Rithm Capital Corp. (NYSE:RITM) Shares Purchased by Edgestream Partners L.P.

Edgestream Partners L.P. boosted its stake in Rithm Capital Corp. (NYSE:RITM) by 341.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 688,882 shares of the real estate investment trust’s stock after buying an additional 532,866 shares during the quarter. Edgestream Partners L.P. owned approximately 0.13% of Rithm Capital worth $7,888,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Rithm Capital by 0.4% in the 4th 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 in the last quarter. Geode Capital Management LLC lifted its stake in Rithm Capital by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 8,494,199 shares of the real estate investment trust’s stock valued at $92,021,000 after buying an additional 79,142 shares in the last quarter. Norges Bank purchased a new position in Rithm Capital in the 4th quarter worth approximately $76,082,000. Balyasny Asset Management L.P. lifted its stake in Rithm Capital by 48.6% in the 4th quarter. Balyasny Asset Management L.P. now owns 6,535,525 shares of the real estate investment trust’s stock worth $70,780,000 after purchasing an additional 2,136,342 shares in the last quarter. Finally, Wellington Management Group LLP lifted its stake in Rithm Capital by 0.9% in the 4th quarter. Wellington Management Group LLP now owns 3,600,461 shares of the real estate investment trust’s stock worth $38,993,000 after purchasing an additional 32,544 shares in the last quarter. 44.92% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have weighed in on RITM. Jones Trading reissued a “buy” rating and issued a $12.50 target price on shares of Rithm Capital in a research note on Tuesday, April 29th. UBS Group decreased their target price on shares of Rithm Capital from $14.00 to $13.00 and set a “buy” rating on the stock in a research note on Wednesday, April 16th. BTIG Research reissued a “buy” rating and issued a $16.00 target price on shares of Rithm Capital in a research note on Friday, April 25th. Wedbush reissued an “outperform” rating and issued a $14.00 target price on shares of Rithm Capital in a research note on Monday, May 19th. Finally, Royal Bank Of Canada restated an “outperform” rating and set a $13.00 price target on shares of Rithm Capital in a report on Tuesday, May 20th. Eight research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $13.56.

Rithm Capital Stock Down 0.7%

Rithm Capital stock opened at $11.67 on Monday. Rithm Capital Corp. has a fifty-two week low of $9.13 and a fifty-two week high of $12.20. 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 firm has a 50 day moving average price of $11.37 and a 200 day moving average price of $11.28. The company has a market capitalization of $6.19 billion, a PE ratio of 9.73 and a beta of 1.25.

Rithm Capital (NYSE:RITM) last posted its quarterly earnings results on Friday, April 25th. The real estate investment trust reported $0.52 EPS for the quarter, topping the consensus estimate of $0.45 by $0.07. The business had revenue of $28.89 million during the quarter, compared to the consensus estimate of $1.27 billion. Rithm Capital had a net margin of 15.06% and a return on equity of 18.38%. During the same quarter in the previous year, the firm posted $0.48 earnings per share. Research analysts expect that Rithm Capital Corp. will post 1.93 earnings per share for the current year.

Rithm Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be given a dividend of $0.25 per share. The ex-dividend date is Monday, June 30th. This represents a $1.00 annualized dividend and a dividend yield of 8.57%. Rithm Capital’s dividend payout ratio (DPR) is currently 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.