M&T Bank Corp Has $263,000 Stock Position in Rithm Capital Corp. (NYSE:RITM)

M&T Bank Corp lifted its stake in shares of Rithm Capital Corp. (NYSE:RITM) by 42.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 22,973 shares of the real estate investment trust’s stock after purchasing an additional 6,832 shares during the quarter. M&T Bank Corp’s holdings in Rithm Capital were worth $263,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. 1620 Investment Advisors Inc. grew its stake in Rithm Capital by 2.1% in the fourth quarter. 1620 Investment Advisors Inc. now owns 46,035 shares of the real estate investment trust’s stock valued at $499,000 after acquiring an additional 960 shares during the period. Fourth Dimension Wealth LLC boosted its position in shares of Rithm Capital by 50.0% during the first quarter. Fourth Dimension Wealth LLC now owns 3,000 shares of the real estate investment trust’s stock valued at $34,000 after buying an additional 1,000 shares during the last quarter. Vident Advisory LLC boosted its position in shares of Rithm Capital by 7.3% during the fourth quarter. Vident Advisory LLC now owns 15,509 shares of the real estate investment trust’s stock valued at $168,000 after buying an additional 1,051 shares during the last quarter. Sowell Financial Services LLC boosted its position in shares of Rithm Capital by 3.2% during the first quarter. Sowell Financial Services LLC now owns 35,680 shares of the real estate investment trust’s stock valued at $409,000 after buying an additional 1,108 shares during the last quarter. Finally, Quadrant Capital Group LLC boosted its position in shares of Rithm Capital by 35.2% during the fourth quarter. Quadrant Capital Group LLC now owns 4,655 shares of the real estate investment trust’s stock valued at $50,000 after buying an additional 1,211 shares during the last quarter. 44.92% of the stock is owned by institutional investors and hedge funds.

Rithm Capital Trading Up 0.1%

Shares of Rithm Capital stock opened at $11.92 on Friday. The firm has a market capitalization of $6.32 billion, a PE ratio of 9.93 and a beta of 1.25. Rithm Capital Corp. has a twelve month low of $9.13 and a twelve month high of $12.20. The firm’s 50-day moving average price is $11.42 and its 200 day moving average price is $11.30. 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 (NYSE:RITM) last posted its earnings results on Friday, April 25th. The real estate investment trust reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.07. The firm had revenue of $28.89 million during the quarter, compared to the consensus estimate of $1.27 billion. Rithm Capital had a net margin of 15.06% and a return on equity of 18.38%. During the same quarter last year, the firm earned $0.48 EPS. On average, sell-side analysts predict that Rithm Capital Corp. will post 1.93 EPS for the current fiscal year.

Rithm Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.00 annualized dividend and a dividend yield of 8.39%. Rithm Capital’s dividend payout ratio is currently 83.33%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on RITM. UBS Group reaffirmed a “buy” rating and set a $14.00 price target (up previously from $13.00) on shares of Rithm Capital in a research report on Tuesday. Piper Sandler upgraded Rithm Capital from a “neutral” rating to an “overweight” rating and boosted their price objective for the company from $12.50 to $14.00 in a research note on Monday, April 28th. Wedbush reiterated an “outperform” rating and set a $14.00 price objective on shares of Rithm Capital in a research note on Monday, May 19th. Royal Bank Of Canada restated an “outperform” rating and issued a $13.00 target price on shares of Rithm Capital in a research note on Tuesday, May 20th. Finally, Jones Trading restated a “buy” rating and issued a $12.50 target price on shares of Rithm Capital in a research note on Tuesday, April 29th. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus price target of $13.69.

About Rithm Capital

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.