LSV Asset Management Has $58.32 Million Position in Rithm Capital Corp. $RITM

LSV Asset Management lowered its stake in shares of Rithm Capital Corp. (NYSE:RITM) by 4.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,120,500 shares of the real estate investment trust’s stock after selling 234,500 shares during the quarter. LSV Asset Management owned about 0.92% of Rithm Capital worth $58,322,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cullen Frost Bankers Inc. acquired a new stake in shares of Rithm Capital in the second quarter worth $30,000. Bessemer Group Inc. lifted its position in Rithm Capital by 658.9% during the 3rd quarter. Bessemer Group Inc. now owns 2,656 shares of the real estate investment trust’s stock worth $30,000 after acquiring an additional 2,306 shares during the last quarter. Atlantic Union Bankshares Corp bought a new stake in Rithm Capital during the third quarter valued at about $31,000. Mather Group LLC. bought a new stake in Rithm Capital during the third quarter valued at about $33,000. Finally, Optimum Investment Advisors grew its position in shares of Rithm Capital by 200.0% in the third quarter. Optimum Investment Advisors now owns 3,000 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 2,000 shares during the last quarter. Institutional investors and hedge funds own 44.92% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on RITM. Weiss Ratings restated a “hold (c+)” rating on shares of Rithm Capital in a research note on Monday, December 29th. UBS Group set a $15.00 price objective on Rithm Capital in a research report on Friday, February 6th. Piper Sandler restated an “overweight” rating and issued a $15.00 price objective (down previously from $15.50) on shares of Rithm Capital in a research note on Wednesday, February 4th. Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of Rithm Capital in a research note on Thursday, December 18th. Finally, Jones Trading reissued a “buy” rating and issued a $13.50 price target on shares of Rithm Capital in a report on Thursday, October 30th. Seven analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $14.50.

Rithm Capital Stock Performance

RITM opened at $10.58 on Friday. The stock’s 50 day simple moving average is $11.21 and its 200-day simple moving average is $11.48. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 1.52. The stock has a market cap of $5.86 billion, a PE ratio of 10.17 and a beta of 1.20. Rithm Capital Corp. has a 1 year low of $9.13 and a 1 year high of $12.74.

Rithm Capital (NYSE:RITM) last posted its quarterly earnings results on Tuesday, February 3rd. The real estate investment trust reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.55 by $0.19. The firm had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.24 billion. Rithm Capital had a net margin of 15.55% and a return on equity of 20.19%. Sell-side analysts forecast that Rithm Capital Corp. will post 1.93 EPS for the current year.

Rithm Capital Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 30th. Stockholders of record on Wednesday, December 31st were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 9.5%. The ex-dividend date was Wednesday, December 31st. Rithm Capital’s payout ratio is 96.15%.

Rithm Capital Company Profile

Rithm Capital Corporation is a specialty finance company that originates, acquires and manages structured credit investments collateralized by real estate assets in the United States. The company focuses primarily on senior floating-rate loans secured by multifamily, commercial, industrial and single-family rental properties, aiming to deliver attractive risk-adjusted yields through a diversified portfolio of floating-rate real estate debt.

In addition to senior loans, Rithm Capital invests in residential mortgage-backed securities, including agency and non-agency pools, as well as other real estate-related credit instruments.