Sanctuary Advisors LLC Invests $173,000 in Rithm Capital Corp. (NYSE:RITM)

Sanctuary Advisors LLC purchased a new stake in Rithm Capital Corp. (NYSE:RITM) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 15,445 shares of the real estate investment trust’s stock, valued at approximately $173,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Long Pond Capital LP purchased a new position in Rithm Capital in the 1st quarter valued at $53,025,000. Vanguard Group Inc. increased its stake in shares of Rithm Capital by 0.8% during 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 acquiring an additional 378,931 shares during the period. Sei Investments Co. raised its holdings in Rithm Capital by 725.7% during the first quarter. Sei Investments Co. now owns 395,384 shares of the real estate investment trust’s stock worth $4,412,000 after purchasing an additional 347,499 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its holdings in Rithm Capital by 261.1% during the first quarter. CANADA LIFE ASSURANCE Co now owns 360,217 shares of the real estate investment trust’s stock worth $4,022,000 after purchasing an additional 260,454 shares in the last quarter. Finally, Cetera Investment Advisers lifted its position in Rithm Capital by 460.3% in the first quarter. Cetera Investment Advisers now owns 265,611 shares of the real estate investment trust’s stock valued at $2,964,000 after purchasing an additional 218,206 shares during the period. Hedge funds and other institutional investors own 44.92% of the company’s stock.

Rithm Capital Stock Up 0.1 %

Rithm Capital stock opened at $10.84 on Monday. Rithm Capital Corp. has a fifty-two week low of $8.87 and a fifty-two week high of $12.02. The firm has a market capitalization of $5.24 billion, a price-to-earnings ratio of 7.23 and a beta of 1.80. The stock’s fifty day moving average is $11.35 and its two-hundred day moving average is $11.19. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.49 and a current ratio of 0.49.

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 firm had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Rithm Capital had a net margin of 15.55% and a return on equity of 18.04%. The firm’s revenue was up 18.4% on a year-over-year basis. During the same period in the prior year, the company earned $0.62 EPS. Analysts predict that Rithm Capital Corp. will post 1.82 EPS for the current fiscal year.

Rithm Capital Dividend Announcement

The business 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 dividend of $0.25 per share. The ex-dividend date is Tuesday, October 1st. This represents a $1.00 annualized dividend and a dividend yield of 9.23%. Rithm Capital’s dividend payout ratio is currently 66.67%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on RITM shares. JMP Securities boosted their target price on Rithm Capital from $11.00 to $12.50 and gave the stock a “market outperform” rating in a research report on Friday, July 19th. Wedbush reiterated an “outperform” rating and issued a $13.00 price objective on shares of Rithm Capital in a research report on Friday, August 16th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $13.00 target price on shares of Rithm Capital in a report on Tuesday, August 13th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, Rithm Capital currently has an average rating of “Moderate Buy” and a consensus target price of $12.67.

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.