Graham Capital Management L.P. Reduces Position in Rithm Capital Corp. $RITM

Key Points

• Graham Capital Management L.P. reduced its position in Rithm Capital Corp. by 19.3%, now holding 155,201 shares valued at approximately $1.78 million.
• Multiple institutional investors, such as KBC Group NV and Edgestream Partners L.P., have increased their holdings in Rithm Capital, indicating potential institutional confidence in the company.
• Analysts have set a consensus target price of $14.00 for Rithm Capital, with most ratings being either "buy" or "outperform."

Graham Capital Management L.P. reduced its position in shares of Rithm Capital Corp. (NYSE:RITM - Free Report) by 19.3% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 155,201 shares of the real estate investment trust's stock after selling 37,167 shares during the quarter. Graham Capital Management L.P.'s holdings in Rithm Capital were worth $1,777,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Sheaff Brock Investment Advisors LLC raised its stake in 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 buying an additional 945 shares during the period. Private Advisor Group LLC boosted its position in shares of Rithm Capital by 2.0% during the first quarter. Private Advisor Group LLC now owns 50,461 shares of the real estate investment trust's stock valued at $578,000 after buying an additional 974 shares during the last quarter. Fourth Dimension Wealth LLC boosted its position 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 buying an additional 1,000 shares during the last quarter. Vident Advisory LLC boosted its position in shares of Rithm Capital by 7.3% during the fourth quarter. Vident Advisory LLC now owns 15,509 shares of the real estate investment trust's stock valued at $168,000 after buying an additional 1,051 shares during the last quarter. Finally, Townsquare Capital LLC grew its holdings in Rithm Capital by 3.7% during the first quarter. Townsquare Capital LLC now owns 30,439 shares of the real estate investment trust's stock worth $349,000 after buying an additional 1,088 shares in the last quarter. 44.92% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RITM has been the subject of several recent research reports. UBS Group upped their price target on Rithm Capital from $14.00 to $16.00 and gave the stock a "buy" rating in a report on Wednesday, September 3rd. Jones Trading upped their price target on Rithm Capital from $12.50 to $13.50 and gave the stock a "buy" rating in a report on Tuesday, July 29th. Royal Bank Of Canada upped their price target on Rithm Capital from $13.00 to $14.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. Wedbush reiterated an "outperform" rating and set a $14.00 price target on shares of Rithm Capital in a report on Wednesday, August 6th. Finally, Keefe, Bruyette & Woods upped their price target on Rithm Capital from $13.50 to $14.00 and gave the stock an "outperform" rating in a report on Tuesday, July 29th. One analyst has rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the company's stock. Based on data from MarketBeat.com, Rithm Capital has an average rating of "Buy" and a consensus price target of $14.25.

Rithm Capital Stock Performance

NYSE:RITM traded down $0.04 during trading on Monday, reaching $12.59. The company's stock had a trading volume of 861,482 shares, compared to its average volume of 4,552,654. The firm has a market cap of $6.67 billion, a price-to-earnings ratio of 9.68 and a beta of 1.30. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.40 and a current ratio of 0.40. The firm has a 50 day moving average of $12.11 and a 200-day moving average of $11.52. Rithm Capital Corp. has a 12 month low of $9.13 and a 12 month high of $12.74.

Rithm Capital (NYSE:RITM - Get Free Report) last announced its quarterly earnings data on Monday, July 28th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.51 by $0.03. The firm 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%. Research analysts expect that Rithm Capital Corp. will post 1.93 EPS for the current fiscal year.

Rithm Capital Dividend Announcement

The firm also recently disclosed 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 of this dividend was Monday, June 30th. This represents a $1.00 annualized dividend and a yield of 7.9%. Rithm Capital's dividend payout ratio is 76.92%.

About Rithm Capital

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.