Mar. 22 at 11:00 AM
$RITM This one was on my weekend research to see if I missed something buying heavily on Friday. The massive volume was the highest daily ever in this REIT surpassing the Covid implosion. Part was fund managers buying due to
$RITM inclusion in the S&P Smallcap 600 starting on Monday but typically that boosts the stock price. It has 9 analysts with strong buy / buy ratings vs. zero hold or sell and an average
$14.58 price target with the lowest at
$13.50. It is paying 11.40% dividend based on the closing price and consistently paid the same
$1/ year since 2021.
The slide started back on Jan 29 at a high of
$12.06 when all the REITs took a hit like the popular
$AGNC. The stock popped on the ER on Feb 3 with a double beat but then continued the decline.
I know it has some private equity funding divisions that are the current whipping boy and management is considering a transition from a REIT to a C corp due to previous non REIT acquisitions that conflict with the REIT requirements.
