California State Teachers Retirement System Has $5.89 Million Stake in Rithm Capital Corp. $RITM

California State Teachers Retirement System increased its holdings in shares of Rithm Capital Corp. (NYSE:RITM) by 23.9% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 621,315 shares of the real estate investment trust’s stock after purchasing an additional 119,894 shares during the period. California State Teachers Retirement System’s holdings in Rithm Capital were worth $5,890,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the business. Norges Bank acquired a new position in shares of Rithm Capital during the 4th quarter worth approximately $77,067,000. Qube Research & Technologies Ltd increased its holdings in shares of Rithm Capital by 80.7% in the third quarter. Qube Research & Technologies Ltd now owns 7,890,987 shares of the real estate investment trust’s stock valued at $89,878,000 after purchasing an additional 3,524,330 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Rithm Capital by 17,546.2% in the first quarter. Principal Financial Group Inc. now owns 2,693,696 shares of the real estate investment trust’s stock valued at $25,536,000 after purchasing an additional 2,678,431 shares during the period. UBS Group AG lifted its stake in shares of Rithm Capital by 127.9% during the 3rd quarter. UBS Group AG now owns 3,718,822 shares of the real estate investment trust’s stock worth $42,357,000 after buying an additional 2,087,282 shares during the last quarter. Finally, Balyasny Asset Management L.P. boosted its holdings in shares of Rithm Capital by 52.1% during the 3rd quarter. Balyasny Asset Management L.P. now owns 5,939,093 shares of the real estate investment trust’s stock worth $67,646,000 after buying an additional 2,033,973 shares during the period. 44.92% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, Director David Saltzman sold 80,922 shares of the company’s stock in a transaction on Wednesday, May 20th. The shares were sold at an average price of $9.25, for a total transaction of $748,528.50. Following the completion of the transaction, the director directly owned 44,248 shares in the company, valued at approximately $409,294. This represents a 64.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.57% of the company’s stock.

Rithm Capital Stock Performance

Rithm Capital stock opened at $10.12 on Thursday. The stock has a market cap of $5.65 billion, a PE ratio of 16.88 and a beta of 1.14. The company has a quick ratio of 1.28, a current ratio of 0.90 and a debt-to-equity ratio of 2.19. Rithm Capital Corp. has a 12-month low of $8.43 and a 12-month high of $12.74. The business’s 50-day moving average price is $9.32 and its two-hundred day moving average price is $9.80.

Rithm Capital (NYSE:RITM) last posted its quarterly earnings results on Tuesday, July 28th. The real estate investment trust reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.50 by $0.10. Rithm Capital had a net margin of 9.20% and a return on equity of 19.86%. As a group, analysts expect that Rithm Capital Corp. will post 2.22 earnings per share for the current fiscal year.

Rithm Capital Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Thursday, July 2nd were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.9%. The ex-dividend date of this dividend was Thursday, July 2nd. Rithm Capital’s payout ratio is presently 166.67%.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. Piper Sandler lowered their price target on shares of Rithm Capital from $14.00 to $12.50 and set an “overweight” rating on the stock in a report on Thursday, July 2nd. Keefe, Bruyette & Woods lowered their price objective on Rithm Capital from $14.00 to $13.00 and set an “outperform” rating on the stock in a research report on Friday, May 1st. Citizens Jmp lifted their price objective on shares of Rithm Capital from $12.50 to $13.50 and gave the stock a “market outperform” rating in a research note on Wednesday, May 20th. Capital One Financial set a $12.50 target price on Rithm Capital in a research report on Thursday, April 9th. Finally, Weiss Ratings raised shares of Rithm Capital from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, July 28th. Ten equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $13.20.

Rithm Capital Profile

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.