BlueCrest Capital Management Ltd grew its stake in shares of Rithm Capital Corp. (NYSE:RITM – Free Report) by 16.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,863,237 shares of the real estate investment trust’s stock after buying an additional 256,926 shares during the quarter. Rithm Capital accounts for 0.5% of BlueCrest Capital Management Ltd’s investment portfolio, making the stock its 24th biggest position. BlueCrest Capital Management Ltd owned 0.39% of Rithm Capital worth $14,906,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. City Holding Co. bought a new position in shares of Rithm Capital during the 1st quarter valued at $28,000. National Bank of Canada FI bought a new position in shares of Rithm Capital during the 1st quarter valued at $34,000. Lazard Asset Management LLC bought a new position in shares of Rithm Capital during the 4th quarter valued at $34,000. American International Group Inc. bought a new position in shares of Rithm Capital during the 4th quarter valued at $36,000. Finally, Cowen Prime Advisors LLC bought a new position in shares of Rithm Capital during the 1st quarter valued at $45,000. Hedge funds and other institutional investors own 44.58% of the company’s stock.
Analyst Ratings Changes
Several research firms recently commented on RITM. Royal Bank of Canada reaffirmed an “outperform” rating and set a $12.00 target price on shares of Rithm Capital in a report on Friday, August 18th. JMP Securities raised their price target on shares of Rithm Capital from $10.00 to $10.50 and gave the stock an “outperform” rating in a report on Friday, July 21st. Piper Sandler raised their price target on shares of Rithm Capital from $10.00 to $10.50 in a report on Monday, August 7th. Wedbush reissued an “outperform” rating and issued a $12.00 price target on shares of Rithm Capital in a report on Thursday, August 3rd. Finally, Raymond James raised their price target on shares of Rithm Capital from $11.50 to $12.00 and gave the stock an “outperform” rating in a report on Wednesday, August 30th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $11.25.
Rithm Capital Trading Up 0.4 %
NYSE:RITM opened at $10.17 on Tuesday. The company has a 50-day moving average price of $9.90 and a 200-day moving average price of $8.90. Rithm Capital Corp. has a 12 month low of $6.86 and a 12 month high of $10.45. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.09. The stock has a market cap of $4.92 billion, a price-to-earnings ratio of 7.76 and a beta of 1.81.
Rithm Capital (NYSE:RITM – Get Free Report) last posted its earnings results on Monday, July 31st. The real estate investment trust reported $0.62 EPS for the quarter, topping the consensus estimate of $0.34 by $0.28. Rithm Capital had a net margin of 20.61% and a return on equity of 14.96%. The firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $880.65 million. During the same period last year, the company posted $0.31 EPS. The company’s quarterly revenue was up 32.5% compared to the same quarter last year. Equities analysts predict that Rithm Capital Corp. will post 1.64 EPS for the current year.
Rithm Capital Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, July 28th. Investors of record on Monday, July 3rd were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, June 30th. This represents a $1.00 dividend on an annualized basis and a yield of 9.83%. Rithm Capital’s dividend payout ratio (DPR) is currently 76.34%.
About Rithm Capital
Rithm Capital Corp. operates as an investment manager that operates a vertically integrated mortgage platform and invests in real estate and related properties in the United States and Europe. The company provides capital and services to the real estate and financial services sectors. Its investment portfolio comprises mortgage servicing related assets, residential securities and loans, and single-family rental loans.
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