Rithm Capital Corp. (NYSE:RITM) Shares Acquired by AQR Capital Management LLC

AQR Capital Management LLC lifted its holdings in shares of Rithm Capital Corp. (NYSE:RITM) by 4.1% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 29,848 shares of the real estate investment trust’s stock after purchasing an additional 1,183 shares during the quarter. AQR Capital Management LLC’s holdings in Rithm Capital were worth $326,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in RITM. Bessemer Group Inc. acquired a new position in Rithm Capital in the first quarter valued at $30,000. Abich Financial Wealth Management LLC boosted its holdings in Rithm Capital by 56.8% in the first quarter. Abich Financial Wealth Management LLC now owns 4,031 shares of the real estate investment trust’s stock valued at $45,000 after acquiring an additional 1,461 shares during the last quarter. Fidelis Capital Partners LLC acquired a new position in Rithm Capital in the first quarter valued at $62,000. Future Financial Wealth Managment LLC acquired a new position in Rithm Capital in the first quarter valued at $71,000. Finally, Summit Securities Group LLC acquired a new position in Rithm Capital in the second quarter valued at $74,000. Institutional investors and hedge funds own 44.92% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have commented on the company. JMP Securities boosted their price objective on Rithm Capital from $11.00 to $12.50 and gave the stock a “market outperform” rating in a research note on Friday, July 19th. Royal Bank of Canada restated an “outperform” rating and set a $13.00 price objective on shares of Rithm Capital in a research note on Tuesday, August 13th. Finally, Wedbush restated an “outperform” rating and set a $13.00 price objective on shares of Rithm Capital in a research note on Friday, August 16th. One 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 a consensus rating of “Moderate Buy” and a consensus target price of $12.67.

Rithm Capital Stock Up 0.4 %

Shares of NYSE RITM opened at $10.89 on Thursday. Rithm Capital Corp. has a 1 year low of $8.87 and a 1 year high of $12.02. The firm has a market cap of $5.27 billion, a price-to-earnings ratio of 7.26 and a beta of 1.80. 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 stock’s 50-day simple moving average is $11.36 and its 200-day simple moving average is $11.19.

Rithm Capital (NYSE:RITM) last announced 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 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 company’s revenue for the quarter was up 18.4% compared to the same quarter last year. During the same period in the previous year, the company earned $0.62 earnings per share. As a group, equities analysts anticipate that Rithm Capital Corp. will post 1.82 earnings per share for the current fiscal year.

Rithm Capital Announces Dividend

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 issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 9.18%. The ex-dividend date of this dividend is Tuesday, October 1st. Rithm Capital’s dividend payout ratio is currently 66.67%.

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.