Maryland State Retirement & Pension System Has $278,000 Stake in Rithm Capital Corp. $RITM

Maryland State Retirement & Pension System lessened its position in shares of Rithm Capital Corp. (NYSE:RITM) by 12.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 24,271 shares of the real estate investment trust’s stock after selling 3,304 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Rithm Capital were worth $278,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors also recently modified their holdings of the company. Sheaff Brock Investment Advisors LLC grew its holdings in shares of Rithm Capital by 8.8% during the 1st quarter. Sheaff Brock Investment Advisors LLC now owns 11,725 shares of the real estate investment trust’s stock worth $134,000 after purchasing an additional 945 shares in the last quarter. Private Advisor Group LLC lifted its position in shares of Rithm Capital by 2.0% during the 1st quarter. Private Advisor Group LLC now owns 50,461 shares of the real estate investment trust’s stock worth $578,000 after buying an additional 974 shares during the period. Fourth Dimension Wealth LLC lifted its position in shares of Rithm Capital by 50.0% during the 1st quarter. Fourth Dimension Wealth LLC now owns 3,000 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 1,000 shares during the period. Vident Advisory LLC lifted its position in shares of Rithm Capital by 7.3% during the 4th quarter. Vident Advisory LLC now owns 15,509 shares of the real estate investment trust’s stock worth $168,000 after buying an additional 1,051 shares during the period. Finally, Sowell Financial Services LLC lifted its position in shares of Rithm Capital by 3.2% during the 1st quarter. Sowell Financial Services LLC now owns 35,680 shares of the real estate investment trust’s stock worth $409,000 after buying an additional 1,108 shares during the period. Institutional investors and hedge funds own 44.92% of the company’s stock.

Analysts Set New Price Targets

RITM has been the subject of several research analyst reports. Royal Bank Of Canada lifted their price objective on Rithm Capital from $13.00 to $14.00 and gave the company an “outperform” rating in a research report on Friday, August 1st. Jones Trading lifted their price objective on Rithm Capital from $12.50 to $13.50 and gave the company a “buy” rating in a research report on Tuesday, July 29th. UBS Group reiterated a “buy” rating and issued a $14.00 price objective (up previously from $13.00) on shares of Rithm Capital in a research report on Tuesday, July 15th. Keefe, Bruyette & Woods lifted their price objective on Rithm Capital from $13.50 to $14.00 and gave the company an “outperform” rating in a research report on Tuesday, July 29th. Finally, Piper Sandler upgraded Rithm Capital from a “neutral” rating to an “overweight” rating and lifted their price objective for the company from $12.50 to $14.00 in a research report on Monday, April 28th. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Buy” and a consensus target price of $14.00.

Rithm Capital Trading Down 0.4%

RITM stock opened at $12.24 on Tuesday. The company has a market cap of $6.49 billion, a P/E ratio of 9.42 and a beta of 1.25. Rithm Capital Corp. has a twelve month low of $9.13 and a twelve month high of $12.59. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 1.63. The business has a fifty day moving average of $11.80 and a 200-day moving average of $11.46.

Rithm Capital (NYSE:RITM) last released its earnings results on Monday, July 28th. The real estate investment trust reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.03. The company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.18 billion. Rithm Capital had a return on equity of 18.89% and a net margin of 16.72%. As a group, equities research analysts expect that Rithm Capital Corp. will post 1.93 EPS for the current year.

Rithm Capital Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Stockholders 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 dividend yield of 8.2%. Rithm Capital’s payout ratio is presently 76.92%.

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.