Rithm Capital Corp. (NYSE:RITM) Short Interest Update
by Amy Steele · The Cerbat GemRithm Capital Corp. (NYSE:RITM – Get Free Report) was the target of a large growth in short interest in March. As of March 31st, there was short interest totaling 35,218,399 shares, a growth of 173.9% from the March 15th total of 12,858,042 shares. Currently, 6.4% of the shares of the stock are short sold. Based on an average trading volume of 20,426,664 shares, the short-interest ratio is currently 1.7 days.
Rithm Capital Price Performance
Rithm Capital stock traded up $0.01 during midday trading on Friday, reaching $9.92. The company’s stock had a trading volume of 4,307,279 shares, compared to its average volume of 14,869,262. Rithm Capital has a 52 week low of $8.43 and a 52 week high of $12.74. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 2.20. The business has a 50-day moving average price of $9.93 and a 200-day moving average price of $10.74. The stock has a market cap of $5.54 billion, a PE ratio of 9.53 and a beta of 1.19.
Rithm Capital (NYSE:RITM – Get Free Report) last issued its quarterly earnings data on Tuesday, February 3rd. The real estate investment trust reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.19. The business had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.24 billion. Rithm Capital had a net margin of 15.55% and a return on equity of 19.74%. On average, sell-side analysts predict that Rithm Capital will post 1.93 EPS for the current year.
Rithm Capital Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, April 30th. Shareholders of record on Monday, April 6th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, April 6th. This represents a $1.00 annualized dividend and a yield of 10.1%. Rithm Capital’s payout ratio is presently 96.15%.
Wall Street Analyst Weigh In
Several 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 Friday. Weiss Ratings reiterated a “hold (c+)” rating on shares of Rithm Capital in a research report on Monday, December 29th. Wall Street Zen upgraded shares of Rithm Capital from a “hold” rating to a “buy” rating in a research report on Saturday, March 7th. Piper Sandler reduced their price target on shares of Rithm Capital from $15.00 to $14.00 and set an “overweight” rating on the stock in a research report on Thursday, April 2nd. Finally, Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of Rithm Capital in a research report on Thursday, December 18th. Seven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $14.06.
Get Our Latest Research Report on Rithm Capital
Institutional Investors Weigh In On Rithm Capital
Large investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC raised its position in shares of Rithm Capital by 20.4% during the first quarter. AQR Capital Management LLC now owns 77,625 shares of the real estate investment trust’s stock worth $889,000 after purchasing an additional 13,166 shares during the period. NewEdge Advisors LLC raised its position in shares of Rithm Capital by 5.3% during the first quarter. NewEdge Advisors LLC now owns 31,311 shares of the real estate investment trust’s stock worth $359,000 after purchasing an additional 1,585 shares during the period. Goldman Sachs Group Inc. raised its position in shares of Rithm Capital by 75.6% during the first quarter. Goldman Sachs Group Inc. now owns 1,539,483 shares of the real estate investment trust’s stock worth $17,627,000 after purchasing an additional 662,585 shares during the period. Geneos Wealth Management Inc. raised its position in shares of Rithm Capital by 14.3% during the first quarter. Geneos Wealth Management Inc. now owns 7,031 shares of the real estate investment trust’s stock worth $81,000 after purchasing an additional 881 shares during the period. Finally, M&T Bank Corp raised its position in shares of Rithm Capital by 13.9% during the second quarter. M&T Bank Corp now owns 26,173 shares of the real estate investment trust’s stock worth $296,000 after purchasing an additional 3,200 shares during the period. Institutional investors and hedge funds own 44.92% of the company’s stock.
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.