Mackenzie Financial Corp Purchases 2,024,090 Shares of Rithm Capital Corp. (NYSE:RITM)

Mackenzie Financial Corp grew its position in shares of Rithm Capital Corp. (NYSE:RITM) by 288.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,725,392 shares of the real estate investment trust’s stock after buying an additional 2,024,090 shares during the quarter. Mackenzie Financial Corp owned approximately 0.51% of Rithm Capital worth $31,206,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in RITM. Sei Investments Co. boosted its stake in Rithm Capital by 12.9% in the fourth quarter. Sei Investments Co. now owns 682,516 shares of the real estate investment trust’s stock worth $7,392,000 after purchasing an additional 77,768 shares in the last quarter. Vanguard Group Inc. raised its holdings in shares of Rithm Capital by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 49,008,422 shares of the real estate investment trust’s stock valued at $530,761,000 after buying an additional 184,802 shares during the last quarter. Elo Mutual Pension Insurance Co bought a new position in shares of Rithm Capital in the fourth quarter valued at about $205,000. Norges Bank acquired a new position in Rithm Capital during the 4th quarter worth about $76,082,000. Finally, Pictet Asset Management Holding SA grew its holdings in Rithm Capital by 20.3% during the 4th quarter. Pictet Asset Management Holding SA now owns 78,904 shares of the real estate investment trust’s stock worth $855,000 after acquiring an additional 13,315 shares during the last quarter. 44.92% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on RITM. Wedbush reaffirmed an “outperform” rating and issued a $14.00 target price on shares of Rithm Capital in a research note on Monday, May 19th. Royal Bank Of Canada restated an “outperform” rating and issued a $13.00 price objective on shares of Rithm Capital in a research report on Tuesday, May 20th. UBS Group reiterated a “buy” rating and issued a $14.00 price objective (up from $13.00) on shares of Rithm Capital in a research report on Tuesday, July 15th. BTIG Research restated a “buy” rating and set a $16.00 target price on shares of Rithm Capital in a research report on Friday, April 25th. Finally, Keefe, Bruyette & Woods raised their price target on Rithm Capital from $13.50 to $14.00 and gave the company an “outperform” rating in a report on Tuesday. Eight equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $13.88.

Rithm Capital Stock Performance

Shares of Rithm Capital stock opened at $12.37 on Wednesday. The firm has a fifty day moving average of $11.52 and a two-hundred day moving average of $11.37. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.35 and a current ratio of 0.35. The stock has a market capitalization of $6.55 billion, a price-to-earnings ratio of 9.51 and a beta of 1.25. Rithm Capital Corp. has a 52 week low of $9.13 and a 52 week high of $12.59.

Rithm Capital (NYSE:RITM) last announced its quarterly earnings data on Monday, July 28th. The real estate investment trust reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.03. Rithm Capital had a return on equity of 19.07% and a net margin of 16.72%. The business had revenue of $1.22 billion during the quarter, compared to analysts’ expectations of $1.18 billion. As a group, equities research analysts predict that Rithm Capital Corp. will post 1.93 EPS for the current year.

Rithm Capital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be paid a $0.25 dividend. The ex-dividend date is Monday, June 30th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.09%. Rithm Capital’s dividend payout ratio (DPR) is presently 83.33%.

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.