Rithm Capital Corp. (NYSE:RITM) Shares Bought by Founders Financial Alliance LLC

Founders Financial Alliance LLC raised its stake in Rithm Capital Corp. (NYSE:RITM) by 2.6% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 50,942 shares of the real estate investment trust’s stock after purchasing an additional 1,286 shares during the quarter. Founders Financial Alliance LLC’s holdings in Rithm Capital were worth $556,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Nomura Asset Management Co. Ltd. raised its stake in shares of Rithm Capital by 15.2% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 9,100 shares of the real estate investment trust’s stock valued at $97,000 after acquiring an additional 1,200 shares during the period. Allianz Asset Management GmbH raised its stake in shares of Rithm Capital by 107.7% in the 4th quarter. Allianz Asset Management GmbH now owns 1,171,379 shares of the real estate investment trust’s stock valued at $12,510,000 after acquiring an additional 607,413 shares during the period. Treasurer of the State of North Carolina increased its stake in Rithm Capital by 4.2% during the 4th quarter. Treasurer of the State of North Carolina now owns 220,466 shares of the real estate investment trust’s stock worth $2,355,000 after buying an additional 8,889 shares during the period. Cibc World Markets Corp increased its stake in Rithm Capital by 69.1% during the 4th quarter. Cibc World Markets Corp now owns 872,758 shares of the real estate investment trust’s stock worth $9,321,000 after buying an additional 356,758 shares during the period. Finally, Waterloo Capital L.P. purchased a new stake in Rithm Capital during the 4th quarter worth $3,262,000. Institutional investors and hedge funds own 44.92% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on RITM shares. JMP Securities lifted their price target on shares of Rithm Capital from $11.00 to $12.50 and gave the stock a “market outperform” rating in a research note on Friday, July 19th. Wedbush reaffirmed an “outperform” rating and set a $13.00 price target on shares of Rithm Capital in a research note on Friday, August 16th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $13.00 price target on shares of Rithm Capital in a research note on Tuesday, August 13th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $12.60.

Rithm Capital Trading Up 0.2 %

NYSE RITM opened at $11.35 on Tuesday. Rithm Capital Corp. has a one year low of $8.87 and a one year high of $12.02. The company has a 50-day simple moving average of $11.49 and a 200-day simple moving average of $11.21. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.49 and a current ratio of 0.49. The firm has a market capitalization of $5.49 billion, a PE ratio of 7.56 and a beta of 1.80.

Rithm Capital (NYSE:RITM) last posted its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported $0.47 EPS for the quarter, beating the consensus estimate of $0.42 by $0.05. Rithm Capital had a net margin of 15.55% and a return on equity of 18.04%. The business had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.15 billion. During the same period in the previous year, the business posted $0.62 EPS. The company’s quarterly revenue was up 18.4% on a year-over-year basis. On average, equities analysts forecast that Rithm Capital Corp. will post 1.82 earnings per share for the current year.

Rithm Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Tuesday, October 1st will be given a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $1.00 annualized dividend and a yield of 8.81%. Rithm Capital’s dividend payout ratio is presently 66.67%.

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.