Rithm Capital Corp. (NYSE:RITM) Stock Position Raised by Capital Square LLC

Capital Square LLC boosted its position in Rithm Capital Corp. (NYSE:RITM) by 2.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 245,510 shares of the real estate investment trust’s stock after purchasing an additional 5,211 shares during the quarter. Rithm Capital comprises 1.8% of Capital Square LLC’s investment portfolio, making the stock its 9th biggest position. Capital Square LLC owned about 0.05% of Rithm Capital worth $2,863,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. American National Bank purchased a new position in Rithm Capital during the 4th quarter valued at $27,000. Bessemer Group Inc. purchased a new position in shares of Rithm Capital during the first quarter valued at approximately $30,000. Raleigh Capital Management Inc. boosted its position in shares of Rithm Capital by 125.4% in the 4th quarter. Raleigh Capital Management Inc. now owns 2,986 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 1,661 shares in the last quarter. GAMMA Investing LLC purchased a new stake in shares of Rithm Capital in the 4th quarter worth approximately $34,000. Finally, Altshuler Shaham Ltd bought a new position in Rithm Capital during the 4th quarter valued at approximately $43,000. 44.92% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. B. Riley restated a “buy” rating and set a $14.00 price target (up from $13.00) on shares of Rithm Capital in a report on Friday, May 10th. JMP Securities raised their target price on shares of Rithm Capital from $11.00 to $12.50 and gave the stock a “market outperform” rating in a report on Friday, July 19th. Wedbush reiterated an “outperform” rating and issued a $13.00 price objective on shares of Rithm Capital in a research note on Friday, August 16th. Piper Sandler lifted their target price on Rithm Capital from $10.50 to $12.50 and gave the company a “neutral” rating in a research report on Tuesday, May 14th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $13.00 price objective on shares of Rithm Capital in a research note on Tuesday, August 13th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.60.

Rithm Capital Stock Down 0.8 %

RITM stock traded down $0.09 during trading on Tuesday, hitting $11.85. 169,229 shares of the company’s stock traded hands, compared to its average volume of 3,170,507. The firm has a market capitalization of $5.73 billion, a P/E ratio of 7.96 and a beta of 1.82. Rithm Capital Corp. has a 1 year low of $8.87 and a 1 year high of $11.94. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 1.81. The business has a fifty day simple moving average of $11.24 and a two-hundred day simple moving average of $11.10.

Rithm Capital (NYSE:RITM) last released its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported $0.47 EPS for the quarter, topping the consensus estimate of $0.42 by $0.05. Rithm Capital had a return on equity of 18.04% and a net margin of 15.55%. The firm had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same period in the previous year, the company posted $0.62 EPS. The business’s revenue for the quarter was up 18.4% compared to the same quarter last year. Sell-side analysts anticipate that Rithm Capital Corp. will post 1.82 EPS for the current year.

Rithm Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 26th. Stockholders of record on Monday, July 1st were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, July 1st. This represents a $1.00 annualized dividend and a dividend yield of 8.44%. Rithm Capital’s dividend payout ratio is presently 66.67%.

Rithm Capital Company Profile

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.