Rithm Capital Corp. $RITM Shares Sold by Citigroup Inc.

Citigroup Inc. decreased its stake in Rithm Capital Corp. (NYSE:RITM) by 13.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 825,514 shares of the real estate investment trust’s stock after selling 129,340 shares during the period. Citigroup Inc. owned approximately 0.15% of Rithm Capital worth $9,403,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Bessemer Group Inc. increased its stake in 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 valued at $30,000 after purchasing an additional 2,306 shares in the last quarter. Atlantic Union Bankshares Corp acquired a new stake in Rithm Capital in the third quarter valued at $31,000. Mather Group LLC. purchased a new position in shares of Rithm Capital in the third quarter valued at $33,000. Optimum Investment Advisors raised its stake in shares of Rithm Capital by 200.0% during the 3rd quarter. Optimum Investment Advisors now owns 3,000 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 2,000 shares during the last quarter. Finally, Valley Wealth Managers Inc. purchased a new stake in shares of Rithm Capital in the 3rd quarter worth about $46,000. Hedge funds and other institutional investors own 44.92% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on RITM. Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of Rithm Capital in a report on Thursday, December 18th. Wedbush began coverage on Rithm Capital in a research note on Monday, December 15th. They issued an “outperform” rating and a $14.00 target price on the stock. UBS Group set a $15.00 price target on Rithm Capital in a research report on Friday, February 6th. Weiss Ratings reissued a “hold (c+)” rating on shares of Rithm Capital in a report on Monday, December 29th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $15.00 price objective (down from $15.50) on shares of Rithm Capital in a research note on Wednesday, February 4th. Seven investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Rithm Capital has a consensus rating of “Moderate Buy” and an average target price of $14.50.

Rithm Capital Stock Performance

Shares of RITM stock opened at $10.08 on Monday. The company has a debt-to-equity ratio of 2.20, a quick ratio of 0.58 and a current ratio of 0.58. The firm has a market capitalization of $5.60 billion, a price-to-earnings ratio of 9.69 and a beta of 1.21. Rithm Capital Corp. has a one year low of $9.13 and a one year high of $12.74. The company has a 50 day moving average price of $11.04 and a 200 day moving average price of $11.33.

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

Rithm Capital Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 30th. Stockholders of record on Wednesday, December 31st were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.9%. The ex-dividend date of this dividend was Wednesday, December 31st. Rithm Capital’s dividend payout ratio (DPR) is currently 96.15%.

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.