Moore Capital Management LP Grows Stake in Rithm Capital Corp. $RITM

Moore Capital Management LP lifted its position in Rithm Capital Corp. (NYSE:RITM) by 6.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,600,000 shares of the real estate investment trust’s stock after buying an additional 95,000 shares during the period. Moore Capital Management LP owned approximately 0.29% of Rithm Capital worth $17,440,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of RITM. AQR Capital Management LLC lifted its position in Rithm Capital by 20.4% during the first quarter. AQR Capital Management LLC now owns 77,625 shares of the real estate investment trust’s stock valued at $889,000 after purchasing an additional 13,166 shares in the last quarter. NewEdge Advisors LLC lifted its position in Rithm Capital by 5.3% during the first quarter. NewEdge Advisors LLC now owns 31,311 shares of the real estate investment trust’s stock valued at $359,000 after purchasing an additional 1,585 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in Rithm Capital by 75.6% during the first quarter. Goldman Sachs Group Inc. now owns 1,539,483 shares of the real estate investment trust’s stock valued at $17,627,000 after purchasing an additional 662,585 shares in the last quarter. Geneos Wealth Management Inc. lifted its position in Rithm Capital by 14.3% during the first quarter. Geneos Wealth Management Inc. now owns 7,031 shares of the real estate investment trust’s stock valued at $81,000 after purchasing an additional 881 shares in the last quarter. Finally, M&T Bank Corp lifted its position in Rithm Capital by 13.9% during the second quarter. M&T Bank Corp now owns 26,173 shares of the real estate investment trust’s stock valued at $296,000 after purchasing an additional 3,200 shares in the last quarter. 44.92% of the stock is currently owned by hedge funds and other institutional investors.

Rithm Capital Trading Down 1.7%

Shares of RITM stock opened at $9.18 on Thursday. Rithm Capital Corp. has a 12-month low of $8.43 and a 12-month high of $12.74. The company has a current ratio of 1.28, a quick ratio of 1.28 and a debt-to-equity ratio of 4.02. The stock’s 50-day moving average price is $9.56 and its 200-day moving average price is $10.25. The stock has a market capitalization of $5.12 billion, a price-to-earnings ratio of 8.42 and a beta of 1.14.

Rithm Capital (NYSE:RITM) last issued its earnings results on Tuesday, April 28th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.02). Rithm Capital had a return on equity of 19.48% and a net margin of 14.44%.The firm had revenue of $1.38 billion during the quarter, compared to the consensus estimate of $1.27 billion. Equities research analysts predict that Rithm Capital Corp. will post 2.27 EPS for the current fiscal year.

Rithm Capital Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, April 30th. Stockholders of record on Monday, April 6th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 10.9%. The ex-dividend date of this dividend was Monday, April 6th. Rithm Capital’s payout ratio is 91.74%.

Insider Activity

In other Rithm Capital news, Director David Saltzman sold 80,922 shares of the business’s stock in a transaction that occurred on Wednesday, May 20th. The stock was sold at an average price of $9.25, for a total transaction of $748,528.50. Following the sale, the director directly owned 44,248 shares of the company’s stock, valued at $409,294. The trade was a 64.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.57% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on RITM. Wall Street Zen downgraded Rithm Capital from a “buy” rating to a “hold” rating in a research report on Saturday, May 2nd. Compass Point began coverage on Rithm Capital in a research report on Monday, June 8th. They set a “buy” rating and a $14.00 target price on the stock. Capital One Financial set a $12.50 target price on Rithm Capital in a research report on Thursday, April 9th. BTIG Research lowered their target price on Rithm Capital from $16.00 to $13.00 and set a “buy” rating on the stock in a research report on Tuesday. Finally, Piper Sandler lowered their target price on Rithm Capital from $15.00 to $14.00 and set an “overweight” rating on the stock in a research report on Thursday, April 2nd. Ten analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $13.35.

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.