Janney Montgomery Scott LLC Increases Stake in Rithm Capital Corp. $RITM

Janney Montgomery Scott LLC boosted its stake in shares of Rithm Capital Corp. (NYSE:RITM) by 5.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 103,607 shares of the real estate investment trust’s stock after acquiring an additional 5,278 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Rithm Capital were worth $1,170,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Kingstone Capital Partners Texas LLC purchased a new position in Rithm Capital during the second quarter valued at approximately $96,027,000. KBC Group NV raised its position in Rithm Capital by 24.0% during the first quarter. KBC Group NV now owns 22,846 shares of the real estate investment trust’s stock valued at $262,000 after acquiring an additional 4,423 shares in the last quarter. Belpointe Asset Management LLC raised its position in Rithm Capital by 84.2% during the first quarter. Belpointe Asset Management LLC now owns 54,520 shares of the real estate investment trust’s stock valued at $624,000 after acquiring an additional 24,920 shares in the last quarter. Edgestream Partners L.P. raised its position in Rithm Capital by 341.5% during the first quarter. Edgestream Partners L.P. now owns 688,882 shares of the real estate investment trust’s stock valued at $7,888,000 after acquiring an additional 532,866 shares in the last quarter. Finally, Amalgamated Bank raised its position in Rithm Capital by 5.9% during the first quarter. Amalgamated Bank now owns 27,064 shares of the real estate investment trust’s stock valued at $310,000 after acquiring an additional 1,502 shares in the last quarter. 44.92% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on RITM shares. BTIG Research reissued a “buy” rating and issued a $16.00 price objective on shares of Rithm Capital in a report on Wednesday, September 17th. Royal Bank Of Canada increased their target price 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 increased their target price on Rithm Capital from $12.50 to $13.50 and gave the company a “buy” rating in a research report on Tuesday, July 29th. Wedbush reiterated an “outperform” rating and set a $14.00 target price on shares of Rithm Capital in a research report on Wednesday, August 6th. Finally, UBS Group increased their target price on Rithm Capital from $14.00 to $16.00 and gave the company a “buy” rating in a research report on Wednesday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating and nine have given a Buy rating to the stock. Based on data from MarketBeat.com, Rithm Capital has a consensus rating of “Buy” and a consensus price target of $14.25.

Rithm Capital Stock Performance

Shares of Rithm Capital stock opened at $10.77 on Tuesday. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.40 and a quick ratio of 0.40. The stock has a market capitalization of $5.71 billion, a price-to-earnings ratio of 8.28 and a beta of 1.31. The business has a 50-day moving average of $12.00 and a 200 day moving average of $11.50. Rithm Capital Corp. has a 12 month low of $9.13 and a 12 month high of $12.74.

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

Rithm Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Wednesday, October 1st will be paid a dividend of $0.25 per share. The ex-dividend date is Wednesday, October 1st. This represents a $1.00 annualized dividend and a yield of 9.3%. Rithm Capital’s payout ratio is presently 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.