Rithm Capital (NYSE:RITM) Insider David Zeiden Sells 19,285 Shares

Rithm Capital Corp. (NYSE:RITM) insider David Zeiden sold 19,285 shares of the business’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of $11.11, for a total transaction of $214,256.35. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Rithm Capital Stock Down 0.0%

Shares of Rithm Capital stock traded down $0.01 during trading on Tuesday, hitting $10.86. 7,100,589 shares of the stock traded hands, compared to its average volume of 5,028,785. The stock has a market cap of $6.02 billion, a P/E ratio of 7.49 and a beta of 1.30. The company has a fifty day moving average price of $11.30 and a two-hundred day moving average price of $11.60. Rithm Capital Corp. has a twelve month low of $9.13 and a twelve month high of $12.74. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.45 and a current ratio of 0.45.

Rithm Capital (NYSE:RITM) last issued its quarterly earnings data on Thursday, October 30th. The real estate investment trust reported $0.54 earnings per share for the quarter, meeting the consensus estimate of $0.54. The firm had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.07 billion. Rithm Capital had a net margin of 17.08% and a return on equity of 18.82%. Equities research analysts predict that Rithm Capital Corp. will post 1.93 EPS for the current fiscal year.

Rithm Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Wednesday, October 1st were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 9.2%. The ex-dividend date of this dividend was Wednesday, October 1st. Rithm Capital’s payout ratio is currently 68.97%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in RITM. Kingstone Capital Partners Texas LLC bought a new stake in shares of Rithm Capital in the 2nd quarter valued at approximately $96,027,000. Norges Bank bought a new stake in Rithm Capital in the second quarter valued at $72,762,000. Qube Research & Technologies Ltd raised its stake in Rithm Capital by 80.7% during the third quarter. Qube Research & Technologies Ltd now owns 7,890,987 shares of the real estate investment trust’s stock worth $89,878,000 after acquiring an additional 3,524,330 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Rithm Capital during the second quarter valued at $24,938,000. Finally, UBS Group AG boosted its stake in shares of Rithm Capital by 127.9% in the 3rd quarter. UBS Group AG now owns 3,718,822 shares of the real estate investment trust’s stock valued at $42,357,000 after purchasing an additional 2,087,282 shares in the last quarter. Institutional investors and hedge funds own 44.92% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on RITM shares. Jones Trading reaffirmed a “buy” rating and issued a $13.50 target price on shares of Rithm Capital in a report on Thursday, October 30th. BTIG Research restated a “buy” rating and issued a $16.00 price objective on shares of Rithm Capital in a research note on Wednesday, September 17th. Keefe, Bruyette & Woods boosted their target price on shares of Rithm Capital from $13.50 to $14.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 29th. Wedbush reissued an “outperform” rating and issued a $14.00 price target on shares of Rithm Capital in a report on Wednesday, August 6th. Finally, UBS Group boosted their price objective on shares of Rithm Capital from $14.00 to $16.00 and gave the stock a “buy” rating in a report on Wednesday, September 3rd. One equities research analyst has rated the stock with a Strong Buy rating and nine have issued a Buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $14.25.

About Rithm Capital

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.