TCW Group Inc. Sells 26,862 Shares of Rithm Capital Corp. (NYSE:RITM)

TCW Group Inc. decreased its stake in shares of Rithm Capital Corp. (NYSE:RITM) by 32.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 55,339 shares of the real estate investment trust’s stock after selling 26,862 shares during the period. TCW Group Inc.’s holdings in Rithm Capital were worth $604,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its position in shares of 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 in the last quarter. Norges Bank bought a new stake in Rithm Capital during the 4th quarter worth about $63,896,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Rithm Capital by 2.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 4,853,568 shares of the real estate investment trust’s stock worth $51,836,000 after buying an additional 94,989 shares during the last quarter. Long Pond Capital LP acquired a new position in shares of Rithm Capital during the 1st quarter worth about $53,025,000. Finally, BlueCrest Capital Management Ltd grew its holdings in shares of Rithm Capital by 1.0% in the 1st quarter. BlueCrest Capital Management Ltd now owns 2,134,661 shares of the real estate investment trust’s stock valued at $23,823,000 after acquiring an additional 21,424 shares in the last quarter. 44.92% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently commented on RITM shares. B. Riley reissued a “buy” rating and set a $14.00 price target (up from $13.00) on shares of Rithm Capital in a research report on Friday, May 10th. Royal Bank of Canada reissued an “outperform” rating and issued a $13.00 target price on shares of Rithm Capital in a research note on Tuesday, August 13th. JMP Securities upped their price target on shares of Rithm Capital from $11.00 to $12.50 and gave the stock a “market outperform” rating in a research report on Friday, July 19th. Piper Sandler increased their price target on shares of Rithm Capital from $10.50 to $12.50 and gave the company a “neutral” rating in a research note on Tuesday, May 14th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Rithm Capital from $12.00 to $12.50 and gave the stock an “outperform” rating in a research note on Thursday, May 2nd. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, Rithm Capital has an average rating of “Moderate Buy” and an average price target of $12.55.

Rithm Capital Stock Up 0.7 %

Shares of RITM opened at $11.44 on Monday. The firm has a market cap of $5.53 billion, a P/E ratio of 7.63 and a beta of 1.82. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.29 and a current ratio of 0.29. Rithm Capital Corp. has a 52 week low of $8.87 and a 52 week high of $11.85. The firm’s 50-day simple moving average is $11.12 and its 200 day simple moving average is $11.00.

Rithm Capital (NYSE:RITM) last posted its earnings results on Wednesday, July 31st. The real estate investment trust reported $0.47 EPS for the quarter, beating the consensus estimate of $0.42 by $0.05. The company had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.15 billion. Rithm Capital had a return on equity of 18.20% and a net margin of 15.55%. The firm’s revenue for the quarter was up 18.4% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.62 earnings per share. On average, analysts forecast that Rithm Capital Corp. will post 1.78 earnings per share for the current year.

Rithm Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 26th. Shareholders of record on Monday, July 1st were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 8.74%. The ex-dividend date of this dividend was Monday, July 1st. Rithm Capital’s payout ratio is 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.