Bank of New York Mellon Corp Has $22.22 Million Stake in Rithm Capital Corp. (NYSE:RITM)

Bank of New York Mellon Corp grew its stake in Rithm Capital Corp. (NYSE:RITM - Free Report) by 1.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,940,292 shares of the real estate investment trust's stock after purchasing an additional 23,839 shares during the period. Bank of New York Mellon Corp owned about 0.37% of Rithm Capital worth $22,216,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of RITM. Fourth Dimension Wealth LLC lifted its holdings in shares of Rithm Capital by 50.0% during the 1st 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 during the period. Quarry LP lifted its holdings in shares of Rithm Capital by 47.5% during the 4th quarter. Quarry LP now owns 4,118 shares of the real estate investment trust's stock worth $45,000 after acquiring an additional 1,327 shares during the period. Quadrant Capital Group LLC lifted its holdings in shares of Rithm Capital by 35.2% during the 4th quarter. Quadrant Capital Group LLC now owns 4,655 shares of the real estate investment trust's stock worth $50,000 after acquiring an additional 1,211 shares during the period. Quent Capital LLC lifted its holdings in shares of Rithm Capital by 58.6% during the 1st quarter. Quent Capital LLC now owns 5,465 shares of the real estate investment trust's stock worth $63,000 after acquiring an additional 2,019 shares during the period. Finally, Rossby Financial LCC bought a new position in shares of Rithm Capital during the 1st quarter worth about $79,000. 44.92% of the stock is currently owned by institutional investors and hedge funds.

Rithm Capital Price Performance

RITM traded up $0.03 during midday trading on Friday, hitting $11.94. The company had a trading volume of 4,654,352 shares, compared to its average volume of 4,195,664. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.35 and a current ratio of 0.35. The company has a market capitalization of $6.33 billion, a PE ratio of 9.95 and a beta of 1.25. Rithm Capital Corp. has a twelve month low of $9.13 and a twelve month high of $12.20. The firm's 50-day simple moving average is $11.43 and its 200-day simple moving average is $11.30.

Rithm Capital (NYSE:RITM - Get Free Report) last posted its quarterly earnings data on Friday, April 25th. The real estate investment trust reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.07. The firm had revenue of $28.89 million during the quarter, compared to analysts' expectations of $1.27 billion. Rithm Capital had a net margin of 15.06% and a return on equity of 18.38%. During the same quarter last year, the company posted $0.48 EPS. Equities research analysts predict that Rithm Capital Corp. will post 1.93 EPS for the current fiscal year.

Rithm Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 8.38%. The ex-dividend date of this dividend is Monday, June 30th. Rithm Capital's payout ratio is presently 83.33%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Piper Sandler raised shares of Rithm Capital from a "neutral" rating to an "overweight" rating and raised their price objective for the stock from $12.50 to $14.00 in a report on Monday, April 28th. Jones Trading reissued a "buy" rating and set a $12.50 price target on shares of Rithm Capital in a report on Tuesday, April 29th. Royal Bank Of Canada reissued an "outperform" rating and set a $13.00 price target on shares of Rithm Capital in a report on Tuesday, May 20th. BTIG Research reissued a "buy" rating and set a $16.00 price target on shares of Rithm Capital in a report on Friday, April 25th. Finally, Wedbush reissued an "outperform" rating and set a $14.00 price target on shares of Rithm Capital in a report on Monday, May 19th. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, Rithm Capital currently has an average rating of "Buy" and an average target price of $13.69.

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.