Cubist Systematic Strategies LLC Buys Shares of 640,786 Rithm Capital Corp. $RITM

Key Points

• Cubist Systematic Strategies LLC has invested approximately $7.34 million in Rithm Capital Corp by purchasing 640,786 shares, representing 0.12% of the company.
• Analysts have generally rated Rithm Capital stock positively, with a consensus target price of $14.00 and several brokerages issuing "buy" or "outperform" ratings.
• Rithm Capital announced a quarterly dividend of $0.25 per share, reflecting an annualized yield of 8.2% and a payout ratio of 76.92%.

Cubist Systematic Strategies LLC purchased a new stake in Rithm Capital Corp. (NYSE:RITM - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 640,786 shares of the real estate investment trust's stock, valued at approximately $7,337,000. Cubist Systematic Strategies LLC owned 0.12% of Rithm Capital at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Sheaff Brock Investment Advisors LLC lifted its stake in shares of Rithm Capital by 8.8% in the 1st quarter. Sheaff Brock Investment Advisors LLC now owns 11,725 shares of the real estate investment trust's stock valued at $134,000 after purchasing an additional 945 shares in the last quarter. Private Advisor Group LLC increased its position in Rithm Capital by 2.0% during the 1st quarter. Private Advisor Group LLC now owns 50,461 shares of the real estate investment trust's stock worth $578,000 after purchasing an additional 974 shares in the last quarter. Fourth Dimension Wealth LLC increased its position in 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 purchasing an additional 1,000 shares in the last quarter. Vident Advisory LLC increased its position in Rithm Capital by 7.3% during the 4th quarter. Vident Advisory LLC now owns 15,509 shares of the real estate investment trust's stock worth $168,000 after purchasing an additional 1,051 shares in the last quarter. Finally, Townsquare Capital LLC increased its position in Rithm Capital by 3.7% during the 1st quarter. Townsquare Capital LLC now owns 30,439 shares of the real estate investment trust's stock worth $349,000 after purchasing an additional 1,088 shares in the last quarter. Hedge funds and other institutional investors own 44.92% of the company's stock.

Rithm Capital Stock Performance

NYSE:RITM traded down $0.04 during trading hours on Monday, reaching $12.59. 861,482 shares of the stock were exchanged, compared to its average volume of 4,552,654. 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 50 day simple moving average of $12.11 and a 200-day simple moving average of $11.52. Rithm Capital Corp. has a 52 week low of $9.13 and a 52 week high of $12.74. The stock has a market capitalization of $6.67 billion, a P/E ratio of 9.68 and a beta of 1.30.

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

Rithm Capital Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, June 30th were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $1.00 annualized dividend and a dividend yield of 7.9%. Rithm Capital's dividend payout ratio (DPR) is 76.92%.

Analysts Set New Price Targets

A number of analysts recently issued reports on RITM shares. Royal Bank Of Canada increased their target price on shares of Rithm Capital from $13.00 to $14.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. Wedbush reiterated 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 increased their target price on Rithm Capital from $13.50 to $14.00 and gave the company an "outperform" rating in a research note on Tuesday, July 29th. UBS Group increased their target price on Rithm Capital from $14.00 to $16.00 and gave the company a "buy" rating in a research note on Wednesday, September 3rd. Finally, Jones Trading increased their target price on Rithm Capital from $12.50 to $13.50 and gave the company a "buy" rating in a research note on Tuesday, July 29th. One analyst has rated the stock with a Strong Buy rating and eight have issued a Buy rating to the company. Based on data from MarketBeat.com, Rithm Capital currently has an average rating of "Buy" and a consensus target price of $14.25.

About Rithm Capital

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.