Rithm Capital Corp. (NYSE:RITM) Position Lessened by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC trimmed its position in shares of Rithm Capital Corp. (NYSE:RITM) by 32.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,509 shares of the real estate investment trust’s stock after selling 7,760 shares during the period. Los Angeles Capital Management LLC’s holdings in Rithm Capital were worth $180,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Vanguard Group Inc. raised 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 worth $511,305,000 after acquiring an additional 378,931 shares in the last quarter. Norges Bank bought a new position in Rithm Capital during the fourth quarter valued at about $63,896,000. Long Pond Capital LP bought a new position in Rithm Capital during the first quarter valued at about $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 valued at $23,823,000 after buying an additional 21,424 shares in the last quarter. Finally, Wellington Management Group LLP raised its holdings in Rithm Capital by 3.9% during the fourth quarter. Wellington Management Group LLP now owns 2,106,184 shares of the real estate investment trust’s stock valued at $22,494,000 after buying an additional 78,838 shares in the last quarter. 44.92% of the stock is currently owned by hedge funds and other institutional investors.

Rithm Capital Trading Up 1.7 %

Rithm Capital stock opened at $11.77 on Monday. Rithm Capital Corp. has a 52 week low of $8.87 and a 52 week high of $11.94. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.49 and a current ratio of 0.49. The firm has a market capitalization of $5.69 billion, a PE ratio of 7.85 and a beta of 1.80. The business’s 50-day simple moving average is $11.39 and its 200-day simple moving average is $11.16.

Rithm Capital (NYSE:RITM) last issued its quarterly 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. Rithm Capital had a return on equity of 18.04% and a net margin of 15.55%. The firm had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.15 billion. During the same period in the previous year, the company posted $0.62 earnings per share. The company’s quarterly revenue was up 18.4% compared to the same quarter last year. Equities research analysts forecast that Rithm Capital Corp. will post 1.82 earnings per share for the current year.

Rithm Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 26th. Shareholders of record on Monday, July 1st were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 8.50%. The ex-dividend date of this dividend was Monday, July 1st. Rithm Capital’s payout ratio is 66.67%.

Analysts Set New Price Targets

RITM has been the topic of several recent research reports. JMP Securities raised their target price on Rithm Capital from $11.00 to $12.50 and gave the company a “market outperform” rating in a report on Friday, July 19th. Royal Bank of Canada restated an “outperform” rating and set a $13.00 target price on shares of Rithm Capital in a report on Tuesday, August 13th. Finally, Wedbush restated an “outperform” rating and set a $13.00 target price on shares of Rithm Capital in a report on Friday, August 16th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Rithm Capital has an average rating of “Moderate Buy” and an average price target of $12.60.

About Rithm Capital

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.