Elo Mutual Pension Insurance Co Boosts Holdings in Rithm Capital Corp. $RITM

Elo Mutual Pension Insurance Co grew its stake in Rithm Capital Corp. (NYSE:RITM) by 84.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 215,368 shares of the real estate investment trust’s stock after purchasing an additional 98,756 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Rithm Capital were worth $2,453,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. Bessemer Group Inc. boosted its holdings 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 worth $30,000 after buying an additional 2,306 shares during the last quarter. Atlantic Union Bankshares Corp purchased a new position in shares of Rithm Capital in the third quarter valued at approximately $31,000. Mather Group LLC. acquired a new stake in shares of Rithm Capital in the third quarter worth approximately $33,000. Optimum Investment Advisors increased its position in shares of 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 worth $34,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Valley Wealth Managers Inc. acquired a new position in Rithm Capital in the 3rd quarter valued at $46,000. Institutional investors and hedge funds own 44.92% of the company’s stock.

Analyst Ratings Changes

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

Rithm Capital Price Performance

Rithm Capital stock opened at $9.76 on Thursday. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 2.20. The company has a 50-day moving average price of $10.97 and a 200 day moving average price of $11.29. Rithm Capital Corp. has a 12-month low of $9.13 and a 12-month high of $12.74. The stock has a market cap of $5.43 billion, a P/E ratio of 9.38 and a beta of 1.21.

Rithm Capital (NYSE:RITM) last posted its quarterly 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 business had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.24 billion. Rithm Capital had a net margin of 15.55% and a return on equity of 19.74%. Sell-side analysts anticipate that Rithm Capital Corp. will post 1.93 earnings per share for the current year.

Rithm Capital Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 30th. Shareholders of record on Wednesday, December 31st were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $1.00 annualized dividend and a yield of 10.2%. Rithm Capital’s dividend payout ratio (DPR) is 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.