Rithm Capital Corp. (NYSE:RITM) Holdings Lifted by Victory Capital Management Inc.

Victory Capital Management Inc. grew its position in Rithm Capital Corp. (NYSE:RITM) by 16.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 147,818 shares of the real estate investment trust’s stock after purchasing an additional 20,779 shares during the period. Victory Capital Management Inc.’s holdings in Rithm Capital were worth $1,382,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in RITM. National Bank of Canada FI bought a new position in shares of Rithm Capital in the first quarter valued at approximately $34,000. Lazard Asset Management LLC bought a new position in shares of Rithm Capital in the fourth quarter valued at approximately $34,000. American International Group Inc. bought a new position in shares of Rithm Capital in the fourth quarter valued at approximately $36,000. Advisory Services Network LLC boosted its holdings in shares of Rithm Capital by 55.5% in the first quarter. Advisory Services Network LLC now owns 4,929 shares of the real estate investment trust’s stock valued at $39,000 after acquiring an additional 1,760 shares in the last quarter. Finally, Kathleen S. Wright Associates Inc. acquired a new stake in Rithm Capital during the second quarter valued at approximately $42,000. 44.58% of the stock is currently owned by institutional investors.

Rithm Capital Stock Down 0.5 %

Shares of NYSE:RITM opened at $9.14 on Monday. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.66 and a current ratio of 0.66. The company has a market cap of $4.42 billion, a PE ratio of 6.30 and a beta of 1.81. Rithm Capital Corp. has a 52 week low of $7.40 and a 52 week high of $10.45. The firm has a 50 day simple moving average of $9.63 and a 200 day simple moving average of $9.19.

Rithm Capital (NYSE:RITM) last released its earnings results on Thursday, October 26th. The real estate investment trust reported $0.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.34 by $0.24. Rithm Capital had a net margin of 21.51% and a return on equity of 17.17%. The company had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $922.90 million. During the same quarter in the prior year, the firm earned $0.32 EPS. The company’s revenue was up 4.9% compared to the same quarter last year. As a group, research analysts expect that Rithm Capital Corp. will post 1.64 earnings per share for the current year.

Rithm Capital Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, October 27th. Shareholders of record on Friday, September 29th were given a $0.25 dividend. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $1.00 dividend on an annualized basis and a yield of 10.94%. Rithm Capital’s payout ratio is 68.97%.

Wall Street Analyst Weigh In

Several research firms recently commented on RITM. Wedbush reissued an “outperform” rating and set a $12.00 target price on shares of Rithm Capital in a research note on Thursday, August 3rd. Jonestrading raised shares of Rithm Capital from a “hold” rating to a “buy” rating and set a $11.00 target price for the company in a research note on Friday. JMP Securities increased their target price on shares of Rithm Capital from $10.00 to $10.50 and gave the company an “outperform” rating in a research note on Friday, July 21st. Compass Point increased their target price on shares of Rithm Capital from $11.00 to $12.00 in a research note on Monday, October 2nd. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $12.00 price target on shares of Rithm Capital in a research report on Friday, August 18th. Six research analysts have rated the stock with a buy rating, According to MarketBeat.com, Rithm Capital has an average rating of “Buy” and a consensus price target of $11.50.

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.