Rithm Capital Corp. (NYSE:RITM) Shares Acquired by Quarry LP

Quarry LP increased its holdings in shares of Rithm Capital Corp. (NYSE:RITM) by 387.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 9,316 shares of the real estate investment trust’s stock after acquiring an additional 7,404 shares during the quarter. Quarry LP’s holdings in Rithm Capital were worth $102,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of RITM. Long Pond Capital LP acquired a new stake in shares of Rithm Capital in the first quarter valued at approximately $53,025,000. MGO One Seven LLC increased its stake in shares of Rithm Capital by 4,525.1% in the 4th quarter. MGO One Seven LLC now owns 768,511 shares of the real estate investment trust’s stock worth $8,208,000 after acquiring an additional 751,895 shares during the last quarter. Vanguard Group Inc. grew its holdings in shares of Rithm Capital by 0.8% in the first quarter. Vanguard Group Inc. now owns 45,815,852 shares of the real estate investment trust’s stock valued at $511,305,000 after purchasing an additional 378,931 shares during the period. Cibc World Markets Corp grew its stake in shares of Rithm Capital by 69.1% in the 4th quarter. Cibc World Markets Corp now owns 872,758 shares of the real estate investment trust’s stock valued at $9,321,000 after buying an additional 356,758 shares during the period. Finally, Sei Investments Co. increased its holdings in shares of Rithm Capital by 725.7% during the 1st quarter. Sei Investments Co. now owns 395,384 shares of the real estate investment trust’s stock worth $4,412,000 after buying an additional 347,499 shares during the last quarter. Institutional investors and hedge funds own 44.92% of the company’s stock.

Analyst Upgrades and Downgrades

RITM has been the topic of a number of recent analyst reports. JMP Securities upped their price objective on Rithm Capital from $11.00 to $12.50 and gave the company a “market outperform” rating in a report on Friday, July 19th. Wedbush reiterated an “outperform” rating and set a $13.00 price target on shares of Rithm Capital in a report on Friday, August 16th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $13.00 price objective on shares of Rithm Capital in a research report on Tuesday, August 13th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Rithm Capital currently has an average rating of “Moderate Buy” and an average price target of $12.60.

Rithm Capital Stock Down 3.7 %

Shares of RITM opened at $10.93 on Wednesday. The company’s 50-day simple moving average is $11.48 and its 200-day simple moving average is $11.22. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.49 and a current ratio of 0.49. Rithm Capital Corp. has a 1 year low of $8.87 and a 1 year high of $12.02. The stock has a market capitalization of $5.28 billion, a PE ratio of 7.29 and a beta of 1.80.

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

Rithm Capital Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Tuesday, October 1st will be paid a $0.25 dividend. The ex-dividend date is Tuesday, October 1st. This represents a $1.00 dividend on an annualized basis and a yield of 9.15%. Rithm Capital’s dividend payout ratio is currently 66.67%.

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.