Dynamic Technology Lab Private Ltd Takes $455,000 Position in Rithm Capital Corp. $RITM

Key Points

• Dynamic Technology Lab Private Ltd has acquired a new position in Rithm Capital Corp., purchasing 39,707 shares valued at approximately $455,000 in the first quarter.
• Rithm Capital has recently declared a quarterly dividend of $0.25 per share, resulting in an annualized dividend yield of 8.0% with a dividend payout ratio of 76.92%.
• Analysts have issued a consensus rating of "Buy" for Rithm Capital, with a target price around $14.25, indicating potential upside for the stock.

Dynamic Technology Lab Private Ltd acquired a new position in shares of Rithm Capital Corp. (NYSE:RITM - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 39,707 shares of the real estate investment trust's stock, valued at approximately $455,000.

Other institutional investors and hedge funds have also modified their holdings of the company. PharVision Advisers LLC raised its stake in shares of Rithm Capital by 288.6% during the 1st quarter. PharVision Advisers LLC now owns 45,505 shares of the real estate investment trust's stock worth $521,000 after purchasing an additional 33,795 shares in the last quarter. NewEdge Advisors LLC boosted its stake in Rithm Capital by 5.3% in the first quarter. NewEdge Advisors LLC now owns 31,311 shares of the real estate investment trust's stock valued at $359,000 after buying an additional 1,585 shares in the last quarter. AQR Capital Management LLC raised its position in Rithm Capital by 20.4% in the first quarter. AQR Capital Management LLC now owns 77,625 shares of the real estate investment trust's stock valued at $889,000 after purchasing an additional 13,166 shares during the last quarter. Amundi raised its position in Rithm Capital by 3.4% in the first quarter. Amundi now owns 1,304,678 shares of the real estate investment trust's stock valued at $14,678,000 after purchasing an additional 42,683 shares during the last quarter. Finally, FJ Capital Management LLC bought a new position in shares of Rithm Capital during the first quarter worth about $1,943,000. 44.92% of the stock is currently owned by institutional investors and hedge funds.

Rithm Capital Price Performance

RITM stock remained flat at $12.38 on Monday. The company had a trading volume of 5,702,005 shares, compared to its average volume of 4,581,770. The company has a market cap of $6.57 billion, a P/E ratio of 9.52 and a beta of 1.30. The firm's 50 day simple moving average is $12.20 and its two-hundred day simple moving average is $11.53. Rithm Capital Corp. has a one year low of $9.13 and a one year high of $12.74. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.40 and a current ratio of 0.40.

Rithm Capital (NYSE:RITM - Get Free Report) last issued 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. 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 during the quarter, compared to analyst estimates of $1.18 billion. On average, sell-side analysts forecast that Rithm Capital Corp. will post 1.93 EPS for the current year.

Rithm Capital Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Monday, June 30th were paid 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 dividend payout ratio is currently 76.92%.

Analysts Set New Price Targets

A number of brokerages have weighed in on RITM. UBS Group lifted their target price on Rithm Capital from $14.00 to $16.00 and gave the stock a "buy" rating in a report on Wednesday, September 3rd. Wedbush reaffirmed an "outperform" rating and set a $14.00 target price on shares of Rithm Capital in a research report on Wednesday, August 6th. Royal Bank Of Canada lifted their price target on Rithm Capital from $13.00 to $14.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. Keefe, Bruyette & Woods lifted their price target on Rithm Capital from $13.50 to $14.00 and gave the stock an "outperform" rating in a report on Tuesday, July 29th. Finally, Jones Trading upped their price target on Rithm Capital from $12.50 to $13.50 and gave the company a "buy" rating in a research report 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. According to data from MarketBeat, Rithm Capital has a consensus rating of "Buy" and a consensus 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.