BlackRock Fund Advisors recently announced the acquisition of new stake in Rithm Capital Corporation (NYSE:RITM). The institutional investor has increased its shareholding in the Real Estate company by 0.91% to 23.18 million shares with purchase of 0.21 million shares. This fresh investment now brings its stake to 4.80% valued currently at $240.59 million. In addition, Geode Capital Management LLC raised its holdings by 0.42 million to 9.51 million shares. And SSgA Funds Management, Inc. has lifted its position by 2.67% or 0.21 million shares – to 8.09 million shares.
Currently, there are 483.21M common shares owned by the public and among those 480.62M shares have been available to trade.
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Insiders at the company have transacted a total of 20 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 19 of these insider trades were purchases, accounting for 725,808 shares. Insider sales of the common stock occurred on 1 occasions, with total insider shares sold totaling 106,545 shares.
The top 3 mutual fund holders in Rithm Capital Corporation are Vanguard Total Stock Market ETF, Vanguard Small Cap Index Fund, and Vanguard Small Cap Value Index Fu. Vanguard Total Stock Market ETF owns 14.96 million shares of the company’s stock, all valued at over $155.24 million. The company bought an additional 0.15 million shares recently to bring their total holdings to about 3.10% of the shares outstanding. Vanguard Small Cap Index Fund bought 28641.0 shares to see its total holdings expand to 12.46 million shares valued at over $129.35 million and representing 2.58% of the shares outstanding. Vanguard Small Cap Value Index Fu sold 33795.0 shares to bring its total holdings to over 8.67 million shares at a value of $90.02 million. Vanguard Small Cap Value Index Fu now owns shares totaling to 1.80% of the shares outstanding.
However, the script later moved the day high at 11.10, up 1.93%. The company’s stock has a 5-day price change of 5.22% and 11.58% over the past three months. RITM shares are trading 35.62% year to date (YTD), with the 12-month market performance up to 37.47% higher. It has a 12-month low price of $7.40 and touched a high of $11.06 over the same period. RITM has an average intraday trading volume of 3.51 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 6.08%, 12.23%, and 20.39% respectively.
Institutional ownership of Rithm Capital Corporation (NYSE: RITM) shares accounts for 45.61% of the company’s 483.21M shares outstanding. Mutual fund holders own 22.73%, while other institutional holders and individual stakeholders account for 23.24% and 0.92% respectively.
It has a market capitalization of $5.35B and a beta (3y monthly) value of 1.83. The stock’s trailing 12-month PE ratio is 7.63, while the earnings-per-share (ttm) stands at $1.45. The company has a PEG of 0.54 and the debt-to-equity ratio at 3.56. Price movements for the stock have been influenced by the stock’s volatility, which stands at 1.78% over the week and 1.39% over the month.
Analysts forecast that Rithm Capital Corporation (RITM) will achieve an EPS of $0.38 for the current quarter, $0.38 for the next quarter and $1.61 for 2024. The lowest estimate earnings-per-share for the quarter is $0.31 while analysts give the company a high EPS estimate of $0.5. Comparatively, EPS for the current quarter was $0.33 a year ago. Earnings per share for the fiscal year are expected to increase by 37.99%, and -10.81% over the next financial year. EPS should grow at an annualized rate of 14.14% over the next five years, compared to -10.63% over the past 5-year period.
Looking at the support for the RITM, a number of firms have released research notes about the stock. UBS stated their Buy rating for the stock in a research note on December 06, 2023, with the firm’s price target at $12.50.
