Azora Capital LP Has $39.05 Million Stock Position in Rithm Capital Corp. $RITM

Key Points

• Azora Capital LP reduced its stake in Rithm Capital Corp. (NYSE:RITM) by 18.5%, now holding approximately $39.05 million worth of shares.
• Rithm Capital reported earnings of $0.54 per share for the last quarter, exceeding estimates, along with a recent annualized dividend of $1.00, yielding 8.1%.
• Wall Street analysts maintain a positive outlook on Rithm Capital, with a consensus rating of “Buy” and a price target increase to $14.00.

Azora Capital LP decreased its holdings in shares of Rithm Capital Corp. (NYSE:RITM - Free Report) by 18.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,410,097 shares of the real estate investment trust's stock after selling 772,683 shares during the quarter. Rithm Capital makes up about 2.7% of Azora Capital LP's holdings, making the stock its 11th biggest position. Azora Capital LP owned approximately 0.64% of Rithm Capital worth $39,046,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of RITM. Sheaff Brock Investment Advisors LLC grew its stake in Rithm Capital by 8.8% in the 1st quarter. Sheaff Brock Investment Advisors LLC now owns 11,725 shares of the real estate investment trust's stock valued at $134,000 after buying an additional 945 shares during the last quarter. Private Advisor Group LLC grew its stake in Rithm Capital by 2.0% in the 1st quarter. Private Advisor Group LLC now owns 50,461 shares of the real estate investment trust's stock valued at $578,000 after buying an additional 974 shares during the last quarter. Fourth Dimension Wealth LLC grew its stake in Rithm Capital by 50.0% in the 1st quarter. Fourth Dimension Wealth LLC now owns 3,000 shares of the real estate investment trust's stock valued at $34,000 after buying an additional 1,000 shares during the last quarter. Vident Advisory LLC grew its stake in Rithm Capital by 7.3% in the 4th quarter. Vident Advisory LLC now owns 15,509 shares of the real estate investment trust's stock valued at $168,000 after buying an additional 1,051 shares during the last quarter. Finally, Townsquare Capital LLC grew its stake in Rithm Capital by 3.7% in the 1st quarter. Townsquare Capital LLC now owns 30,439 shares of the real estate investment trust's stock valued at $349,000 after buying an additional 1,088 shares during the last quarter. Institutional investors and hedge funds own 44.92% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. UBS Group reiterated a "buy" rating and issued a $14.00 target price (up from $13.00) on shares of Rithm Capital in a research note on Tuesday, July 15th. Wedbush restated an "outperform" rating and issued a $14.00 price target on shares of Rithm Capital in a research report on Wednesday, August 6th. Jones Trading raised their price target 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. Keefe, Bruyette & Woods raised their price objective on shares of Rithm Capital from $13.50 to $14.00 and gave the stock an "outperform" rating in a report on Tuesday, July 29th. Finally, Royal Bank Of Canada raised their price objective on shares of Rithm Capital from $13.00 to $14.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. One 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, the company presently has a consensus rating of "Buy" and a consensus price target of $14.00.

Rithm Capital Price Performance

NYSE:RITM opened at $12.29 on Friday. Rithm Capital Corp. has a 52 week low of $9.13 and a 52 week high of $12.61. The company has a market capitalization of $6.51 billion, a price-to-earnings ratio of 9.45 and a beta of 1.25. The company has a 50-day moving average of $11.98 and a 200-day moving average of $11.50. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.40 and a current ratio of 0.40.

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

Rithm Capital Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, June 30th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 8.1%. The ex-dividend date of this dividend was Monday, June 30th. Rithm Capital's dividend payout ratio (DPR) is currently 76.92%.

Rithm Capital Company 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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