Rithm Capital Corp. $RITM Shares Bought by Institute for Wealth Management LLC.

Institute for Wealth Management LLC. grew its position in shares of Rithm Capital Corp. (NYSE:RITM) by 3.4% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 50,595 shares of the real estate investment trust’s stock after purchasing an additional 1,650 shares during the period. Institute for Wealth Management LLC.’s holdings in Rithm Capital were worth $571,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Kingstone Capital Partners Texas LLC acquired a new position in Rithm Capital during the second quarter worth $96,027,000. KBC Group NV lifted its stake in Rithm Capital by 24.0% during the first quarter. KBC Group NV now owns 22,846 shares of the real estate investment trust’s stock worth $262,000 after purchasing an additional 4,423 shares in the last quarter. Belpointe Asset Management LLC lifted its stake in Rithm Capital by 84.2% during the first quarter. Belpointe Asset Management LLC now owns 54,520 shares of the real estate investment trust’s stock worth $624,000 after purchasing an additional 24,920 shares in the last quarter. Edgestream Partners L.P. raised its stake in shares of Rithm Capital by 341.5% in the first quarter. Edgestream Partners L.P. now owns 688,882 shares of the real estate investment trust’s stock valued at $7,888,000 after acquiring an additional 532,866 shares in the last quarter. Finally, Amalgamated Bank raised its stake in shares of Rithm Capital by 5.9% in the first quarter. Amalgamated Bank now owns 27,064 shares of the real estate investment trust’s stock valued at $310,000 after acquiring an additional 1,502 shares in the last quarter. 44.92% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the company. Royal Bank Of Canada increased their price objective on Rithm Capital from $13.00 to $14.00 and gave the company an “outperform” rating in a research note on Friday, August 1st. UBS Group increased their price objective on Rithm Capital from $14.00 to $16.00 and gave the company a “buy” rating in a research note on Wednesday, September 3rd. Keefe, Bruyette & Woods increased their price objective on Rithm Capital from $13.50 to $14.00 and gave the company an “outperform” rating in a research note on Tuesday, July 29th. Wedbush reiterated an “outperform” rating and issued a $14.00 price objective on shares of Rithm Capital in a research note on Wednesday, August 6th. Finally, Jones Trading increased their price objective on Rithm Capital from $12.50 to $13.50 and gave the company a “buy” rating in a research note on Tuesday, July 29th. One analyst has rated the stock with a Strong Buy rating and eight have given a Buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $14.25.

Rithm Capital Stock Performance

NYSE:RITM opened at $11.23 on Thursday. The firm has a market capitalization of $5.95 billion, a PE ratio of 8.63 and a beta of 1.31. The business’s fifty day moving average price is $12.20 and its 200 day moving average price is $11.55. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.40 and a quick ratio of 0.40. Rithm Capital Corp. has a 12 month low of $9.13 and a 12 month high of $12.74.

Rithm Capital (NYSE:RITM) last issued its quarterly earnings data on Monday, July 28th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.03. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.18 billion. Rithm Capital had a return on equity of 18.89% and a net margin of 16.72%. On average, sell-side analysts anticipate that Rithm Capital Corp. will post 1.93 earnings per share for the current fiscal year.

Rithm Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Wednesday, October 1st will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $1.00 annualized dividend and a dividend yield of 8.9%. Rithm Capital’s dividend payout ratio (DPR) is presently 76.92%.

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.