Credit Agricole S A Increases Stake in Rithm Capital Corp. $RITM

Key Points

• Credit Agricole S A has significantly increased its stake in Rithm Capital Corp. by 341.6%, acquiring an additional 106,029 shares, bringing its total holdings to 137,064 shares valued at approximately $1.57 million.
• Rithm Capital's stock has experienced a 2.9% increase, with recent earnings per share reported at $0.54, surpassing analysts' expectations.
• The company announced a quarterly dividend of $0.25 per share, which indicates an annualized dividend yield of 8.0%.

Credit Agricole S A grew its position in Rithm Capital Corp. (NYSE:RITM - Free Report) by 341.6% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 137,064 shares of the real estate investment trust's stock after acquiring an additional 106,029 shares during the quarter. Credit Agricole S A's holdings in Rithm Capital were worth $1,569,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Sheaff Brock Investment Advisors LLC raised its stake in shares of Rithm Capital by 8.8% in the first quarter. Sheaff Brock Investment Advisors LLC now owns 11,725 shares of the real estate investment trust's stock valued at $134,000 after acquiring an additional 945 shares during the period. Private Advisor Group LLC raised its stake in shares of Rithm Capital by 2.0% in the first quarter. Private Advisor Group LLC now owns 50,461 shares of the real estate investment trust's stock valued at $578,000 after acquiring an additional 974 shares during the period. Fourth Dimension Wealth LLC raised its stake 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. Vident Advisory LLC raised its stake in shares of Rithm Capital by 7.3% in the fourth quarter. Vident Advisory LLC now owns 15,509 shares of the real estate investment trust's stock valued at $168,000 after acquiring an additional 1,051 shares during the period. Finally, Townsquare Capital LLC raised its stake in shares of Rithm Capital by 3.7% in the first quarter. Townsquare Capital LLC now owns 30,439 shares of the real estate investment trust's stock valued at $349,000 after acquiring an additional 1,088 shares during the period. Hedge funds and other institutional investors own 44.92% of the company's stock.

Rithm Capital Stock Up 2.9%

Shares of Rithm Capital stock opened at $12.5550 on Monday. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.40 and a quick ratio of 0.40. Rithm Capital Corp. has a 1 year low of $9.13 and a 1 year high of $12.60. The firm's 50-day moving average is $11.88 and its two-hundred day moving average is $11.48. The stock has a market cap of $6.66 billion, a price-to-earnings ratio of 9.66 and a beta of 1.25.

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

Rithm Capital Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, June 30th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 8.0%. The ex-dividend date was Monday, June 30th. Rithm Capital's dividend payout ratio is presently 76.92%.

Analyst Ratings Changes

Several research firms recently commented on RITM. Piper Sandler raised shares of Rithm Capital from a "neutral" rating to an "overweight" rating and raised their price target for the stock from $12.50 to $14.00 in a research note on Monday, April 28th. UBS Group reaffirmed a "buy" rating and issued a $14.00 price target (up previously from $13.00) on shares of Rithm Capital in a research note on Tuesday, July 15th. Royal Bank Of Canada raised 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. Jones Trading raised their price target on shares of Rithm Capital from $12.50 to $13.50 and gave the stock a "buy" rating in a research note on Tuesday, July 29th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Rithm Capital from $13.50 to $14.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating and eight have issued a Buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus target price of $14.00.

Rithm Capital Company 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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