2,661 Shares in Rithm Capital Corp. $RITM Bought by Cullen Frost Bankers Inc.

Cullen Frost Bankers Inc. acquired a new position in Rithm Capital Corp. (NYSE:RITM) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 2,661 shares of the real estate investment trust’s stock, valued at approximately $30,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Geneos Wealth Management Inc. raised its position in shares of Rithm Capital by 14.3% in the first quarter. Geneos Wealth Management Inc. now owns 7,031 shares of the real estate investment trust’s stock worth $81,000 after buying an additional 881 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Rithm Capital by 19.1% in the second quarter. GAMMA Investing LLC now owns 5,528 shares of the real estate investment trust’s stock worth $62,000 after buying an additional 887 shares in the last quarter. Sheaff Brock Investment Advisors LLC raised its position in shares of Rithm Capital by 8.8% in the first quarter. Sheaff Brock Investment Advisors LLC now owns 11,725 shares of the real estate investment trust’s stock worth $134,000 after buying an additional 945 shares in the last quarter. Private Advisor Group LLC raised its position in shares of Rithm Capital by 2.0% in the first 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 in the last quarter. Finally, Townsquare Capital LLC raised its position in shares of Rithm Capital by 3.7% in the first quarter. Townsquare Capital LLC now owns 30,439 shares of the real estate investment trust’s stock worth $349,000 after buying an additional 1,088 shares in the last quarter. Hedge funds and other institutional investors own 44.92% of the company’s stock.

Rithm Capital Stock Up 0.7%

Shares of NYSE:RITM opened at $10.94 on Tuesday. The stock’s 50-day moving average price is $11.72 and its 200-day moving average price is $11.52. Rithm Capital Corp. has a 12-month low of $9.13 and a 12-month high of $12.74. The stock has a market capitalization of $5.80 billion, a P/E ratio of 8.41 and a beta of 1.31. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 1.63.

Rithm Capital (NYSE:RITM) last announced its quarterly earnings data 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. 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 analysts’ expectations of $1.18 billion. On average, equities analysts anticipate that Rithm Capital Corp. will post 1.93 earnings per share for the current year.

Rithm Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Wednesday, October 1st will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.1%. The ex-dividend date of this dividend is Wednesday, October 1st. Rithm Capital’s dividend payout ratio (DPR) is 76.92%.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. BTIG Research restated a “buy” rating and set a $16.00 price target on shares of Rithm Capital in a research report on Wednesday, September 17th. Keefe, Bruyette & Woods raised their price target on Rithm Capital from $13.50 to $14.00 and gave the company an “outperform” rating in a research report on Tuesday, July 29th. Royal Bank Of Canada raised their price target 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 raised their price target on Rithm Capital from $12.50 to $13.50 and gave the company a “buy” rating in a research report on Tuesday, July 29th. Finally, Wedbush restated an “outperform” rating and set a $14.00 price target on shares of Rithm Capital in a research report on Wednesday, August 6th. One analyst has rated the stock with a Strong Buy rating and nine have assigned a Buy rating to the stock. Based on data from MarketBeat, Rithm Capital has a consensus rating of “Buy” and an average price target of $14.25.

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.