Rithm Capital Corp. (NYSE:RITM) Shares Purchased by International Assets Investment Management LLC

International Assets Investment Management LLC grew its holdings in shares of Rithm Capital Corp. (NYSE:RITM) by 895.6% in the third quarter, according to its most recent filing with the SEC. The firm owned 167,617 shares of the real estate investment trust’s stock after acquiring an additional 150,782 shares during the quarter. International Assets Investment Management LLC’s holdings in Rithm Capital were worth $1,902,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Vanguard Group Inc. lifted its holdings in 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 during the period. Long Pond Capital LP bought a new position in shares of Rithm Capital in the first quarter valued at approximately $53,025,000. BlueCrest Capital Management Ltd raised its holdings in Rithm Capital by 1.0% during the first quarter. BlueCrest Capital Management Ltd now owns 2,134,661 shares of the real estate investment trust’s stock worth $23,823,000 after purchasing an additional 21,424 shares in the last quarter. Bank of New York Mellon Corp lifted its position in Rithm Capital by 10.0% in the second quarter. Bank of New York Mellon Corp now owns 1,753,224 shares of the real estate investment trust’s stock worth $19,128,000 after purchasing an additional 158,857 shares during the period. Finally, Mackenzie Financial Corp boosted its stake in Rithm Capital by 15.5% during the 2nd quarter. Mackenzie Financial Corp now owns 1,319,014 shares of the real estate investment trust’s stock valued at $14,390,000 after purchasing an additional 176,711 shares in the last quarter. Institutional investors own 44.92% of the company’s stock.

Rithm Capital Price Performance

RITM stock opened at $10.48 on Monday. Rithm Capital Corp. has a one year low of $9.61 and a one year high of $12.02. The firm has a 50-day moving average of $11.20 and a two-hundred day moving average of $11.18. The firm has a market capitalization of $5.06 billion, a PE ratio of 10.59 and a beta of 1.80. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 1.81.

Rithm Capital (NYSE:RITM) last issued its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.54 EPS for the quarter, beating the consensus estimate of $0.42 by $0.12. Rithm Capital had a net margin of 14.99% and a return on equity of 17.91%. The business had revenue of $619.51 million during the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the prior year, the firm earned $0.58 EPS. On average, analysts forecast that Rithm Capital Corp. will post 1.85 earnings per share for the current year.

Rithm Capital Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Tuesday, October 1st were given a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $1.00 annualized dividend and a dividend yield of 9.54%. Rithm Capital’s dividend payout ratio (DPR) is presently 101.01%.

Analysts Set New Price Targets

Several brokerages have recently weighed in on RITM. 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 reissued an “outperform” rating and issued a $13.00 price target on shares of Rithm Capital in a report on Friday, August 16th. Finally, JMP Securities lifted their price objective 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. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Rithm Capital has a consensus rating of “Moderate Buy” and a consensus price target of $12.67.

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.