Rithm Capital Corp. $RITM Shares Bought by Vanguard Group Inc.

Vanguard Group Inc. raised its position in Rithm Capital Corp. (NYSE:RITM) by 2.4% in the 4th quarter, Holdings Channel.com reports. The fund owned 50,282,841 shares of the real estate investment trust’s stock after acquiring an additional 1,191,923 shares during the quarter. Vanguard Group Inc. owned approximately 0.09% of Rithm Capital worth $548,083,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. CoreCap Advisors LLC boosted its stake in Rithm Capital by 99.2% in the fourth quarter. CoreCap Advisors LLC now owns 2,295 shares of the real estate investment trust’s stock valued at $25,000 after acquiring an additional 1,143 shares in the last quarter. Bessemer Group Inc. boosted its stake in Rithm Capital by 658.9% in the third quarter. Bessemer Group Inc. now owns 2,656 shares of the real estate investment trust’s stock valued at $30,000 after acquiring an additional 2,306 shares in the last quarter. Atlantic Union Bankshares Corp acquired a new stake in Rithm Capital in the third quarter valued at approximately $31,000. Mather Group LLC. acquired a new stake in Rithm Capital in the third quarter valued at approximately $33,000. Finally, FNY Investment Advisers LLC acquired a new stake in Rithm Capital in the fourth quarter valued at approximately $31,000. 44.92% of the stock is currently owned by institutional investors and hedge funds.

Rithm Capital Trading Down 1.5%

Shares of Rithm Capital stock opened at $9.65 on Tuesday. The company has a debt-to-equity ratio of 2.20, a current ratio of 0.58 and a quick ratio of 0.58. The firm has a fifty day moving average price of $9.75 and a 200 day moving average price of $10.63. Rithm Capital Corp. has a 1 year low of $8.43 and a 1 year high of $12.74. The stock has a market cap of $5.38 billion, a PE ratio of 8.85 and a beta of 1.17.

Rithm Capital (NYSE:RITM) last issued its earnings results on Tuesday, April 28th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.02). Rithm Capital had a return on equity of 19.69% and a net margin of 14.44%.The business had revenue of $1.38 billion for the quarter, compared to analysts’ expectations of $1.27 billion. Equities research analysts predict that Rithm Capital Corp. will post 2.28 earnings per share for the current year.

Rithm Capital Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, April 30th. Investors of record on Monday, April 6th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 10.4%. The ex-dividend date of this dividend was Monday, April 6th. Rithm Capital’s dividend payout ratio (DPR) is 91.74%.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on RITM. UBS Group lowered their target price on shares of Rithm Capital from $15.00 to $14.50 and set a “buy” rating for the company in a research note on Friday, April 10th. Wedbush lowered their price objective on shares of Rithm Capital from $14.00 to $12.50 and set an “outperform” rating for the company in a research note on Friday. Wall Street Zen downgraded shares of Rithm Capital from a “buy” rating to a “hold” rating in a research note on Saturday. Piper Sandler lowered their price objective on shares of Rithm Capital from $15.00 to $14.00 and set an “overweight” rating for the company in a research note on Thursday, April 2nd. Finally, JonesTrading reiterated a “buy” rating and set a $13.50 price objective on shares of Rithm Capital in a research note on Tuesday, April 28th. Seven investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, Rithm Capital presently has a consensus rating of “Moderate Buy” and a consensus price target of $13.63.

Rithm Capital Company Profile

Rithm Capital Corporation is a specialty finance company that originates, acquires and manages structured credit investments collateralized by real estate assets in the United States. The company focuses primarily on senior floating-rate loans secured by multifamily, commercial, industrial and single-family rental properties, aiming to deliver attractive risk-adjusted yields through a diversified portfolio of floating-rate real estate debt.

In addition to senior loans, Rithm Capital invests in residential mortgage-backed securities, including agency and non-agency pools, as well as other real estate-related credit instruments.