Cubist Systematic Strategies LLC Acquires Shares of 208,438 Rithm Capital Corp. (NYSE:RITM)

Cubist Systematic Strategies LLC acquired a new stake in shares of Rithm Capital Corp. (NYSE:RITM) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 208,438 shares of the real estate investment trust’s stock, valued at approximately $2,274,000.

Several other hedge funds and other institutional investors have also made changes to their positions in RITM. Bessemer Group Inc. bought a new position in shares of Rithm Capital during the 1st quarter valued at about $30,000. Raleigh Capital Management Inc. boosted its holdings in shares of Rithm Capital by 125.4% during the 4th quarter. Raleigh Capital Management Inc. now owns 2,986 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 1,661 shares during the last quarter. Abich Financial Wealth Management LLC lifted its holdings in shares of Rithm Capital by 56.8% in the 1st quarter. Abich Financial Wealth Management LLC now owns 4,031 shares of the real estate investment trust’s stock valued at $45,000 after acquiring an additional 1,461 shares during the last quarter. Fidelis Capital Partners LLC bought a new position in shares of Rithm Capital in the 1st quarter valued at about $62,000. Finally, Future Financial Wealth Managment LLC bought a new position in shares of Rithm Capital in the 1st quarter valued at about $71,000. Institutional investors own 44.92% of the company’s stock.

Rithm Capital Stock Performance

Rithm Capital stock opened at $11.32 on Monday. The firm has a market capitalization of $5.47 billion, a P/E ratio of 7.55 and a beta of 1.80. The company’s 50-day moving average is $11.49 and its 200 day moving average is $11.21. Rithm Capital Corp. has a 1-year low of $8.87 and a 1-year high of $12.02. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.49 and a quick ratio of 0.49.

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

Rithm Capital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Tuesday, October 1st will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 8.83%. The ex-dividend date is Tuesday, October 1st. Rithm Capital’s dividend payout ratio is presently 66.67%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. JMP Securities increased their price target on shares of Rithm Capital from $11.00 to $12.50 and gave the company a “market outperform” rating in a report on Friday, July 19th. Wedbush reaffirmed an “outperform” rating and issued a $13.00 price target on shares of Rithm Capital in a report on Friday, August 16th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $13.00 price target on shares of Rithm Capital in a report on Tuesday, August 13th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, Rithm Capital has a consensus rating of “Moderate Buy” and an average price target of $12.60.

Rithm Capital 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.