2,208,833 Shares in Rithm Capital Corp. $RITM Acquired by VIRGINIA RETIREMENT SYSTEMS ET Al

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Rithm Capital Corp. (NYSE:RITM) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 2,208,833 shares of the real estate investment trust’s stock, valued at approximately $24,938,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Kingstone Capital Partners Texas LLC purchased a new position in shares of Rithm Capital in the second quarter worth approximately $96,027,000. KBC Group NV boosted its holdings in shares of Rithm Capital by 24.0% in the first quarter. KBC Group NV now owns 22,846 shares of the real estate investment trust’s stock worth $262,000 after buying an additional 4,423 shares during the last quarter. Belpointe Asset Management LLC boosted its holdings in shares of Rithm Capital by 84.2% in the first quarter. Belpointe Asset Management LLC now owns 54,520 shares of the real estate investment trust’s stock worth $624,000 after buying an additional 24,920 shares during the last quarter. Edgestream Partners L.P. boosted its holdings in shares of Rithm Capital by 341.5% in the first quarter. Edgestream Partners L.P. now owns 688,882 shares of the real estate investment trust’s stock worth $7,888,000 after buying an additional 532,866 shares during the last quarter. Finally, Amalgamated Bank boosted its holdings in shares of Rithm Capital by 5.9% in the first quarter. Amalgamated Bank now owns 27,064 shares of the real estate investment trust’s stock worth $310,000 after buying an additional 1,502 shares during the last quarter. Hedge funds and other institutional investors own 44.92% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently issued reports on RITM. BTIG Research reissued a “buy” rating and issued a $16.00 price objective on shares of Rithm Capital in a report on Wednesday, September 17th. Keefe, Bruyette & Woods lifted their price target on shares of Rithm Capital from $13.50 to $14.00 and gave the company an “outperform” rating in a report on Tuesday, July 29th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Rithm Capital in a report on Wednesday, October 8th. UBS Group lifted their price target on shares of Rithm Capital from $14.00 to $16.00 and gave the company a “buy” rating in a report on Wednesday, September 3rd. Finally, Jones Trading lifted their price target on shares of Rithm Capital from $12.50 to $13.50 and gave the company a “buy” rating in a report on Tuesday, July 29th. One analyst has rated the stock with a Strong Buy rating and nine have assigned a Buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $14.25.

Rithm Capital Trading Up 1.3%

Rithm Capital stock opened at $10.84 on Monday. The stock has a market cap of $5.75 billion, a P/E ratio of 8.34 and a beta of 1.31. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.40 and a quick ratio of 0.40. Rithm Capital Corp. has a 1 year low of $9.13 and a 1 year high of $12.74. The firm’s 50 day moving average price is $11.89 and its 200-day moving average price is $11.49.

Rithm Capital (NYSE:RITM) last released its quarterly earnings data on Monday, July 28th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.03. The firm had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.18 billion. Rithm Capital had a net margin of 16.72% and a return on equity of 18.89%. On average, equities analysts predict that Rithm Capital Corp. will post 1.93 earnings per share for the current fiscal year.

Rithm Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Wednesday, October 1st will be given a dividend of $0.25 per share. The ex-dividend date is Wednesday, October 1st. This represents a $1.00 annualized dividend and a dividend yield of 9.2%. Rithm Capital’s dividend payout ratio (DPR) is presently 76.92%.

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.