Choreo LLC Invests $395,000 in Rithm Capital Corp. (NYSE:RITM)

Choreo LLC purchased a new position in Rithm Capital Corp. (NYSE:RITM) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 37,298 shares of the real estate investment trust’s stock, valued at approximately $395,000.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Rithm Capital by 0.8% in the first quarter. Vanguard Group Inc. now owns 45,815,852 shares of the real estate investment trust’s stock worth $511,305,000 after purchasing an additional 378,931 shares in the last quarter. Norges Bank acquired a new stake in shares of Rithm Capital in the fourth quarter valued at $63,896,000. Long Pond Capital LP acquired a new stake in shares of Rithm Capital in the first quarter valued at $53,025,000. BlueCrest Capital Management Ltd lifted its holdings in shares of Rithm Capital by 1.0% in the first quarter. BlueCrest Capital Management Ltd now owns 2,134,661 shares of the real estate investment trust’s stock valued at $23,823,000 after buying an additional 21,424 shares during the period. Finally, Wellington Management Group LLP lifted its holdings in shares of Rithm Capital by 3.9% in the fourth quarter. Wellington Management Group LLP now owns 2,106,184 shares of the real estate investment trust’s stock valued at $22,494,000 after buying an additional 78,838 shares during the period. Institutional investors own 44.92% of the company’s stock.

Rithm Capital Stock Performance

Shares of NYSE RITM opened at $11.91 on Tuesday. 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 cap of $5.76 billion, a price-to-earnings ratio of 7.94 and a beta of 1.80. The business’s 50-day simple moving average is $11.42 and its 200-day simple moving average is $11.17. Rithm Capital Corp. has a 52 week low of $8.87 and a 52 week high of $11.95.

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

Wall Street Analysts Forecast Growth

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

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.