GSA Capital Partners LLP Makes New Investment in Rithm Capital Corp. $RITM

GSA Capital Partners LLP acquired a new position in shares of Rithm Capital Corp. (NYSE:RITM) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 111,473 shares of the real estate investment trust’s stock, valued at approximately $1,215,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Handelsbanken Fonder AB increased its stake in shares of Rithm Capital by 54.9% in the 4th quarter. Handelsbanken Fonder AB now owns 191,894 shares of the real estate investment trust’s stock valued at $2,092,000 after purchasing an additional 68,000 shares during the last quarter. North Dakota State Investment Board bought a new position in shares of Rithm Capital in the 4th quarter valued at $201,000. Thrivent Financial for Lutherans increased its stake in shares of Rithm Capital by 35.9% in the 4th quarter. Thrivent Financial for Lutherans now owns 179,086 shares of the real estate investment trust’s stock valued at $1,952,000 after purchasing an additional 47,326 shares during the last quarter. Meridian Financial Partners LLC increased its stake in shares of Rithm Capital by 1.1% in the 4th quarter. Meridian Financial Partners LLC now owns 94,034 shares of the real estate investment trust’s stock valued at $1,105,000 after purchasing an additional 1,042 shares during the last quarter. Finally, Pinnacle Associates Ltd. bought a new position in shares of Rithm Capital in the 4th quarter valued at $208,000. Institutional investors own 44.92% of the company’s stock.

Analyst Upgrades and Downgrades

RITM has been the topic of several recent analyst reports. Keefe, Bruyette & Woods decreased their price target on Rithm Capital from $14.00 to $13.00 and set an “outperform” rating on the stock in a research note on Friday, May 1st. Royal Bank Of Canada decreased their price target on Rithm Capital from $14.00 to $13.00 and set an “outperform” rating on the stock in a research note on Friday, May 1st. Piper Sandler decreased their price target on Rithm Capital from $15.00 to $14.00 and set an “overweight” rating on the stock in a research note on Thursday, April 2nd. Citigroup reiterated an “outperform” rating on shares of Rithm Capital in a research note on Wednesday. Finally, Capital One Financial set a $12.50 price target on Rithm Capital in a research note on Thursday, April 9th. Nine research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $13.61.

Rithm Capital Trading Up 3.1%

NYSE RITM opened at $9.28 on Thursday. The company has a quick ratio of 1.28, a current ratio of 1.28 and a debt-to-equity ratio of 4.02. Rithm Capital Corp. has a twelve month low of $8.43 and a twelve month high of $12.74. The company has a market cap of $5.18 billion, a price-to-earnings ratio of 8.51 and a beta of 1.17. The business’s fifty day moving average is $9.61 and its 200 day moving average is $10.52.

Rithm Capital (NYSE:RITM) last released its quarterly earnings data on Tuesday, April 28th. The real estate investment trust reported $0.51 earnings per share 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 firm had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.27 billion. As a group, sell-side analysts expect that Rithm Capital Corp. will post 2.27 EPS for the current fiscal year.

Rithm Capital Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, April 30th. Shareholders of record on Monday, April 6th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, April 6th. This represents a $1.00 annualized dividend and a yield of 10.8%. Rithm Capital’s payout ratio is presently 91.74%.

About Rithm Capital

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.