Public Employees Retirement System of Ohio Has $1.85 Million Stake in Rithm Capital Corp. $RITM

Public Employees Retirement System of Ohio increased its stake in Rithm Capital Corp. (NYSE:RITM) by 2.9% in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 164,254 shares of the real estate investment trust’s stock after purchasing an additional 4,597 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Rithm Capital were worth $1,854,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Norden Group LLC lifted its holdings in Rithm Capital by 10.1% in the 2nd quarter. Norden Group LLC now owns 24,021 shares of the real estate investment trust’s stock worth $271,000 after purchasing an additional 2,212 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Rithm Capital by 19.1% in the 2nd quarter. GAMMA Investing LLC now owns 5,528 shares of the real estate investment trust’s stock worth $62,000 after purchasing an additional 887 shares during the last quarter. Park Avenue Securities LLC acquired a new stake in Rithm Capital in the 2nd quarter worth approximately $134,000. Annex Advisory Services LLC acquired a new stake in Rithm Capital in the 2nd quarter worth approximately $288,000. Finally, Farther Finance Advisors LLC increased its position in Rithm Capital by 185.5% in the 2nd quarter. Farther Finance Advisors LLC now owns 13,459 shares of the real estate investment trust’s stock worth $152,000 after buying an additional 8,745 shares during the period. 44.92% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have commented on RITM. Wedbush reaffirmed an “outperform” rating and issued 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 Rithm Capital from $12.50 to $13.50 and gave the stock a “buy” rating in a research report on Tuesday, July 29th. Keefe, Bruyette & Woods lifted their price target on Rithm Capital from $13.50 to $14.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 29th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Rithm Capital in a research report on Saturday, September 27th. Finally, BTIG Research reaffirmed a “buy” rating and issued a $16.00 price target on shares of Rithm Capital in a research report on Wednesday, September 17th. One research analyst has rated the stock with a Strong Buy rating and nine have given a Buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $14.25.

Rithm Capital Price Performance

Rithm Capital stock opened at $11.15 on Friday. 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 firm has a market cap of $5.91 billion, a P/E ratio of 8.57 and a beta of 1.31. The business’s fifty day moving average is $12.16 and its two-hundred day moving average is $11.54. Rithm Capital Corp. has a 52 week low of $9.13 and a 52 week high of $12.74.

Rithm Capital (NYSE:RITM) last issued its quarterly earnings results on Monday, July 28th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, beating 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 business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.18 billion. Equities research analysts forecast that Rithm Capital Corp. will post 1.93 earnings per share for the current fiscal year.

Rithm Capital Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Wednesday, October 1st will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 9.0%. The ex-dividend date is Wednesday, October 1st. Rithm Capital’s dividend payout ratio is 76.92%.

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.