MQS Management LLC Makes New Investment in Rithm Capital Corp. (NYSE:RITM)

MQS Management LLC bought a new stake in Rithm Capital Corp. (NYSE:RITM) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 19,425 shares of the real estate investment trust’s stock, valued at approximately $212,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in RITM. Bessemer Group Inc. acquired a new position in Rithm Capital in the first quarter valued at approximately $30,000. Raleigh Capital Management Inc. lifted its stake in shares of Rithm Capital by 125.4% in the 4th quarter. Raleigh Capital Management Inc. now owns 2,986 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 1,661 shares during the period. Abich Financial Wealth Management LLC boosted its position in shares of Rithm Capital by 56.8% in the 1st quarter. Abich Financial Wealth Management LLC now owns 4,031 shares of the real estate investment trust’s stock worth $45,000 after purchasing an additional 1,461 shares during the last quarter. Fidelis Capital Partners LLC acquired a new stake in shares of Rithm Capital during the first quarter worth $62,000. Finally, Cape Investment Advisory Inc. bought a new stake in Rithm Capital in the fourth quarter valued at about $71,000. Institutional investors own 44.92% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Rithm Capital Stock Down 0.3 %

Rithm Capital stock opened at $11.88 on Friday. The company has a 50 day moving average of $11.49 and a 200-day moving average of $11.19. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 1.81. Rithm Capital Corp. has a twelve month low of $8.87 and a twelve month high of $12.02. The stock has a market capitalization of $5.74 billion, a PE ratio of 7.92 and a beta of 1.80.

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

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.