, Qube Research & Technologies Ltd increased its position in shares of Rithm Capital by 31.5% in the second quarter. Qube Research & Technologies Ltd now owns 4,366,657 shares of the real estate investment trust’s stock valued at $49,300,000 after acquiring an additional 1,045,018 shares during the last quarter. 44.92% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Rithm Capital news, insider David Zeiden sold 19,285 shares of the stock in a transaction on Friday, November 14th. The stock was sold at an average price of $11.11, for a total transaction of $214,256.35. The transaction 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 on Wednesday, November 5th. The stock was sold at an average price of $11.00, for a total value of $3,317,028.00. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.44% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on RITM. Weiss Ratings reissued a “hold (c+)” rating on shares of Rithm Capital in a research report on Monday, December 15th. BTIG Research reissued a “buy” rating and issued a $16.00 price objective on shares of Rithm Capital in a report on Wednesday, September 17th. Wedbush started coverage on shares of Rithm Capital in a research note on Monday, December 15th. They issued an “outperform” rating and a $14.00 target price for the company. UBS Group upped their price target on shares of Rithm Capital from $14.00 to $16.00 and gave the stock a “buy” rating in a research report on Wednesday, September 3rd. Finally, Jones Trading reissued a “buy” rating and issued a $13.50 price objective on shares of Rithm Capital in a research report on Thursday, October 30th. One equities 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 data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $14.25.

Rithm Capital Price Performance

Shares of RITM opened at $11.19 on Monday. The firm has a market capitalization of $6.20 billion, a PE ratio of 7.72 and a beta of 1.22. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.45 and a quick ratio of 0.45. The company’s 50-day moving average is $11.07 and its 200-day moving average is $11.58. Rithm Capital Corp. has a fifty-two week low of $9.13 and a fifty-two week high of $12.74.

Rithm Capital (NYSE:RITM) last released its quarterly earnings results on Thursday, October 30th. The real estate investment trust reported $0.54 earnings per share for the quarter, meeting the consensus estimate of $0.54. The firm had revenue of $1.11 billion for the quarter, compared to analysts’ expectations of $1.07 billion. Rithm Capital had a net margin of 17.08% and a return on equity of 18.82%. Equities analysts forecast that Rithm Capital Corp. will post 1.93 EPS for the current year.

Rithm Capital Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Wednesday, December 31st will be paid a $0.25 dividend. The ex-dividend date is Wednesday, December 31st. This represents a $1.00 annualized dividend and a yield of 8.9%. Rithm Capital’s payout ratio is 68.97%.

Rithm Capital Company 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.