132,563 Shares in Rithm Capital Corp. $RITM Acquired by Sullivan Wood Capital Management LLC

Key Points

• Sullivan Wood Capital Management LLC has acquired a new stake in Rithm Capital Corp., purchasing 132,563 shares valued at approximately $1.53 million, making it the 7th largest position in their holdings.
• Rithm Capital's recent quarterly earnings surpassed expectations, reporting an EPS of $0.54, beating analysts' consensus of $0.51.
• The company declared a quarterly dividend of $0.25, representing an annualized dividend yield of 9.0%, with a dividend payout ratio of 76.92%.

Sullivan Wood Capital Management LLC purchased a new stake in Rithm Capital Corp. (NYSE:RITM - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 132,563 shares of the real estate investment trust's stock, valued at approximately $1,530,000. Rithm Capital makes up about 3.2% of Sullivan Wood Capital Management LLC's holdings, making the stock its 7th biggest position.

Other institutional investors and hedge funds also recently made changes to their positions in the company. SouthState Corp bought a new stake in shares of Rithm Capital during the first quarter worth $25,000. Fourth Dimension Wealth LLC increased its position in shares of Rithm Capital by 50.0% during the first quarter. Fourth Dimension Wealth LLC now owns 3,000 shares of the real estate investment trust's stock worth $34,000 after acquiring an additional 1,000 shares in the last quarter. SVB Wealth LLC bought a new stake in shares of Rithm Capital during the first quarter worth $57,000. GAMMA Investing LLC increased its position in shares of Rithm Capital by 19.1% during the second quarter. GAMMA Investing LLC now owns 5,528 shares of the real estate investment trust's stock worth $62,000 after acquiring an additional 887 shares in the last quarter. Finally, CWM LLC increased its position in shares of Rithm Capital by 25.5% during the first quarter. CWM LLC now owns 6,046 shares of the real estate investment trust's stock worth $69,000 after acquiring an additional 1,228 shares in the last quarter. Institutional investors and hedge funds own 44.92% of the company's stock.

Analysts Set New Price Targets

Several brokerages have recently issued reports on RITM. Keefe, Bruyette & Woods increased their price objective on shares of Rithm Capital from $13.50 to $14.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 29th. BTIG Research reissued a "buy" rating and set a $16.00 price objective on shares of Rithm Capital in a research report on Wednesday, September 17th. 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 reaffirmed an "outperform" rating and issued a $14.00 target price on shares of Rithm Capital in a research report on Wednesday, August 6th. Finally, Royal Bank Of Canada lifted their price target on shares of Rithm Capital from $13.00 to $14.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the stock. Based on data from MarketBeat.com, Rithm Capital presently has a consensus rating of "Buy" and a consensus price target of $14.25.

Rithm Capital Stock Performance

Shares of RITM stock opened at $11.16 on Friday. The stock has a market cap of $5.92 billion, a P/E ratio of 8.58 and a beta of 1.31. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.40 and a quick ratio of 0.40. The company has a fifty day moving average price of $12.18 and a two-hundred day moving average price of $11.55. Rithm Capital Corp. has a one year low of $9.13 and a one year high of $12.74.

Rithm Capital (NYSE:RITM - Get Free Report) last announced its quarterly earnings results 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 firm had revenue of $1.22 billion during the quarter, compared to analysts' expectations of $1.18 billion. Rithm Capital had a net margin of 16.72% and a return on equity of 18.89%. As a group, equities analysts predict that Rithm Capital Corp. will post 1.93 EPS for the current year.

Rithm Capital Dividend Announcement

The company 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. The ex-dividend date is Wednesday, October 1st. This represents a $1.00 dividend on an annualized basis and a yield of 9.0%. Rithm Capital's dividend payout ratio (DPR) is currently 76.92%.

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.

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