Infrastructure Capital Advisors LLC lifted its position in shares of Rithm Capital Corp. (NYSE:RITM – Free Report) by 55.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 129,421 shares of the real estate investment trust’s stock after purchasing an additional 46,122 shares during the period. Infrastructure Capital Advisors LLC’s holdings in Rithm Capital were worth $1,035,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in RITM. JPMorgan Chase & Co. raised its position in Rithm Capital by 2.3% during the 1st quarter. JPMorgan Chase & Co. now owns 713,031 shares of the real estate investment trust’s stock worth $7,830,000 after purchasing an additional 16,278 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Rithm Capital by 24.5% in the first quarter. Bank of New York Mellon Corp now owns 1,880,926 shares of the real estate investment trust’s stock worth $20,650,000 after acquiring an additional 369,564 shares during the period. Roundview Capital LLC bought a new stake in Rithm Capital in the first quarter valued at approximately $165,000. US Bancorp DE increased its position in Rithm Capital by 79.1% during the 1st quarter. US Bancorp DE now owns 40,483 shares of the real estate investment trust’s stock valued at $444,000 after purchasing an additional 17,879 shares during the period. Finally, Cetera Advisor Networks LLC raised its holdings in Rithm Capital by 49.8% during the 1st quarter. Cetera Advisor Networks LLC now owns 20,101 shares of the real estate investment trust’s stock worth $221,000 after purchasing an additional 6,682 shares during the last quarter. 44.58% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several research firms have issued reports on RITM. Royal Bank of Canada restated an “outperform” rating and set a $12.00 price target on shares of Rithm Capital in a report on Friday, August 18th. Raymond James lifted their price objective on Rithm Capital from $11.50 to $12.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 30th. JMP Securities upped their target price on Rithm Capital from $10.00 to $10.50 and gave the company an “outperform” rating in a research report on Friday, July 21st. Wedbush restated an “outperform” rating and set a $12.00 target price on shares of Rithm Capital in a research report on Thursday, August 3rd. Finally, Piper Sandler upped their target price on Rithm Capital from $10.00 to $10.50 in a research report on Monday, August 7th. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $11.25.
Rithm Capital Stock Down 0.2 %
Shares of NYSE:RITM opened at $10.13 on Friday. The business’s 50 day simple moving average is $9.88 and its two-hundred day simple moving average is $8.90. The firm has a market cap of $4.90 billion, a P/E ratio of 7.73 and a beta of 1.81. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.66 and a current ratio of 0.66. Rithm Capital Corp. has a 52-week low of $6.86 and a 52-week high of $10.45.
Rithm Capital (NYSE:RITM – Get Free Report) last announced its quarterly earnings results on Monday, July 31st. The real estate investment trust reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.28. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $880.65 million. Rithm Capital had a return on equity of 14.96% and a net margin of 20.61%. The company’s quarterly revenue was up 32.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.31 earnings per share. As a group, research analysts forecast that Rithm Capital Corp. will post 1.64 EPS for the current fiscal year.
Rithm Capital Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, July 28th. Shareholders of record on Monday, July 3rd were issued a $0.25 dividend. The ex-dividend date was Friday, June 30th. This represents a $1.00 annualized dividend and a yield of 9.87%. Rithm Capital’s payout ratio is currently 76.34%.
Rithm Capital Company Profile
Rithm Capital Corp. operates as an investment manager that operates a vertically integrated mortgage platform and invests in real estate and related properties in the United States and Europe. The company provides capital and services to the real estate and financial services sectors. Its investment portfolio comprises mortgage servicing related assets, residential securities and loans, and single-family rental loans.
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