HFG Advisors Inc. Purchases Shares of 10,000 Rithm Capital Corp. (NYSE:RITM)

HFG Advisors Inc. purchased a new stake in Rithm Capital Corp. (NYSE:RITM) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 10,000 shares of the real estate investment trust’s stock, valued at approximately $109,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust increased its position in Rithm Capital by 605.1% in the 4th quarter. Parkside Financial Bank & Trust now owns 2,489 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 2,136 shares during the period. American National Bank acquired a new stake in shares of Rithm Capital during the fourth quarter worth $27,000. Bessemer Group Inc. acquired a new stake in shares of Rithm Capital during the first quarter worth $30,000. Raleigh Capital Management Inc. increased its position in shares of Rithm Capital by 125.4% during the fourth quarter. Raleigh Capital Management Inc. now owns 2,986 shares of the real estate investment trust’s stock worth $32,000 after buying an additional 1,661 shares during the period. Finally, GAMMA Investing LLC acquired a new stake in shares of Rithm Capital during the fourth quarter worth $34,000. 44.92% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Piper Sandler increased their target price on shares of Rithm Capital from $10.50 to $12.50 and gave the stock a “neutral” rating in a research note on Tuesday, May 14th. JMP Securities increased their target price on shares of Rithm Capital from $11.00 to $12.50 and gave the stock a “market outperform” rating in a research note on Friday, July 19th. B. Riley reissued a “buy” rating and set a $14.00 target price (up from $13.00) on shares of Rithm Capital in a research note on Friday, May 10th. Wedbush reissued an “outperform” rating and set a $13.00 target price on shares of Rithm Capital in a research note on Thursday, May 9th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Rithm Capital from $12.00 to $12.50 and gave the stock an “outperform” rating in a research note on Thursday, May 2nd. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $12.45.

Rithm Capital Stock Up 0.5 %

Shares of Rithm Capital stock traded up $0.06 during trading hours on Friday, reaching $11.16. The company’s stock had a trading volume of 1,906,907 shares, compared to its average volume of 3,298,094. The stock’s fifty day simple moving average is $11.12 and its two-hundred day simple moving average is $10.99. The company has a market capitalization of $5.40 billion, a P/E ratio of 7.44 and a beta of 1.82. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.29 and a current ratio of 0.29. Rithm Capital Corp. has a one year low of $8.87 and a one year high of $11.85.

Rithm Capital (NYSE:RITM) last announced its earnings results on Wednesday, July 31st. The real estate investment trust reported $0.47 EPS for the quarter, beating the consensus estimate of $0.42 by $0.05. Rithm Capital had a net margin of 15.55% and a return on equity of 18.20%. The company had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the prior year, the company posted $0.62 earnings per share. The firm’s revenue for the quarter was up 18.4% on a year-over-year basis. On average, research analysts forecast that Rithm Capital Corp. will post 1.78 earnings per share for the current year.

Rithm Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 26th. Stockholders of record on Monday, July 1st were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, July 1st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.96%. Rithm Capital’s dividend payout ratio (DPR) is currently 66.67%.

About Rithm Capital

Rithm Capital Corp. operates as an asset manager focused on real estate, credit, and financial services. It operates through Origination and Servicing, Investment Portfolio, Mortgage Loans Receivable, and Asset Management segments. Its investment portfolio primarily comprises of mortgage servicing rights (MSR), and MSR financing receivables, title, appraisal and property preservation, excess MSRs, and services advance investments; real estate securities, call rights, SFR properties, and residential mortgage loans; consumer and business purpose loans; and asset management related investments.