Police & Firemen s Retirement System of New Jersey Purchases 11,130 Shares of Rithm Capital Corp. $RITM

Police & Firemen s Retirement System of New Jersey lifted its position in shares of Rithm Capital Corp. (NYSE:RITM) by 5.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 202,548 shares of the real estate investment trust’s stock after purchasing an additional 11,130 shares during the period. Police & Firemen s Retirement System of New Jersey’s holdings in Rithm Capital were worth $2,287,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of RITM. Kingstone Capital Partners Texas LLC acquired a new position in Rithm Capital during the second quarter worth approximately $96,027,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Rithm Capital during the 2nd quarter worth approximately $24,938,000. Mackenzie Financial Corp boosted its stake in shares of Rithm Capital by 288.6% during the 1st quarter. Mackenzie Financial Corp now owns 2,725,392 shares of the real estate investment trust’s stock worth $31,206,000 after acquiring an additional 2,024,090 shares during the period. Wellington Management Group LLP increased its holdings in shares of Rithm Capital by 36.3% during the 1st quarter. Wellington Management Group LLP now owns 4,907,737 shares of the real estate investment trust’s stock worth $56,194,000 after acquiring an additional 1,307,276 shares during the last quarter. Finally, Nuveen LLC bought a new stake in Rithm Capital in the 1st quarter valued at $14,086,000. 44.92% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently weighed in on RITM. UBS Group increased their price objective on shares of Rithm Capital from $14.00 to $16.00 and gave the company a “buy” rating in a research report on Wednesday, September 3rd. BTIG Research reissued a “buy” rating and issued a $16.00 price target on shares of Rithm Capital in a report on Wednesday, September 17th. Royal Bank Of Canada upped their target price on Rithm Capital from $13.00 to $14.00 and gave the company an “outperform” rating in a research report on Friday, August 1st. Jones Trading reiterated a “buy” rating and set a $13.50 target price on shares of Rithm Capital in a research note on Thursday, October 30th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Rithm Capital in a research note on Thursday, November 13th. One investment analyst has rated the stock with a Strong Buy rating and nine have issued a Buy rating to the stock. According to MarketBeat.com, Rithm Capital has an average rating of “Buy” and an average target price of $14.25.

Insider Transactions at Rithm Capital

In other news, insider David Zeiden sold 19,285 shares of the company’s stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $11.11, for a total transaction of $214,256.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael Nierenberg sold 301,548 shares of the stock in a transaction that occurred on Wednesday, November 5th. The stock was sold at an average price of $11.00, for a total transaction of $3,317,028.00. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.44% of the company’s stock.

Rithm Capital Stock Down 0.3%

NYSE RITM opened at $10.84 on Thursday. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 1.52. The company has a market cap of $6.01 billion, a price-to-earnings ratio of 7.47 and a beta of 1.30. The company has a 50 day moving average of $11.24 and a 200-day moving average of $11.59. Rithm Capital Corp. has a 1-year low of $9.13 and a 1-year high of $12.74.

Rithm Capital (NYSE:RITM) last posted its quarterly earnings data on Thursday, October 30th. The real estate investment trust reported $0.54 EPS for the quarter, hitting analysts’ consensus estimates 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 return on equity of 18.82% and a net margin of 17.08%. On average, equities research analysts expect that Rithm Capital Corp. will post 1.93 earnings per share for the current fiscal year.

Rithm Capital Announces Dividend

The company 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. The ex-dividend date of this dividend was Wednesday, October 1st. This represents a $1.00 annualized dividend and a yield of 9.2%. Rithm Capital’s dividend payout ratio is currently 68.97%.

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.