20,300 Shares in Rithm Capital Corp. (NYSE:RITM) Acquired by Doheny Asset Management CA

Doheny Asset Management CA bought a new stake in shares of Rithm Capital Corp. (NYSE:RITM) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 20,300 shares of the real estate investment trust’s stock, valued at approximately $221,000.

Several other institutional investors also recently bought and sold shares of RITM. Natixis acquired a new stake in shares of Rithm Capital in the 1st quarter worth $689,000. Allianz Asset Management GmbH boosted its holdings in Rithm Capital by 107.7% in 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 acquiring an additional 607,413 shares in the last quarter. Dynamic Technology Lab Private Ltd grew its stake in shares of Rithm Capital by 14.1% during the fourth quarter. Dynamic Technology Lab Private Ltd now owns 21,181 shares of the real estate investment trust’s stock worth $226,000 after acquiring an additional 2,614 shares during the last quarter. Slagle Financial LLC increased its holdings in shares of Rithm Capital by 99.1% during 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 acquiring an additional 236,199 shares in the last quarter. Finally, Vanguard Group Inc. raised its position in shares of Rithm Capital by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 45,815,852 shares of the real estate investment trust’s stock valued at $511,305,000 after purchasing an additional 378,931 shares during the last quarter. 44.92% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on RITM shares. JMP Securities upped their price target on shares of Rithm Capital from $11.00 to $12.50 and gave the company a “market outperform” rating in a research note on Friday, July 19th. Piper Sandler upped their target price on Rithm Capital from $10.50 to $12.50 and gave the company a “neutral” rating in a research report on Tuesday, May 14th. Wedbush reaffirmed an “outperform” rating and set a $13.00 price target on shares of Rithm Capital in a research report on Friday, August 16th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $13.00 price target on shares of Rithm Capital in a research note on Tuesday, August 13th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $12.60.

Rithm Capital Price Performance

Shares of RITM opened at $11.58 on Tuesday. The business’s 50-day moving average is $11.32 and its two-hundred day moving average is $11.14. The company has a market capitalization of $5.60 billion, a P/E ratio of 7.72 and a beta of 1.80. Rithm Capital Corp. has a fifty-two week low of $8.87 and a fifty-two 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.

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, topping 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 last year, the company earned $0.62 earnings per share. Rithm Capital’s revenue for the quarter was up 18.4% compared to the same quarter last year. Research analysts predict that Rithm Capital Corp. will post 1.82 earnings per share for the current year.

Rithm Capital Announces Dividend

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

Rithm Capital Company 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.