Rithm Capital Corp. (RITM) To Go Ex-Dividend on July 2nd

Rithm Capital Corp. (NYSE:RITM) declared a quarterly dividend on Monday, June 22nd. Investors of record on Thursday, July 2nd will be paid a dividend of 0.25 per share by the real estate investment trust on Friday, July 31st. This represents a c) dividend on an annualized basis and a dividend yield of 10.8%. The ex-dividend date is Thursday, July 2nd.

Rithm Capital has raised its dividend payment by an average of 0.1%annually over the last three years. Rithm Capital has a dividend payout ratio of 46.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Rithm Capital to earn $2.32 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 43.1%.

Rithm Capital Trading Up 0.9%

RITM opened at $9.22 on Wednesday. The business has a fifty day moving average price of $9.51 and a 200 day moving average price of $10.19. The company has a debt-to-equity ratio of 4.02, a current ratio of 1.28 and a quick ratio of 1.28. Rithm Capital has a 12 month low of $8.43 and a 12 month high of $12.74. The stock has a market capitalization of $5.15 billion, a price-to-earnings ratio of 8.46 and a beta of 1.14.

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

Insider Activity

In other news, Director David Saltzman sold 80,922 shares of the 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 completion of the transaction, the director directly owned 44,248 shares of the company’s stock, valued at approximately $409,294. This represents a 64.65% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.57% of the company’s stock.

Hedge Funds Weigh In On Rithm Capital

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. LFG Wealth Partners LLC lifted its stake in shares of Rithm Capital by 10.6% in the first quarter. LFG Wealth Partners LLC now owns 134,854 shares of the real estate investment trust’s stock valued at $1,278,000 after purchasing an additional 12,916 shares during the period. Western Wealth Management LLC acquired a new stake in shares of Rithm Capital during the first quarter valued at $62,000. Janus Henderson Group PLC increased its position in Rithm Capital by 15.6% during the 1st quarter. Janus Henderson Group PLC now owns 259,927 shares of the real estate investment trust’s stock worth $2,465,000 after purchasing an additional 35,000 shares in the last quarter. Arkadios Wealth Advisors purchased a new position in Rithm Capital in the 1st quarter valued at about $206,000. Finally, Altshuler Shaham Ltd lifted its stake in shares of Rithm Capital by 100.0% during the first quarter. Altshuler Shaham Ltd now owns 3,600 shares of the real estate investment trust’s stock valued at $34,000 after buying an additional 1,800 shares during the period. 44.92% of the stock is owned by institutional investors and hedge funds.

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.