AIA Group Ltd Buys 151,733 Shares of Rithm Capital Corp. $RITM

AIA Group Ltd increased its stake in Rithm Capital Corp. (NYSE:RITM) by 86.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 326,436 shares of the real estate investment trust’s stock after acquiring an additional 151,733 shares during the period. AIA Group Ltd owned about 0.06% of Rithm Capital worth $3,718,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in RITM. Bessemer Group Inc. raised its holdings in shares of Rithm Capital by 658.9% during the 3rd quarter. Bessemer Group Inc. now owns 2,656 shares of the real estate investment trust’s stock valued at $30,000 after buying an additional 2,306 shares in the last quarter. Atlantic Union Bankshares Corp purchased a new stake in Rithm Capital in the third quarter worth approximately $31,000. Mather Group LLC. bought a new position in Rithm Capital during the third quarter valued at approximately $33,000. Optimum Investment Advisors grew its position in Rithm Capital by 200.0% during the third quarter. Optimum Investment Advisors now owns 3,000 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 2,000 shares during the last quarter. Finally, Advisory Services Network LLC purchased a new position in shares of Rithm Capital during the third quarter worth approximately $43,000. Institutional investors own 44.92% of the company’s stock.

Analyst Upgrades and Downgrades

RITM has been the subject of a number of recent research reports. Keefe, Bruyette & Woods restated an “outperform” rating on shares of Rithm Capital in a report on Thursday, December 18th. Piper Sandler reaffirmed an “overweight” rating and set a $15.00 target price (down from $15.50) on shares of Rithm Capital in a report on Wednesday, February 4th. Wall Street Zen upgraded shares of Rithm Capital from a “hold” rating to a “buy” rating in a research report on Saturday, March 7th. UBS Group set a $15.00 price target on shares of Rithm Capital in a research note on Friday, February 6th. Finally, Wedbush initiated coverage on shares of Rithm Capital in a research report on Monday, December 15th. They set an “outperform” rating and a $14.00 price target for the company. Seven analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $14.50.

Rithm Capital Trading Down 0.4%

Shares of RITM opened at $9.03 on Friday. The stock has a market capitalization of $5.02 billion, a P/E ratio of 8.68 and a beta of 1.21. Rithm Capital Corp. has a twelve month low of $8.97 and a twelve month high of $12.74. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 2.20. The firm has a fifty day simple moving average of $10.63 and a two-hundred day simple moving average of $11.08.

Rithm Capital (NYSE:RITM) last released its quarterly earnings data on Tuesday, February 3rd. The real estate investment trust reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.19. The firm had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.24 billion. Rithm Capital had a net margin of 15.55% and a return on equity of 19.74%. On average, research analysts anticipate that Rithm Capital Corp. will post 1.93 EPS for the current year.

Rithm Capital Profile

Rithm Capital Corporation is a specialty finance company that originates, acquires and manages structured credit investments collateralized by real estate assets in the United States. The company focuses primarily on senior floating-rate loans secured by multifamily, commercial, industrial and single-family rental properties, aiming to deliver attractive risk-adjusted yields through a diversified portfolio of floating-rate real estate debt.

In addition to senior loans, Rithm Capital invests in residential mortgage-backed securities, including agency and non-agency pools, as well as other real estate-related credit instruments.