GAMMA Investing LLC Purchases 49,255 Shares of Rithm Capital Corp. (NYSE:RITM)

GAMMA Investing LLC boosted its position in Rithm Capital Corp. (NYSE:RITM - Free Report) by 1,268.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 53,139 shares of the real estate investment trust's stock after purchasing an additional 49,255 shares during the quarter. GAMMA Investing LLC's holdings in Rithm Capital were worth $608,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Norges Bank purchased a new stake in shares of Rithm Capital in the fourth quarter worth $76,082,000. Balyasny Asset Management L.P. grew its stake in shares of 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 worth $70,780,000 after acquiring an additional 2,136,342 shares during the last quarter. First Trust Advisors LP grew its stake in shares of 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 worth $35,793,000 after acquiring an additional 1,451,829 shares during the last quarter. Nomura Holdings Inc. purchased a new stake in shares of Rithm Capital in the fourth quarter worth $13,913,000. Finally, Wells Fargo & Company MN grew its stake in shares of Rithm Capital by 113.9% in the fourth quarter. Wells Fargo & Company MN now owns 1,464,456 shares of the real estate investment trust's stock worth $15,860,000 after acquiring an additional 779,771 shares during the last quarter. Institutional investors own 44.92% of the company's stock.

Rithm Capital Price Performance

NYSE RITM opened at $11.22 on Thursday. Rithm Capital Corp. has a 52 week low of $9.13 and a 52 week high of $12.20. The firm has a market capitalization of $5.95 billion, a P/E ratio of 9.35 and a beta of 1.26. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 1.68. The company has a 50-day moving average price of $11.01 and a 200-day moving average price of $11.22.

Rithm Capital (NYSE:RITM - Get Free Report) last released its quarterly earnings results on Friday, April 25th. The real estate investment trust reported $0.52 EPS for the quarter, beating the consensus estimate of $0.45 by $0.07. Rithm Capital had a net margin of 15.06% and a return on equity of 18.38%. The firm had revenue of $28.89 million during the quarter, compared to analyst estimates of $1.27 billion. During the same quarter in the prior year, the firm earned $0.48 EPS. Equities research 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 declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 8.92%. Rithm Capital's payout ratio is currently 83.33%.

Analyst Ratings Changes

Several equities research analysts recently commented on RITM shares. UBS Group dropped their price objective on Rithm Capital from $14.00 to $13.00 and set a "buy" rating on the stock in a research report on Wednesday, April 16th. Piper Sandler raised Rithm Capital from a "neutral" rating to an "overweight" rating and increased their price objective for the company from $12.50 to $14.00 in a research report on Monday, April 28th. Wedbush reaffirmed an "outperform" rating and set a $14.00 price objective on shares of Rithm Capital in a research report on Monday, May 19th. Jones Trading reaffirmed a "buy" rating and set a $12.50 price objective on shares of Rithm Capital in a research report on Tuesday, April 29th. Finally, Royal Bank Of Canada reaffirmed an "outperform" rating and set a $13.00 price objective on shares of Rithm Capital in a research report on Tuesday, May 20th. Eight analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Buy" and a consensus target price of $13.56.

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.

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