Federated Hermes Inc. Makes New $1.76 Million Investment in Rithm Capital Corp. (NYSE:RITM)

Federated Hermes Inc. bought a new position in Rithm Capital Corp. (NYSE:RITM - Free Report) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 153,451 shares of the real estate investment trust's stock, valued at approximately $1,757,000.

A number of other large investors have also added to or reduced their stakes in the company. Fourth Dimension Wealth LLC increased its holdings in shares of Rithm Capital by 50.0% during 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 in the last quarter. Quarry LP increased its holdings in shares of Rithm Capital by 47.5% during the fourth quarter. Quarry LP now owns 4,118 shares of the real estate investment trust's stock valued at $45,000 after acquiring an additional 1,327 shares in the last quarter. Quadrant Capital Group LLC increased its holdings in shares of Rithm Capital by 35.2% during the fourth quarter. Quadrant Capital Group LLC now owns 4,655 shares of the real estate investment trust's stock valued at $50,000 after acquiring an additional 1,211 shares in the last quarter. Quent Capital LLC increased its holdings in shares of Rithm Capital by 58.6% during the first quarter. Quent Capital LLC now owns 5,465 shares of the real estate investment trust's stock valued at $63,000 after acquiring an additional 2,019 shares in the last quarter. Finally, CWM LLC increased its holdings in shares of Rithm Capital by 25.5% during the first quarter. CWM LLC now owns 6,046 shares of the real estate investment trust's stock valued at $69,000 after acquiring an additional 1,228 shares in the last quarter. 44.92% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on RITM shares. Royal Bank Of Canada upped their price objective 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. UBS Group restated a "buy" rating and set a $14.00 price objective (up from $13.00) on shares of Rithm Capital in a research note on Tuesday, July 15th. BTIG Research reaffirmed a "buy" rating and issued a $16.00 price objective on shares of Rithm Capital in a report on Friday, April 25th. Wedbush reiterated an "outperform" rating and issued a $14.00 price objective on shares of Rithm Capital in a research note on Monday, May 19th. Finally, Jones Trading increased their price objective 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. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Rithm Capital presently has an average rating of "Buy" and a consensus price target of $14.00.

Rithm Capital Trading Up 0.7%

Rithm Capital stock opened at $12.29 on Wednesday. The company has a current ratio of 0.40, a quick ratio of 0.35 and a debt-to-equity ratio of 1.63. Rithm Capital Corp. has a 12 month low of $9.13 and a 12 month high of $12.59. The stock's 50 day simple moving average is $11.61 and its two-hundred day simple moving average is $11.40. The firm has a market cap of $6.52 billion, a PE ratio of 9.45 and a beta of 1.25.

Rithm Capital (NYSE:RITM - Get Free Report) last released 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 business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.18 billion. 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 announced a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Monday, June 30th were given a dividend of $0.25 per share. The ex-dividend date 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 (DPR) is 76.92%.

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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