Victory Capital Management Inc. Has $2.26 Million Position in Rithm Capital Corp. (NYSE:RITM)

Victory Capital Management Inc. increased its position in shares of Rithm Capital Corp. (NYSE:RITM) by 10.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 199,333 shares of the real estate investment trust’s stock after acquiring an additional 19,596 shares during the quarter. Victory Capital Management Inc.’s holdings in Rithm Capital were worth $2,262,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in RITM. Van ECK Associates Corp boosted its stake in Rithm Capital by 20.7% in the 3rd quarter. Van ECK Associates Corp now owns 2,004,057 shares of the real estate investment trust’s stock worth $21,163,000 after purchasing an additional 343,678 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of 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 valued at $19,128,000 after purchasing an additional 158,857 shares during the last quarter. Mackenzie Financial Corp boosted its holdings in Rithm Capital by 15.5% during the second quarter. Mackenzie Financial Corp now owns 1,319,014 shares of the real estate investment trust’s stock worth $14,390,000 after purchasing an additional 176,711 shares during the last quarter. Seven Grand Managers LLC acquired a new stake in Rithm Capital in the 3rd quarter valued at $11,918,000. Finally, Sei Investments Co. lifted its position in Rithm Capital by 61.2% during the 2nd quarter. Sei Investments Co. now owns 637,446 shares of the real estate investment trust’s stock worth $6,955,000 after buying an additional 242,062 shares in the last quarter. Institutional investors own 44.92% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $13.00 target price on shares of Rithm Capital in a research report on Thursday. Wedbush reissued an “outperform” rating and issued a $14.00 price objective on shares of Rithm Capital in a report on Thursday, November 7th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.78.

Rithm Capital Price Performance

Shares of RITM opened at $10.98 on Monday. The firm has a market capitalization of $5.71 billion, a PE ratio of 11.09 and a beta of 1.80. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.35 and a quick ratio of 1.35. The company’s 50-day moving average is $10.90 and its 200-day moving average is $11.13. Rithm Capital Corp. has a fifty-two week low of $9.97 and a fifty-two week high of $12.02.

Rithm Capital (NYSE:RITM) last issued its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.12. The company had revenue of $619.51 million during the quarter, compared to analysts’ expectations of $1.11 billion. Rithm Capital had a return on equity of 17.54% and a net margin of 14.99%. During the same quarter in the previous year, the company posted $0.58 earnings per share. Equities analysts forecast that Rithm Capital Corp. will post 1.89 EPS for the current year.

Rithm Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Tuesday, October 1st were paid a $0.25 dividend. The ex-dividend date was Tuesday, October 1st. This represents a $1.00 annualized dividend and a dividend yield of 9.11%. Rithm Capital’s dividend payout ratio (DPR) is presently 101.01%.

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.