Bank of New York Mellon Corp Acquires New Shares in Rithm Capital Corp. $RITM

Bank of New York Mellon Corp acquired a new position in shares of Rithm Capital Corp. (NYSE:RITM - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 3,156,016 shares of the real estate investment trust's stock, valued at approximately $29,635,000. Bank of New York Mellon Corp owned approximately 0.57% of Rithm Capital at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of RITM. AQR Capital Management LLC lifted its holdings in Rithm Capital by 20.4% during the 1st quarter. AQR Capital Management LLC now owns 77,625 shares of the real estate investment trust's stock worth $889,000 after buying an additional 13,166 shares during the period. NewEdge Advisors LLC grew its holdings in Rithm Capital by 5.3% in the first quarter. NewEdge Advisors LLC now owns 31,311 shares of the real estate investment trust's stock worth $359,000 after purchasing an additional 1,585 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of 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 buying an additional 662,585 shares during the period. Geneos Wealth Management Inc. increased its holdings in shares of Rithm Capital by 14.3% during the first quarter. Geneos Wealth Management Inc. now owns 7,031 shares of the real estate investment trust's stock valued at $81,000 after acquiring an additional 881 shares in the last quarter. Finally, M&T Bank Corp increased its stake in Rithm Capital by 13.9% during the 2nd quarter. M&T Bank Corp now owns 26,173 shares of the real estate investment trust's stock valued at $296,000 after purchasing an additional 3,200 shares in the last quarter. 44.92% of the stock is currently owned by institutional investors.

Rithm Capital Price Performance

Shares of NYSE:RITM opened at $10.10 on Friday. The company has a market capitalization of $5.64 billion, a P/E ratio of 16.83 and a beta of 1.14. The company's 50-day moving average is $9.66 and its 200 day moving average is $9.67. The company has a debt-to-equity ratio of 2.19, a quick ratio of 0.76 and a current ratio of 0.76. Rithm Capital Corp. has a fifty-two week low of $8.43 and a fifty-two week high of $12.74.

Rithm Capital (NYSE:RITM - Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.50 by $0.10. Rithm Capital had a net margin of 9.20% and a return on equity of 19.86%. On average, equities research analysts forecast that Rithm Capital Corp. will post 2.26 earnings per share for the current year.

Rithm Capital Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Thursday, July 2nd were paid a dividend of $0.25 per share. The ex-dividend date was Thursday, July 2nd. This represents a $1.00 annualized dividend and a dividend yield of 9.9%. Rithm Capital's dividend payout ratio (DPR) is presently 166.67%.

Insider Activity

In related news, Director Peggy Hwan Hebard sold 14,520 shares of Rithm Capital stock in a transaction that occurred on Thursday, August 20th. The shares were sold at an average price of $10.18, for a total value of $147,813.60. Following the sale, the director owned 82,259 shares of the company's stock, valued at approximately $837,396.62. The trade was a 15.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.57% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

RITM has been the topic of several recent research reports. BTIG Research dropped their price target on shares of Rithm Capital from $16.00 to $13.00 and set a "buy" rating on the stock in a research report on Tuesday, June 16th. Compass Point started coverage on Rithm Capital in a report on Monday, June 8th. They set a "buy" rating and a $14.00 price objective for the company. Piper Sandler lowered their price objective on Rithm Capital from $14.00 to $12.50 and set an "overweight" rating for the company in a research note on Thursday, July 2nd. Citizens Jmp increased their price objective on Rithm Capital from $12.50 to $13.50 and gave the stock a "market outperform" rating in a research note on Wednesday, May 20th. Finally, Weiss Ratings upgraded Rithm Capital from a "sell (d+)" rating to a "hold (c-)" rating in a report on Tuesday. Ten analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, Rithm Capital currently has a consensus rating of "Moderate Buy" and a consensus price target of $13.15.

Rithm Capital Profile

Rithm Capital Corporation is a specialty finance company that originates, acquires and manages structured credit investments collateralized by real estate assets in the United States. The company focuses primarily on senior floating-rate loans secured by multifamily, commercial, industrial and single-family rental properties, aiming to deliver attractive risk-adjusted yields through a diversified portfolio of floating-rate real estate debt.

In addition to senior loans, Rithm Capital invests in residential mortgage-backed securities, including agency and non-agency pools, as well as other real estate-related credit instruments.

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