Rithm Capital Corp. $RITM Shares Purchased by Truist Financial Corp

Truist Financial Corp increased its holdings in shares of Rithm Capital Corp. (NYSE:RITM) by 2.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 97,583 shares of the real estate investment trust’s stock after acquiring an additional 2,516 shares during the period. Truist Financial Corp’s holdings in Rithm Capital were worth $1,102,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RITM. GAMMA Investing LLC grew its holdings in Rithm Capital by 1,268.2% during the first quarter. GAMMA Investing LLC now owns 53,139 shares of the real estate investment trust’s stock worth $608,000 after acquiring an additional 49,255 shares during the period. Handelsbanken Fonder AB grew its holdings in Rithm Capital by 27.2% in the first quarter. Handelsbanken Fonder AB now owns 183,094 shares of the real estate investment trust’s stock valued at $2,096,000 after purchasing an additional 39,100 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in Rithm Capital by 5.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 178,507 shares of the real estate investment trust’s stock valued at $2,044,000 after purchasing an additional 9,508 shares during the last quarter. Pacific Sun Financial Corp boosted its position in shares of Rithm Capital by 16.0% in the 1st quarter. Pacific Sun Financial Corp now owns 35,162 shares of the real estate investment trust’s stock worth $403,000 after buying an additional 4,840 shares in the last quarter. Finally, Foster Victor Wealth Advisors LLC boosted its position in shares of Rithm Capital by 2.4% in the 1st quarter. Foster Victor Wealth Advisors LLC now owns 59,257 shares of the real estate investment trust’s stock worth $678,000 after buying an additional 1,408 shares in the last quarter. Institutional investors and hedge funds own 44.92% of the company’s stock.

Rithm Capital Stock Down 1.2%

RITM opened at $10.66 on Monday. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 1.63. The firm has a market cap of $5.65 billion, a P/E ratio of 8.20 and a beta of 1.31. Rithm Capital Corp. has a 52 week low of $9.13 and a 52 week high of $12.74. The business’s fifty day simple moving average is $12.02 and its 200 day simple moving average is $11.51.

Rithm Capital (NYSE:RITM) last posted its quarterly earnings data on Monday, July 28th. The real estate investment trust reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.03. The business 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%. As a group, equities research analysts anticipate that Rithm Capital Corp. will post 1.93 EPS for the current fiscal year.

Rithm Capital Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Wednesday, October 1st will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 9.4%. The ex-dividend date of this dividend is Wednesday, October 1st. Rithm Capital’s dividend payout ratio (DPR) is presently 76.92%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. UBS Group boosted their price objective on shares of Rithm Capital from $14.00 to $16.00 and gave the stock a “buy” rating in a research report on Wednesday, September 3rd. Wedbush reiterated an “outperform” rating and issued a $14.00 price objective on shares of Rithm Capital in a research report on Wednesday, August 6th. Jones Trading boosted their price objective on shares of Rithm Capital from $12.50 to $13.50 and gave the stock a “buy” rating in a research report on Tuesday, July 29th. BTIG Research reiterated a “buy” rating and issued a $16.00 price objective on shares of Rithm Capital in a research report on Wednesday, September 17th. Finally, Royal Bank Of Canada boosted their price objective on shares of Rithm Capital from $13.00 to $14.00 and gave the stock an “outperform” rating in a research report on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating and nine have given a Buy rating to the stock. According to MarketBeat, Rithm Capital has a consensus rating of “Buy” and a consensus target price of $14.25.

About Rithm Capital

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.