Victory Capital Management Inc. Acquires 13,186 Shares of Rithm Capital Corp. (NYSE:RITM)

Victory Capital Management Inc. raised its holdings in shares of Rithm Capital Corp. (NYSE:RITM) by 7.9% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 179,737 shares of the real estate investment trust’s stock after acquiring an additional 13,186 shares during the quarter. Victory Capital Management Inc.’s holdings in Rithm Capital were worth $1,961,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in the business. Larson Financial Group LLC grew its stake in shares of Rithm Capital by 8.8% during the 2nd quarter. Larson Financial Group LLC now owns 138,282 shares of the real estate investment trust’s stock worth $1,509,000 after acquiring an additional 11,213 shares in the last quarter. Capital Square LLC boosted its holdings in shares of Rithm Capital by 2.2% in the 2nd quarter. Capital Square LLC now owns 245,510 shares of the real estate investment trust’s stock valued at $2,863,000 after buying an additional 5,211 shares during the last quarter. Rothschild Investment LLC acquired a new stake in shares of Rithm Capital in the 2nd quarter valued at approximately $313,000. Burney Co. boosted its holdings in shares of Rithm Capital by 133.4% in the 2nd quarter. Burney Co. now owns 114,598 shares of the real estate investment trust’s stock valued at $1,250,000 after buying an additional 65,507 shares during the last quarter. Finally, HB Wealth Management LLC boosted its holdings in shares of Rithm Capital by 16.8% in the 2nd quarter. HB Wealth Management LLC now owns 13,722 shares of the real estate investment trust’s stock valued at $150,000 after buying an additional 1,978 shares during the last quarter. 44.92% of the stock is owned by institutional investors.

Rithm Capital Stock Down 0.7 %

RITM opened at $11.81 on Thursday. Rithm Capital Corp. has a fifty-two week low of $8.87 and a fifty-two week high of $11.99. 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 company has a market capitalization of $5.71 billion, a P/E ratio of 7.87 and a beta of 1.80. The stock has a fifty day moving average of $11.46 and a 200-day moving average of $11.18.

Rithm Capital (NYSE:RITM) last issued its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.05. Rithm Capital had a return on equity of 18.04% and a net margin of 15.55%. The company had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter last year, the business earned $0.62 earnings per share. Rithm Capital’s revenue was up 18.4% on a year-over-year basis. On average, equities analysts expect that Rithm Capital Corp. will post 1.82 EPS for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on RITM shares. Royal Bank of Canada reaffirmed an “outperform” rating and set a $13.00 price target on shares of Rithm Capital in a report on Tuesday, August 13th. Wedbush reaffirmed an “outperform” rating and set a $13.00 price target on shares of Rithm Capital in a report on Friday, August 16th. Finally, JMP Securities raised their price target on Rithm Capital from $11.00 to $12.50 and gave the company a “market outperform” rating in a report on Friday, July 19th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently 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.