Arrowstreet Capital Limited Partnership Raises Position in Rithm Capital Corp. $RITM

Arrowstreet Capital Limited Partnership boosted its position in Rithm Capital Corp. (NYSE:RITM) by 38.8% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 1,149,167 shares of the real estate investment trust’s stock after acquiring an additional 321,531 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Rithm Capital were worth $12,974,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in RITM. SouthState Corp purchased a new position in shares of Rithm Capital during the 1st quarter valued at $25,000. Cullen Frost Bankers Inc. purchased a new position in Rithm Capital in the 2nd quarter worth $30,000. Ameritas Advisory Services LLC purchased a new position in shares of Rithm Capital in the second quarter worth about $43,000. SVB Wealth LLC bought a new stake in Rithm Capital in the first quarter valued at approximately $57,000. Finally, GAMMA Investing LLC raised its holdings in Rithm Capital by 19.1% during the 2nd quarter. GAMMA Investing LLC now owns 5,528 shares of the real estate investment trust’s stock valued at $62,000 after buying an additional 887 shares during the last quarter. 44.92% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Rithm Capital news, insider David Zeiden sold 19,285 shares of Rithm Capital stock in a transaction on Friday, November 14th. The shares were sold at an average price of $11.11, for a total value of $214,256.35. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO Michael Nierenberg sold 301,548 shares of the company’s stock in a transaction dated Wednesday, November 5th. The shares were 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. 0.44% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. 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. UBS Group upped their price target on shares of Rithm Capital from $14.00 to $16.00 and gave the stock a “buy” rating in a research note on Wednesday, September 3rd. Weiss Ratings reissued a “hold (c+)” rating on shares of Rithm Capital in a report on Monday, December 1st. Finally, Jones Trading reissued a “buy” rating and set a $13.50 price objective on shares of Rithm Capital in a report on Thursday, October 30th. One analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $14.25.

Rithm Capital Price Performance

Rithm Capital stock opened at $11.09 on Tuesday. Rithm Capital Corp. has a 12-month low of $9.13 and a 12-month high of $12.74. The firm has a 50-day moving average price of $11.05 and a 200-day moving average price of $11.58. The firm has a market capitalization of $6.14 billion, a PE ratio of 7.64 and a beta of 1.22. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 1.52.

Rithm Capital (NYSE:RITM) last issued its quarterly earnings results on Thursday, October 30th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, hitting 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 $1.11 billion during the quarter, compared to analyst estimates of $1.07 billion. As a group, equities research analysts forecast that Rithm Capital Corp. will post 1.93 EPS for the current year.

Rithm Capital Announces Dividend

The business 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 dividend on an annualized basis and a yield of 9.0%. Rithm Capital’s dividend payout ratio (DPR) is presently 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.