Rithm Capital Corp. $RITM Shares Purchased by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans grew its position in shares of Rithm Capital Corp. (NYSE:RITM) by 108.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 188,633 shares of the real estate investment trust’s stock after buying an additional 98,269 shares during the period. Thrivent Financial for Lutherans’ holdings in Rithm Capital were worth $2,129,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Cullen Frost Bankers Inc. acquired a new stake in shares of Rithm Capital during the 2nd quarter valued at approximately $30,000. Ameritas Advisory Services LLC bought a new stake in Rithm Capital during the second quarter valued at $43,000. SVB Wealth LLC acquired a new stake in shares of Rithm Capital during the first quarter worth $57,000. GAMMA Investing LLC raised its holdings in shares of Rithm Capital by 19.1% during the second quarter. GAMMA Investing LLC now owns 5,528 shares of the real estate investment trust’s stock worth $62,000 after purchasing an additional 887 shares during the period. Finally, EverSource Wealth Advisors LLC lifted its position in shares of Rithm Capital by 26.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 6,650 shares of the real estate investment trust’s stock worth $75,000 after buying an additional 1,387 shares during the last quarter. 44.92% of the stock is currently owned by institutional investors.

Insider Transactions at Rithm Capital

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

Rithm Capital Stock Down 0.9%

RITM opened at $11.05 on Wednesday. Rithm Capital Corp. has a 12 month low of $9.13 and a 12 month high of $12.74. 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 stock has a market cap of $6.12 billion, a P/E ratio of 7.62 and a beta of 1.22. The stock’s 50 day moving average price is $11.08 and its 200 day moving average price is $11.57.

Rithm Capital (NYSE:RITM) last announced its quarterly earnings results on Thursday, October 30th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.54. The company had revenue of $1.11 billion during 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, research analysts predict that Rithm Capital Corp. will post 1.93 earnings per share for the current year.

Rithm Capital Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Shareholders of record on Wednesday, December 31st will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, December 31st. This represents a $1.00 annualized dividend and a yield of 9.1%. Rithm Capital’s dividend payout ratio (DPR) is presently 68.97%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on RITM shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Rithm Capital in a research report on Monday. BTIG Research reaffirmed a “buy” rating and set a $16.00 target price on shares of Rithm Capital in a report on Wednesday, September 17th. Piper Sandler reissued an “overweight” rating and issued a $15.50 price target on shares of Rithm Capital in a report on Monday. UBS Group boosted their price objective on Rithm Capital from $14.00 to $16.00 and gave the company a “buy” rating in a research report on Wednesday, September 3rd. Finally, Wedbush assumed coverage on Rithm Capital in a research report on Monday, December 15th. They issued an “outperform” rating and a $14.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $14.44.

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.