2,208,833 Shares in Rithm Capital Corp. $RITM Purchased by VIRGINIA RETIREMENT SYSTEMS ET Al

Key Points

• The Virginia Retirement Systems ET Al purchased 2,208,833 shares of Rithm Capital Corp. for about $24.94 million, amounting to approximately 0.42% of the company's total shares.
• Rithm Capital reported $0.54 EPS for the quarter, exceeding analyst expectations, with revenue of $1.22 billion.
• The company declared a quarterly dividend of $0.25 per share, representing a 9.2% dividend yield and a payout ratio of 76.92%.

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Rithm Capital Corp. (NYSE:RITM - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 2,208,833 shares of the real estate investment trust's stock, valued at approximately $24,938,000. VIRGINIA RETIREMENT SYSTEMS ET Al owned approximately 0.42% of Rithm Capital at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of RITM. Wealth Enhancement Advisory Services LLC increased its stake in shares of Rithm Capital by 5.6% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 178,507 shares of the real estate investment trust's stock worth $2,044,000 after acquiring an additional 9,508 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in shares of Rithm Capital by 1.4% in the 1st quarter. Janney Montgomery Scott LLC now owns 98,329 shares of the real estate investment trust's stock worth $1,126,000 after acquiring an additional 1,380 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in shares of Rithm Capital by 1.1% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 257,992 shares of the real estate investment trust's stock worth $2,954,000 after acquiring an additional 2,892 shares in the last quarter. Flagship Harbor Advisors LLC increased its stake in shares of Rithm Capital by 4.7% in the 1st quarter. Flagship Harbor Advisors LLC now owns 36,808 shares of the real estate investment trust's stock worth $421,000 after acquiring an additional 1,636 shares in the last quarter. Finally, Oppenheimer & Co. Inc. increased its stake in shares of Rithm Capital by 1,146.1% in the 1st quarter. Oppenheimer & Co. Inc. now owns 356,485 shares of the real estate investment trust's stock worth $4,082,000 after acquiring an additional 327,878 shares in the last quarter. 44.92% of the stock is currently owned by institutional investors.

Rithm Capital Stock Performance

Shares of NYSE RITM opened at $10.84 on Monday. The firm's 50-day moving average price is $11.89 and its 200-day moving average price is $11.49. 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 company has a market cap of $5.75 billion, a PE ratio of 8.34 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.

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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.51 by $0.03. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.18 billion. Rithm Capital had a net margin of 16.72% and a return on equity of 18.89%. As a group, analysts anticipate that Rithm Capital Corp. will post 1.93 EPS for the current year.

Rithm Capital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Wednesday, October 1st will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.2%. 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

RITM has been the subject of several research reports. BTIG Research reiterated a "buy" rating and issued a $16.00 price target on shares of Rithm Capital in a research note on Wednesday, September 17th. Weiss Ratings reissued a "buy (b)" rating on shares of Rithm Capital in a research report on Wednesday, October 8th. UBS Group increased their price objective on shares of Rithm Capital from $14.00 to $16.00 and gave the company a "buy" rating in a research report on Wednesday, September 3rd. Keefe, Bruyette & Woods increased their price objective on shares of Rithm Capital from $13.50 to $14.00 and gave the company an "outperform" rating in a research report on Tuesday, July 29th. Finally, Wedbush reissued an "outperform" rating and set a $14.00 price objective on shares of Rithm Capital in a research report on Wednesday, August 6th. One research analyst has rated the stock with a Strong Buy rating and nine have given a Buy rating to the company. Based on data from MarketBeat, Rithm Capital currently has a consensus rating of "Buy" and a consensus target price of $14.25.

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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