Amalgamated Bank Acquires 1,502 Shares of Rithm Capital Corp. (NYSE:RITM)

Amalgamated Bank boosted its holdings in shares of Rithm Capital Corp. (NYSE:RITM) by 5.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 27,064 shares of the real estate investment trust’s stock after acquiring an additional 1,502 shares during the quarter. Amalgamated Bank’s holdings in Rithm Capital were worth $310,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in RITM. US Bancorp DE raised its position in Rithm Capital by 3.7% during the fourth quarter. US Bancorp DE now owns 32,458 shares of the real estate investment trust’s stock valued at $352,000 after acquiring an additional 1,155 shares in the last quarter. Steward Partners Investment Advisory LLC raised its position in shares of Rithm Capital by 2.9% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 35,792 shares of the real estate investment trust’s stock valued at $388,000 after purchasing an additional 1,016 shares during the period. Victory Capital Management Inc. raised its position in shares of Rithm Capital by 19.5% in the fourth quarter. Victory Capital Management Inc. now owns 238,188 shares of the real estate investment trust’s stock valued at $2,580,000 after purchasing an additional 38,855 shares during the period. Proficio Capital Partners LLC bought a new position in shares of Rithm Capital in the fourth quarter valued at approximately $176,000. Finally, Raymond James Financial Inc. bought a new position in shares of Rithm Capital in the fourth quarter valued at approximately $7,572,000. Institutional investors own 44.92% of the company’s stock.

Rithm Capital Trading Down 0.7%

Shares of Rithm Capital stock opened at $11.67 on Friday. The company’s fifty day simple moving average is $11.37 and its 200-day simple moving average is $11.27. The company has a market cap of $6.19 billion, a price-to-earnings ratio of 9.73 and a beta of 1.25. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 1.68. Rithm Capital Corp. has a 1 year low of $9.13 and a 1 year high of $12.20.

Rithm Capital (NYSE:RITM) last posted its quarterly earnings results on Friday, April 25th. The real estate investment trust reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.07. Rithm Capital had a net margin of 15.06% and a return on equity of 18.38%. The firm had revenue of $28.89 million for the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter in the previous year, the company earned $0.48 earnings per share. As a group, sell-side analysts expect that Rithm Capital Corp. will post 1.93 EPS for the current year.

Rithm Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be paid a dividend of $0.25 per share. The ex-dividend date is Monday, June 30th. This represents a $1.00 dividend on an annualized basis and a yield of 8.57%. Rithm Capital’s dividend payout ratio is currently 83.33%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on RITM. Wedbush reissued an “outperform” rating and issued a $14.00 price target on shares of Rithm Capital in a research report on Monday, May 19th. Royal Bank Of Canada reissued an “outperform” rating and issued a $13.00 price target on shares of Rithm Capital in a research report on Tuesday, May 20th. Jones Trading reissued a “buy” rating and issued a $12.50 price target on shares of Rithm Capital in a research report on Tuesday, April 29th. BTIG Research reissued a “buy” rating and issued a $16.00 price target on shares of Rithm Capital in a research report on Friday, April 25th. Finally, UBS Group lowered their price objective on shares of Rithm Capital from $14.00 to $13.00 and set a “buy” rating on the stock in a research note on Wednesday, April 16th. Eight analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Rithm Capital presently has an average rating of “Buy” and a consensus target price of $13.56.

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.