Belpointe Asset Management LLC Raises Stock Position in Rithm Capital Corp. $RITM

Key Points

• Belpointe Asset Management LLC increased its stake in Rithm Capital Corp. by 84.2% in Q1, owning 54,520 shares valued at approximately $624,000.
• Rithm Capital announced a quarterly dividend of $0.25, amounting to a dividend yield of 8.1%, with a payout ratio of 76.92%.
• Analysts have set a new price target for Rithm Capital, with estimates raised to as high as $16.00, indicating a positive outlook for the stock.

Belpointe Asset Management LLC increased its holdings in Rithm Capital Corp. (NYSE:RITM - Free Report) by 84.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 54,520 shares of the real estate investment trust's stock after acquiring an additional 24,920 shares during the quarter. Belpointe Asset Management LLC's holdings in Rithm Capital were worth $624,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently modified their holdings of the company. SouthState Corp bought a new position in shares of Rithm Capital in the 1st quarter worth about $25,000. Fourth Dimension Wealth LLC boosted 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 valued at $34,000 after acquiring an additional 1,000 shares during the last quarter. SVB Wealth LLC purchased a new stake in shares of Rithm Capital during the 1st quarter valued at about $57,000. Quent Capital LLC boosted 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 valued at $63,000 after acquiring an additional 2,019 shares during the last quarter. Finally, CWM LLC boosted its holdings in shares of Rithm Capital by 25.5% during the 1st quarter. CWM LLC now owns 6,046 shares of the real estate investment trust's stock valued at $69,000 after acquiring an additional 1,228 shares during the last quarter. 44.92% of the stock is currently owned by institutional investors.

Rithm Capital Stock Down 1.3%

NYSE RITM opened at $12.38 on Friday. 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 fifty day moving average of $12.20 and a two-hundred day moving average of $11.54. The firm has a market capitalization of $6.56 billion, a price-to-earnings ratio of 9.52 and a beta of 1.30. 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 posted 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 analyst estimates of $1.18 billion. Rithm Capital had a net margin of 16.72% and a return on equity of 18.89%. On average, analysts predict that Rithm Capital Corp. will post 1.93 earnings per share for the current year.

Rithm Capital Announces Dividend

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

Analysts Set New Price Targets

A number of equities analysts recently issued reports on RITM shares. 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. Wedbush reissued an "outperform" rating and issued a $14.00 price objective on shares of Rithm Capital in a report on Wednesday, August 6th. 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. Jones Trading raised their price objective on shares of Rithm Capital from $12.50 to $13.50 and gave the stock a "buy" rating in a report on Tuesday, July 29th. Finally, UBS Group lifted their price target on shares of Rithm Capital from $14.00 to $16.00 and gave the company a "buy" rating in a report on Wednesday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating and eight have given a Buy rating to the company. According to MarketBeat.com, Rithm Capital has a consensus rating of "Buy" and an average price target 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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