Annex Advisory Services LLC Purchases Shares of 25,500 Rithm Capital Corp. $RITM

Key Points

• Annex Advisory Services LLC acquired 25,500 shares of Rithm Capital Corp., worth approximately $288,000, in the second quarter, indicating growing institutional interest in the company.
• Several brokerages have raised their price targets for Rithm Capital, with a consensus target of $14.25 and a majority rating the stock as a "Buy".
• Rithm Capital announced a quarterly dividend of $0.25 per share, resulting in an annualized dividend yield of 8.4%.

Annex Advisory Services LLC acquired a new position in shares of Rithm Capital Corp. (NYSE:RITM - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 25,500 shares of the real estate investment trust's stock, valued at approximately $288,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in RITM. Kingstone Capital Partners Texas LLC bought a new position in shares of Rithm Capital during the 2nd quarter worth about $96,027,000. Mackenzie Financial Corp boosted its position in shares of Rithm Capital by 288.6% during the 1st quarter. Mackenzie Financial Corp now owns 2,725,392 shares of the real estate investment trust's stock worth $31,206,000 after purchasing an additional 2,024,090 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Rithm Capital by 36.3% during the 1st quarter. Wellington Management Group LLP now owns 4,907,737 shares of the real estate investment trust's stock worth $56,194,000 after purchasing an additional 1,307,276 shares in the last quarter. Nuveen LLC bought a new position in shares of Rithm Capital during the 1st quarter worth about $14,086,000. Finally, Goldman Sachs Group Inc. lifted its position in Rithm Capital by 75.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,539,483 shares of the real estate investment trust's stock valued at $17,627,000 after acquiring an additional 662,585 shares in the last quarter. Institutional investors own 44.92% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on RITM. Jones Trading raised their price target on shares of Rithm Capital from $12.50 to $13.50 and gave the company a "buy" rating in a research report on Tuesday, July 29th. BTIG Research reaffirmed a "buy" rating and issued a $16.00 price target on shares of Rithm Capital in a research report on Wednesday, September 17th. Keefe, Bruyette & Woods raised their price target 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. UBS Group raised their price target 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. Finally, Royal Bank Of Canada raised their price target on shares of Rithm Capital from $13.00 to $14.00 and gave the company 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 eight have issued a Buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Buy" and a consensus price target of $14.25.

Rithm Capital Stock Down 2.3%

RITM opened at $11.84 on Tuesday. The company has a 50 day moving average of $12.26 and a 200 day moving average of $11.55. The company has a market cap of $6.28 billion, a PE ratio of 9.10 and a beta of 1.30. Rithm Capital Corp. has a 12 month low of $9.13 and a 12 month high of $12.74. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 1.63.

Rithm Capital (NYSE:RITM - Get Free Report) last released its quarterly earnings data on Monday, July 28th. The real estate investment trust reported $0.54 EPS for the quarter, topping the consensus estimate of $0.51 by $0.03. The company had revenue of $1.22 billion during 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%. On average, sell-side analysts expect that Rithm Capital Corp. will post 1.93 EPS for the current year.

Rithm Capital Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Wednesday, October 1st will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.4%. The ex-dividend date is Wednesday, October 1st. Rithm Capital's payout ratio is 76.92%.

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.

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