FJ Capital Management LLC Takes Position in Rithm Capital Corp. $RITM

Key Points

• FJ Capital Management LLC has invested approximately $1.94 million in Rithm Capital Corp., acquiring 169,719 shares of the company during the first quarter.
• Hedge funds continue to increase their positions in Rithm Capital, with Balyasny Asset Management L.P. boosting its holdings by 48.6% in the fourth quarter, now owning over 6.5 million shares.
• Rithm Capital recently reported an EPS of $0.54 for the last quarter, exceeding analyst estimates, while also declaring a quarterly dividend of $0.25 per share, yielding 8.1%.

FJ Capital Management LLC purchased a new position in shares of Rithm Capital Corp. (NYSE:RITM - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 169,719 shares of the real estate investment trust's stock, valued at approximately $1,943,000.

Several other institutional investors have also recently made changes to their positions in the stock. Sheaff Brock Investment Advisors LLC increased its position in shares of Rithm Capital by 8.8% during the 1st quarter. Sheaff Brock Investment Advisors LLC now owns 11,725 shares of the real estate investment trust's stock worth $134,000 after purchasing an additional 945 shares during the last quarter. Private Advisor Group LLC increased its position in shares of 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 during the last quarter. Fourth Dimension Wealth LLC boosted its stake in shares of 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 acquiring an additional 1,000 shares during the period. Vident Advisory LLC increased its holdings in shares of 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 acquiring an additional 1,051 shares during the last quarter. Finally, Townsquare Capital LLC increased its holdings in shares of 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 acquiring an additional 1,088 shares during the last quarter. Institutional investors and hedge funds own 44.92% of the company's stock.

Analyst Ratings Changes

RITM has been the topic of a number of recent analyst reports. UBS Group boosted their target price on Rithm Capital from $14.00 to $16.00 and gave the stock a "buy" rating in a report on Wednesday. Royal Bank Of Canada boosted their target price on Rithm Capital from $13.00 to $14.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. Jones Trading boosted their target price on Rithm Capital from $12.50 to $13.50 and gave the stock a "buy" rating in a report on Tuesday, July 29th. Keefe, Bruyette & Woods boosted their target price on Rithm Capital from $13.50 to $14.00 and gave the stock an "outperform" rating in a report on Tuesday, July 29th. Finally, Wedbush reissued an "outperform" rating and set a $14.00 target price on shares of Rithm Capital in a report on Wednesday, August 6th. One investment 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.com, Rithm Capital presently has a consensus rating of "Buy" and an average target price of $14.25.

Rithm Capital Stock Performance

RITM traded up $0.05 during trading on Friday, hitting $12.61. The stock had a trading volume of 4,949,686 shares, compared to its average volume of 4,939,353. The company has a 50 day moving average price of $12.11 and a 200-day moving average price of $11.52. The firm has a market cap of $6.68 billion, a price-to-earnings ratio of 9.70 and a beta of 1.30. 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 current ratio of 0.40 and a quick ratio of 0.40.

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, beating the consensus estimate of $0.51 by $0.03. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.18 billion. Rithm Capital had a return on equity of 18.89% and a net margin of 16.72%. As a group, research analysts predict that Rithm Capital Corp. will post 1.93 EPS for the current year.

Rithm Capital Announces Dividend

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