Columbus Macro LLC Increases Stock Position in Rithm Capital Corp. $RITM

Columbus Macro LLC boosted its holdings in Rithm Capital Corp. (NYSE:RITM) by 130.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 713,165 shares of the real estate investment trust’s stock after acquiring an additional 403,188 shares during the quarter. Columbus Macro LLC owned 0.13% of Rithm Capital worth $7,773,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Norges Bank bought a new position in shares of Rithm Capital during the second quarter valued at $72,762,000. Qube Research & Technologies Ltd increased its holdings in Rithm Capital by 80.7% in the 3rd quarter. Qube Research & Technologies Ltd now owns 7,890,987 shares of the real estate investment trust’s stock worth $89,878,000 after buying an additional 3,524,330 shares in the last quarter. UBS Group AG raised its position in Rithm Capital by 127.9% in the 3rd quarter. UBS Group AG now owns 3,718,822 shares of the real estate investment trust’s stock worth $42,357,000 after buying an additional 2,087,282 shares during the last quarter. Balyasny Asset Management L.P. lifted its stake in Rithm Capital by 52.1% during the 3rd quarter. Balyasny Asset Management L.P. now owns 5,939,093 shares of the real estate investment trust’s stock valued at $67,646,000 after acquiring an additional 2,033,973 shares during the period. Finally, Meteora Capital LLC bought a new position in Rithm Capital during the 3rd quarter valued at about $19,441,000. Institutional investors own 44.92% of the company’s stock.

Rithm Capital Trading Up 0.1%

NYSE:RITM opened at $9.15 on Monday. Rithm Capital Corp. has a one year low of $8.43 and a one year high of $12.74. The business has a fifty day moving average price of $10.36 and a 200-day moving average price of $10.92. The firm has a market capitalization of $5.08 billion, a price-to-earnings ratio of 8.79 and a beta of 1.21. The company has a debt-to-equity ratio of 2.20, a current ratio of 0.58 and a quick ratio of 0.58.

Rithm Capital (NYSE:RITM) last released its earnings results on Tuesday, February 3rd. The real estate investment trust reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.55 by $0.19. The company had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.24 billion. Rithm Capital had a return on equity of 19.74% and a net margin of 15.55%. Sell-side analysts forecast that Rithm Capital Corp. will post 1.93 EPS for the current year.

Rithm Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Investors of record on Monday, April 6th will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, April 6th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 10.9%. Rithm Capital’s payout ratio is 96.15%.

Analysts Set New Price Targets

RITM has been the subject of a number of research analyst reports. Wall Street Zen upgraded shares of Rithm Capital from a “hold” rating to a “buy” rating in a research note on Saturday, March 7th. Piper Sandler restated an “overweight” rating and set a $15.00 price objective (down from $15.50) on shares of Rithm Capital in a research report on Wednesday, February 4th. UBS Group set a $15.00 target price on shares of Rithm Capital in a report on Friday, February 6th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of Rithm Capital in a research report on Thursday, December 18th. Finally, Wedbush assumed coverage on shares of Rithm Capital in a research note on Monday, December 15th. They set an “outperform” rating and a $14.00 target price for the company. Seven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $14.50.

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.