Rithm Capital (NYSE:RITM) CEO Sells $3,317,028.00 in Stock

Rithm Capital Corp. (NYSE:RITM) CEO Michael Nierenberg sold 301,548 shares of the company’s stock in a transaction that occurred on Wednesday, November 5th. The shares were sold at an average price of $11.00, for a total value of $3,317,028.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Rithm Capital Stock Performance

Shares of NYSE RITM traded down $0.15 during trading hours on Thursday, reaching $10.96. 5,831,652 shares of the stock were exchanged, compared to its average volume of 4,999,537. The firm has a market capitalization of $6.07 billion, a price-to-earnings ratio of 7.56 and a beta of 1.30. The stock’s fifty day simple moving average is $11.52 and its 200 day simple moving average is $11.57. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.40 and a current ratio of 0.45. Rithm Capital Corp. has a 52 week low of $9.13 and a 52 week high of $12.74.

Rithm Capital (NYSE:RITM) last issued its quarterly earnings data on Thursday, October 30th. The real estate investment trust reported $0.54 EPS for the quarter, meeting analysts’ consensus estimates of $0.54. Rithm Capital had a return on equity of 18.82% and a net margin of 17.08%.The firm had revenue of $314.93 million for the quarter, compared to analyst estimates of $1.07 billion. Sell-side analysts predict that Rithm Capital Corp. will post 1.93 EPS for the current year.

Rithm Capital Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Wednesday, October 1st were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 9.1%. The ex-dividend date of this dividend was Wednesday, October 1st. Rithm Capital’s dividend payout ratio is 68.97%.

Institutional Trading of Rithm Capital

Several hedge funds have recently modified their holdings of RITM. SouthState Corp bought a new position in shares of Rithm Capital during the 1st quarter worth about $25,000. Cullen Frost Bankers Inc. bought a new position in Rithm Capital in the second quarter worth approximately $30,000. Bessemer Group Inc. grew its stake in Rithm Capital by 658.9% in the third quarter. Bessemer Group Inc. now owns 2,656 shares of the real estate investment trust’s stock valued at $30,000 after acquiring an additional 2,306 shares during the period. Atlantic Union Bankshares Corp bought a new stake in shares of Rithm Capital during the third quarter valued at approximately $31,000. Finally, Mather Group LLC. acquired a new position in shares of Rithm Capital during the third quarter worth approximately $33,000. Institutional investors own 44.92% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on RITM shares. Jones Trading reiterated a “buy” rating and set a $13.50 price objective on shares of Rithm Capital in a research note on Thursday, October 30th. BTIG Research reiterated a “buy” rating and set a $16.00 price target on shares of Rithm Capital in a research report on Wednesday, September 17th. Weiss Ratings restated a “buy (b)” rating on shares of Rithm Capital in a research report on Wednesday, October 8th. UBS Group upped their target price on Rithm Capital from $14.00 to $16.00 and gave the stock a “buy” rating in a research note on Wednesday, September 3rd. Finally, Royal Bank Of Canada lifted their price target on Rithm Capital from $13.00 to $14.00 and gave the company an “outperform” rating in a research note on Friday, August 1st. One investment analyst has rated the stock with a Strong Buy rating and nine have given a Buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $14.25.

Rithm Capital Company Profile

Rithm Capital Corp. operates as an asset manager focused on real estate, credit, and financial services. It operates through Origination and Servicing, Investment Portfolio, Mortgage Loans Receivable, and Asset Management segments. Its investment portfolio primarily comprises of mortgage servicing rights (MSR), and MSR financing receivables, title, appraisal and property preservation, excess MSRs, and services advance investments; real estate securities, call rights, SFR properties, and residential mortgage loans; consumer and business purpose loans; and asset management related investments.