Campbell & CO Investment Adviser LLC Raises Holdings in Rithm Capital Corp. $RITM

Key Points

• Campbell & CO Investment Adviser LLC increased its stake in Rithm Capital Corp. by 143.2%, bringing its total holdings to 163,334 shares valued at approximately $1.87 million.
• Rithm Capital reported a quarterly EPS of $0.54, exceeding expectations, with revenue of $1.22 billion compared to an estimated $1.18 billion.
• Equities analysts have largely upgraded their forecasts for Rithm Capital, with an average target price increase to $14.00, reflecting an overall "Buy" rating.

Campbell & CO Investment Adviser LLC increased its position in Rithm Capital Corp. (NYSE:RITM - Free Report) by 143.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 163,334 shares of the real estate investment trust's stock after acquiring an additional 96,177 shares during the quarter. Campbell & CO Investment Adviser LLC's holdings in Rithm Capital were worth $1,870,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of RITM. SouthState Corp bought a new position in shares of Rithm Capital in the first quarter valued at approximately $25,000. Fourth Dimension Wealth LLC boosted its position in shares of Rithm Capital by 50.0% in the first 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 period. Quarry LP boosted its position in shares of Rithm Capital by 47.5% in the fourth quarter. Quarry LP now owns 4,118 shares of the real estate investment trust's stock valued at $45,000 after acquiring an additional 1,327 shares during the period. SVB Wealth LLC bought a new position in shares of Rithm Capital in the first quarter valued at approximately $57,000. Finally, Quent Capital LLC boosted its position in shares of Rithm Capital by 58.6% in the first 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 period. 44.92% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Jones Trading raised their target price on shares of Rithm Capital from $12.50 to $13.50 and gave the company a "buy" rating in a research note on Tuesday, July 29th. Wedbush reaffirmed an "outperform" rating and issued a $14.00 target price on shares of Rithm Capital in a research note on Wednesday, August 6th. Keefe, Bruyette & Woods raised their target price on shares of Rithm Capital from $13.50 to $14.00 and gave the company an "outperform" rating in a research note on Tuesday, July 29th. Royal Bank Of Canada lifted their price target on shares of Rithm Capital from $13.00 to $14.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. Finally, UBS Group reissued a "buy" rating and set a $14.00 price target (up from $13.00) on shares of Rithm Capital in a research note on Tuesday, July 15th. One equities research analyst has rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the company. Based on data from MarketBeat, Rithm Capital currently has an average rating of "Buy" and an average target price of $14.00.

Rithm Capital Price Performance

RITM stock traded down $0.07 during midday trading on Thursday, hitting $12.29. The company's stock had a trading volume of 3,967,121 shares, compared to its average volume of 5,112,354. 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 firm has a market capitalization of $6.51 billion, a price-to-earnings ratio of 9.45 and a beta of 1.25. Rithm Capital Corp. has a 12 month low of $9.13 and a 12 month high of $12.61. The company has a 50 day moving average of $11.98 and a two-hundred day moving average of $11.50.

Rithm Capital (NYSE:RITM - Get Free Report) last issued its quarterly earnings results on Monday, July 28th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 return on equity of 18.89% and a net margin of 16.72%. On average, analysts expect that Rithm Capital Corp. will post 1.93 EPS for the current year.

Rithm Capital Announces Dividend

The company also recently announced 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. The ex-dividend date of this dividend was Monday, June 30th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.1%. Rithm Capital's payout ratio is 76.92%.

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.