Mackenzie Financial Corp Boosts Holdings in Rithm Capital Corp. (NYSE:RITM)

Mackenzie Financial Corp lifted its stake in Rithm Capital Corp. (NYSE:RITM - Free Report) by 288.6% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,725,392 shares of the real estate investment trust's stock after buying an additional 2,024,090 shares during the quarter. Mackenzie Financial Corp owned about 0.51% of Rithm Capital worth $31,206,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the company. Sei Investments Co. boosted its holdings in Rithm Capital by 12.9% during the 4th quarter. Sei Investments Co. now owns 682,516 shares of the real estate investment trust's stock valued at $7,392,000 after acquiring an additional 77,768 shares during the period. Vanguard Group Inc. lifted its stake in shares of Rithm Capital by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 49,008,422 shares of the real estate investment trust's stock worth $530,761,000 after buying an additional 184,802 shares during the period. Elo Mutual Pension Insurance Co purchased a new stake in shares of Rithm Capital in the 4th quarter valued at $205,000. Norges Bank purchased a new stake in Rithm Capital during the fourth quarter worth $76,082,000. Finally, Pictet Asset Management Holding SA lifted its position in shares of Rithm Capital by 20.3% during the 4th quarter. Pictet Asset Management Holding SA now owns 78,904 shares of the real estate investment trust's stock valued at $855,000 after buying an additional 13,315 shares in the last quarter. 44.92% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the stock. Keefe, Bruyette & Woods boosted their target price on shares of Rithm Capital from $13.50 to $14.00 and gave the stock an "outperform" rating in a research note on Tuesday. Jones Trading upped their price objective on shares of Rithm Capital from $12.50 to $13.50 and gave the company a "buy" rating in a research note on Tuesday. Royal Bank Of Canada boosted their target price on Rithm Capital from $13.00 to $14.00 and gave the company an "outperform" rating in a report on Friday. UBS Group reaffirmed a "buy" rating and set a $14.00 price target (up previously from $13.00) on shares of Rithm Capital in a research report on Tuesday, July 15th. Finally, Piper Sandler upgraded Rithm Capital from a "neutral" rating to an "overweight" rating and boosted their price objective for the company from $12.50 to $14.00 in a research note on Monday, April 28th. Eight equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $14.00.

Rithm Capital Stock Performance

Rithm Capital stock traded up $0.02 during mid-day trading on Friday, hitting $12.05. 4,239,371 shares of the company's stock traded hands, compared to its average volume of 4,076,078. Rithm Capital Corp. has a fifty-two week low of $9.13 and a fifty-two week high of $12.59. The stock has a market cap of $6.39 billion, a price-to-earnings ratio of 9.27 and a beta of 1.25. The firm has a 50 day simple moving average of $11.57 and a two-hundred day simple moving average of $11.39. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.35 and a quick ratio of 0.35.

Rithm Capital (NYSE:RITM - Get Free Report) last issued 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. Rithm Capital had a return on equity of 19.07% and a net margin of 16.72%. The business had revenue of $1.22 billion during the quarter, compared to analysts' expectations of $1.18 billion. On average, research analysts expect that Rithm Capital Corp. will post 1.93 EPS for the current fiscal year.

Rithm Capital Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Stockholders 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 dividend yield of 8.3%. Rithm Capital's dividend payout ratio (DPR) is currently 76.92%.

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.