Quest Partners LLC Takes Position in Rithm Capital Corp. (NYSE:RITM)

Quest Partners LLC bought a new stake in Rithm Capital Corp. (NYSE:RITM) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 42,727 shares of the real estate investment trust’s stock, valued at approximately $466,000.

Other institutional investors have also added to or reduced their stakes in the company. Natixis acquired a new position in shares of Rithm Capital during the first quarter worth approximately $689,000. Allianz Asset Management GmbH raised its holdings in Rithm Capital by 107.7% during the fourth quarter. Allianz Asset Management GmbH now owns 1,171,379 shares of the real estate investment trust’s stock worth $12,510,000 after buying an additional 607,413 shares during the last quarter. Dynamic Technology Lab Private Ltd lifted its stake in shares of Rithm Capital by 14.1% in the fourth quarter. Dynamic Technology Lab Private Ltd now owns 21,181 shares of the real estate investment trust’s stock valued at $226,000 after buying an additional 2,614 shares in the last quarter. Slagle Financial LLC lifted its stake in shares of Rithm Capital by 99.1% in the fourth quarter. Slagle Financial LLC now owns 474,538 shares of the real estate investment trust’s stock valued at $5,068,000 after buying an additional 236,199 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings 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 valued at $511,305,000 after buying an additional 378,931 shares during the last quarter. 44.92% of the stock is owned by institutional investors and hedge funds.

Rithm Capital Price Performance

Shares of NYSE RITM opened at $11.57 on Friday. The stock’s 50 day moving average price is $11.35 and its 200-day moving average price is $11.14. The company has a market capitalization of $5.59 billion, a PE ratio of 7.71 and a beta of 1.80. Rithm Capital Corp. has a twelve month low of $8.87 and a twelve month high of $11.94. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 1.81.

Rithm Capital (NYSE:RITM) last announced its earnings results on Wednesday, July 31st. The real estate investment trust reported $0.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.05. The firm had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.15 billion. Rithm Capital had a return on equity of 18.04% and a net margin of 15.55%. The business’s revenue was up 18.4% compared to the same quarter last year. During the same period last year, the firm posted $0.62 EPS. On average, equities analysts anticipate that Rithm Capital Corp. will post 1.82 EPS for the current year.

Rithm Capital Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 26th. Stockholders of record on Monday, July 1st were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.64%. The ex-dividend date of this dividend was Monday, July 1st. Rithm Capital’s dividend payout ratio is currently 66.67%.

Analyst Ratings Changes

RITM has been the topic of a number of analyst reports. Wedbush restated an “outperform” rating and issued a $13.00 target price on shares of Rithm Capital in a report on Friday, August 16th. JMP Securities increased their price objective on Rithm Capital from $11.00 to $12.50 and gave the stock a “market outperform” rating in a research note on Friday, July 19th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $13.00 target price on shares of Rithm Capital in a research report on Tuesday, August 13th. One equities 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, the company has a consensus rating of “Moderate Buy” and a consensus price target of $12.60.

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.