Caxton Associates LLP Acquires New Holdings in Rithm Capital Corp. $RITM

Key Points

• Caxton Associates LLP invested approximately $4.36 million in Rithm Capital Corp. by purchasing 380,922 shares, marking a notable new position in the company.
• Rithm Capital recently reported earnings of $0.54 per share, exceeding analysts' expectations, and generated revenue of $1.22 billion, indicating strong financial performance.
• The company announced a quarterly dividend of $0.25, which equates to a 7.9% dividend yield, reflecting its commitment to returning capital to shareholders.

Caxton Associates LLP bought a new stake in shares of Rithm Capital Corp. (NYSE:RITM - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The fund bought 380,922 shares of the real estate investment trust's stock, valued at approximately $4,362,000. Caxton Associates LLP owned approximately 0.07% of Rithm Capital as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in RITM. SouthState Corp acquired a new stake in shares of Rithm Capital during the 1st quarter valued at about $25,000. Fourth Dimension Wealth LLC boosted its position 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 in the last quarter. SVB Wealth LLC bought a new position in Rithm Capital during the 1st quarter valued at about $57,000. Quent Capital LLC lifted its holdings in 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 purchasing an additional 2,019 shares during the last quarter. Finally, CWM LLC lifted its holdings in 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 purchasing an additional 1,228 shares during the last quarter. 44.92% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on RITM. 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. Keefe, Bruyette & Woods lifted their price target on shares of Rithm Capital from $13.50 to $14.00 and gave the company an "outperform" rating in a report on Tuesday, July 29th. Wedbush reissued an "outperform" rating and set a $14.00 price target on shares of Rithm Capital in a report on Wednesday, August 6th. Jones Trading lifted their price target on shares of Rithm Capital from $12.50 to $13.50 and gave the company a "buy" rating in a report on Tuesday, July 29th. Finally, Royal Bank Of Canada lifted their price target on shares of Rithm Capital from $13.00 to $14.00 and gave the company an "outperform" rating in a report on Friday, August 1st. One analyst has rated the stock with a Strong Buy rating and eight have issued a Buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $14.25.

Rithm Capital Trading Down 1.3%

Shares of RITM traded down $0.16 on Friday, reaching $12.38. 4,028,655 shares of the company's stock were exchanged, compared to its average volume of 4,563,632. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 1.63. The stock has a market capitalization of $6.57 billion, a P/E ratio of 9.52 and a beta of 1.30. The business has a 50 day moving average price of $12.19 and a two-hundred day moving average price of $11.54. Rithm Capital Corp. has a 12 month low of $9.13 and a 12 month high of $12.74.

Rithm Capital (NYSE:RITM - Get Free Report) last posted its quarterly earnings results on Monday, July 28th. The real estate investment trust reported $0.54 earnings per share for the quarter, topping analysts' consensus estimates of $0.51 by $0.03. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.18 billion. Rithm Capital had a net margin of 16.72% and a return on equity of 18.89%. Research analysts anticipate that Rithm Capital Corp. will post 1.93 earnings per share for the current year.

Rithm Capital Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, June 30th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.1%. The ex-dividend date of this dividend was Monday, June 30th. 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.