Nisa Investment Advisors LLC Lowers Position in Rithm Capital Corp. $RITM

Nisa Investment Advisors LLC decreased its stake in shares of Rithm Capital Corp. (NYSE:RITM) by 51.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 55,180 shares of the real estate investment trust’s stock after selling 57,629 shares during the period. Nisa Investment Advisors LLC’s holdings in Rithm Capital were worth $620,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of RITM. CoreCap Advisors LLC grew its stake in shares of Rithm Capital by 99.2% during the 4th quarter. CoreCap Advisors LLC now owns 2,295 shares of the real estate investment trust’s stock valued at $25,000 after buying an additional 1,143 shares during the period. Bessemer Group Inc. raised its position in shares of Rithm Capital by 658.9% in the 3rd quarter. Bessemer Group Inc. now owns 2,656 shares of the real estate investment trust’s stock worth $30,000 after buying an additional 2,306 shares during the period. Atlantic Union Bankshares Corp acquired a new position in Rithm Capital in the third quarter valued at $31,000. Mather Group LLC. acquired a new position in Rithm Capital in the third quarter valued at $33,000. Finally, Optimum Investment Advisors grew its position in Rithm Capital by 200.0% during the third quarter. Optimum Investment Advisors now owns 3,000 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 2,000 shares during the period. Hedge funds and other institutional investors own 44.92% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on RITM. Weiss Ratings restated a “hold (c+)” rating on shares of Rithm Capital in a research note on Monday, December 29th. UBS Group set a $15.00 target price on Rithm Capital in a report on Friday, February 6th. Keefe, Bruyette & Woods reissued an “outperform” rating on shares of Rithm Capital in a research report on Thursday, December 18th. Wall Street Zen upgraded shares of Rithm Capital from a “hold” rating to a “buy” rating in a report on Saturday, March 7th. Finally, Wedbush initiated coverage on shares of Rithm Capital in a research report on Monday, December 15th. They set an “outperform” rating and a $14.00 price target on the stock. Seven analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $14.36.

Rithm Capital Stock Up 2.6%

Shares of NYSE RITM opened at $9.63 on Friday. The stock has a fifty day moving average price of $10.13 and a 200 day moving average price of $10.83. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 2.20. Rithm Capital Corp. has a 12-month low of $8.43 and a 12-month high of $12.74. The company has a market cap of $5.35 billion, a P/E ratio of 9.25 and a beta of 1.19.

Rithm Capital (NYSE:RITM) last issued its quarterly earnings data on Tuesday, February 3rd. The real estate investment trust reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.19. Rithm Capital had a return on equity of 19.74% and a net margin of 15.55%.The company had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.24 billion. Research analysts anticipate that Rithm Capital Corp. will post 1.93 EPS for the current fiscal year.

Rithm Capital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Monday, April 6th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 10.4%. The ex-dividend date is Monday, April 6th. Rithm Capital’s dividend payout ratio is currently 96.15%.

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.