US Bancorp DE Increases Stock Holdings in Rithm Capital Corp. (NYSE:RITM)

US Bancorp DE increased its stake in Rithm Capital Corp. (NYSE:RITM) by 13.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 36,812 shares of the real estate investment trust’s stock after purchasing an additional 4,354 shares during the period. US Bancorp DE’s holdings in Rithm Capital were worth $421,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Fourth Dimension Wealth LLC lifted its stake in Rithm Capital by 50.0% in the first quarter. Fourth Dimension Wealth LLC now owns 3,000 shares of the real estate investment trust’s stock worth $34,000 after acquiring an additional 1,000 shares during the period. Quarry LP lifted its stake in Rithm Capital by 47.5% in the fourth quarter. Quarry LP now owns 4,118 shares of the real estate investment trust’s stock worth $45,000 after acquiring an additional 1,327 shares during the period. Quent Capital LLC lifted its stake in Rithm Capital by 58.6% in the first quarter. Quent Capital LLC now owns 5,465 shares of the real estate investment trust’s stock worth $63,000 after acquiring an additional 2,019 shares during the period. CWM LLC lifted its stake in Rithm Capital by 25.5% in the first quarter. CWM LLC now owns 6,046 shares of the real estate investment trust’s stock worth $69,000 after acquiring an additional 1,228 shares during the period. Finally, Rossby Financial LCC purchased a new stake in Rithm Capital in the first quarter worth $79,000. 44.92% of the stock is currently owned by institutional investors.

Rithm Capital Trading Up 0.6%

Rithm Capital stock opened at $12.32 on Wednesday. Rithm Capital Corp. has a one year low of $9.13 and a one year high of $12.59. The stock has a market cap of $6.53 billion, a PE ratio of 9.48 and a beta of 1.25. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.40 and a current ratio of 0.40. The stock has a 50-day moving average of $11.72 and a two-hundred day moving average of $11.44.

Rithm Capital (NYSE:RITM) last posted its earnings results on Monday, July 28th. The real estate investment trust reported $0.54 EPS for the quarter, topping the consensus estimate of $0.51 by $0.03. Rithm Capital had a return on equity of 18.89% and a net margin of 16.72%. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.18 billion. On average, research analysts anticipate that Rithm Capital Corp. will post 1.93 EPS for the current fiscal year.

Rithm Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, June 30th were given a dividend of $0.25 per share. The ex-dividend date was Monday, June 30th. This represents a $1.00 dividend on an annualized basis and a yield of 8.1%. Rithm Capital’s dividend payout ratio (DPR) is presently 76.92%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on RITM shares. Piper Sandler upgraded shares of Rithm Capital from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $12.50 to $14.00 in a research note on Monday, April 28th. BTIG Research reissued a “buy” rating and set a $16.00 price target on shares of Rithm Capital in a research report on Friday, April 25th. Wedbush reissued an “outperform” rating and set a $14.00 price target on shares of Rithm Capital in a research report on Wednesday, August 6th. Jones Trading lifted their price target on shares of Rithm Capital from $12.50 to $13.50 and gave the company a “buy” rating in a research report on Tuesday, July 29th. Finally, Royal Bank Of Canada lifted their price target on shares of Rithm Capital from $13.00 to $14.00 and gave the company an “outperform” rating in a research report on Friday, August 1st. Eight equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Rithm Capital currently has a consensus rating of “Buy” and an average price target of $14.00.

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.