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

GAMMA Investing LLC increased 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 Form 13F filing with the Securities & Exchange Commission. The firm 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 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Quarry LP grew its position in shares of Rithm Capital by 47.5% during the 4th quarter. Quarry LP now owns 4,118 shares of the real estate investment trust's stock worth $45,000 after buying an additional 1,327 shares during the period. Quadrant Capital Group LLC lifted its holdings in shares of Rithm Capital by 35.2% during the 4th quarter. Quadrant Capital Group LLC now owns 4,655 shares of the real estate investment trust's stock valued at $50,000 after purchasing an additional 1,211 shares in the last quarter. Quent Capital LLC lifted its holdings in shares of Rithm Capital by 58.6% during the 1st quarter. Quent Capital LLC now owns 5,465 shares of the real estate investment trust's stock valued at $63,000 after purchasing an additional 2,019 shares in the last quarter. C M Bidwell & Associates Ltd. bought a new position in shares of Rithm Capital during the 4th quarter valued at about $81,000. Finally, Versant Capital Management Inc bought a new position in shares of Rithm Capital during the 1st quarter valued at about $98,000. 44.92% of the stock is currently owned by institutional investors and hedge funds.

Rithm Capital Stock Down 0.0%

NYSE RITM traded down $0.01 during trading on Friday, hitting $11.21. The stock had a trading volume of 7,118,603 shares, compared to its average volume of 4,105,369. The company has a market capitalization of $5.94 billion, a PE ratio of 9.34 and a beta of 1.26. The company's 50-day moving average price is $11.07 and its two-hundred day moving average price is $11.22. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.35 and a current ratio of 0.35. Rithm Capital Corp. has a 12 month low of $9.13 and a 12 month high of $12.20.

Rithm Capital (NYSE:RITM - Get Free Report) last posted its quarterly earnings results on Friday, April 25th. The real estate investment trust reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.07. The firm had revenue of $28.89 million for the quarter, compared to analyst estimates of $1.27 billion. Rithm Capital had a return on equity of 18.38% and a net margin of 15.06%. During the same quarter in the previous year, the firm earned $0.48 EPS. As a group, 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 will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.92%. The ex-dividend date of this dividend is Monday, June 30th. Rithm Capital's payout ratio is presently 83.33%.

Wall Street Analysts Forecast Growth

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

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.