Entropy Technologies LP Acquires 94,607 Shares of Rithm Capital Corp. (NYSE:RITM)

Key Points

• Entropy Technologies LP significantly increased its stake in Rithm Capital Corp. by 103.5%, acquiring an additional 94,607 shares for a total of 185,979 shares valued at approximately $2.13 million.
• Rithm Capital recently reported earnings of $0.54 per share, surpassing expectations and showing a revenue of $1.22 billion for the quarter.
• The company declared a quarterly dividend of $0.25 per share, providing an annual yield of 8.2% with a payout ratio of 76.92%.

Entropy Technologies LP lifted its position in shares of Rithm Capital Corp. (NYSE:RITM - Free Report) by 103.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 185,979 shares of the real estate investment trust's stock after purchasing an additional 94,607 shares during the period. Entropy Technologies LP's holdings in Rithm Capital were worth $2,129,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. Balyasny Asset Management L.P. increased its stake in Rithm Capital by 48.6% in the fourth quarter. Balyasny Asset Management L.P. now owns 6,535,525 shares of the real estate investment trust's stock valued at $70,780,000 after acquiring an additional 2,136,342 shares during the last quarter. Wellington Management Group LLP boosted its position in Rithm Capital by 0.9% in the fourth quarter. Wellington Management Group LLP now owns 3,600,461 shares of the real estate investment trust's stock valued at $38,993,000 after buying an additional 32,544 shares in the last quarter. First Trust Advisors LP boosted its position in Rithm Capital by 78.3% in the fourth quarter. First Trust Advisors LP now owns 3,304,999 shares of the real estate investment trust's stock valued at $35,793,000 after buying an additional 1,451,829 shares in the last quarter. Northern Trust Corp boosted its position in Rithm Capital by 29.6% in the fourth quarter. Northern Trust Corp now owns 3,284,237 shares of the real estate investment trust's stock valued at $35,568,000 after buying an additional 750,656 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its position in Rithm Capital by 288.6% in the first quarter. Mackenzie Financial Corp now owns 2,725,392 shares of the real estate investment trust's stock valued at $31,206,000 after buying an additional 2,024,090 shares in the last quarter. Institutional investors own 44.92% of the company's stock.

Rithm Capital Trading Up 0.6%

RITM opened at $12.26 on Monday. Rithm Capital Corp. has a fifty-two week low of $9.13 and a fifty-two week high of $12.59. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.40 and a quick ratio of 0.40. The firm has a market capitalization of $6.50 billion, a price-to-earnings ratio of 9.43 and a beta of 1.25. The company's 50 day moving average price is $11.67 and its two-hundred day moving average price is $11.42.

Rithm Capital (NYSE:RITM - Get Free Report) last released its quarterly 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 firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.18 billion. As a group, research analysts predict that Rithm Capital Corp. will post 1.93 earnings per share for the current year.

Rithm Capital Dividend Announcement

The company also recently declared 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. The ex-dividend date was Monday, June 30th. This represents a $1.00 annualized dividend and a yield of 8.2%. Rithm Capital's dividend payout ratio (DPR) is presently 76.92%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on RITM shares. Wedbush restated an "outperform" rating and issued a $14.00 target price on shares of Rithm Capital in a research report on Wednesday, August 6th. Royal Bank Of Canada raised their target price on shares of Rithm Capital from $13.00 to $14.00 and gave the company an "outperform" rating in a research report on Friday, August 1st. Piper Sandler upgraded shares of Rithm Capital from a "neutral" rating to an "overweight" rating and raised their target price for the company from $12.50 to $14.00 in a research report on Monday, April 28th. UBS Group restated a "buy" rating and issued a $14.00 target price (up previously from $13.00) on shares of Rithm Capital in a research report on Tuesday, July 15th. Finally, Jones Trading boosted their target price on shares of Rithm Capital from $12.50 to $13.50 and gave the stock a "buy" rating in a report on Tuesday, July 29th. Eight equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus 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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