Frank Rimerman Advisors LLC Makes New Investment in Rithm Capital Corp. (NYSE:RITM)

Frank Rimerman Advisors LLC acquired a new stake in Rithm Capital Corp. (NYSE:RITM) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 37,194 shares of the real estate investment trust’s stock, valued at approximately $406,000.

A number of other institutional investors have also modified their holdings of RITM. Bessemer Group Inc. purchased a new position in Rithm Capital in the first quarter valued at approximately $30,000. Raleigh Capital Management Inc. lifted its holdings in shares of Rithm Capital by 125.4% during the 4th quarter. Raleigh Capital Management Inc. now owns 2,986 shares of the real estate investment trust’s stock valued at $32,000 after acquiring an additional 1,661 shares in the last quarter. Abich Financial Wealth Management LLC boosted its position in Rithm Capital by 56.8% during the 1st quarter. Abich Financial Wealth Management LLC now owns 4,031 shares of the real estate investment trust’s stock worth $45,000 after purchasing an additional 1,461 shares during the period. Fidelis Capital Partners LLC acquired a new stake in Rithm Capital in the 1st quarter valued at $62,000. Finally, Cape Investment Advisory Inc. purchased a new position in Rithm Capital in the fourth quarter valued at about $71,000. Hedge funds and other institutional investors own 44.92% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on RITM shares. JMP Securities boosted their price target on Rithm Capital from $11.00 to $12.50 and gave the stock a “market outperform” rating in a research report on Friday, July 19th. Royal Bank of Canada restated an “outperform” rating and issued a $13.00 target price on shares of Rithm Capital in a research note on Tuesday, August 13th. Finally, Wedbush reaffirmed an “outperform” rating and set a $13.00 price target on shares of Rithm Capital in a research note on Friday, August 16th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, Rithm Capital currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.60.

Rithm Capital Trading Up 0.3 %

Shares of NYSE RITM opened at $11.81 on Wednesday. The stock has a market capitalization of $5.71 billion, a P/E ratio of 7.87 and a beta of 1.80. The stock’s 50 day moving average price is $11.51 and its two-hundred day moving average price is $11.21. 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 Corp. has a 52-week low of $8.87 and a 52-week high of $12.02.

Rithm Capital (NYSE:RITM) last released its quarterly earnings data 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. The firm had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.15 billion. Rithm Capital had a net margin of 15.55% and a return on equity of 18.04%. During the same quarter in the previous year, the company posted $0.62 earnings per share. The firm’s revenue was up 18.4% on a year-over-year basis. On average, analysts anticipate that Rithm Capital Corp. will post 1.82 earnings per share for the current fiscal year.

Rithm Capital Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Tuesday, October 1st will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 8.47%. The ex-dividend date is Tuesday, October 1st. Rithm Capital’s dividend payout ratio (DPR) is presently 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.