Rithm Capital Corp. $RITM Shares Bought by Magnetar Financial LLC

Key Points

• Magnetar Financial LLC has significantly increased its holdings in Rithm Capital Corp., acquiring an additional 72,725 shares and bringing its total ownership to 130,832 shares valued at $1,498,000.
• Rithm Capital posted earnings of $0.54 per share for the last quarter, exceeding analysts' expectations, along with revenues of $1.22 billion.
• The company announced a quarterly dividend of $0.25 per share, reflecting an annualized dividend yield of 8.1%, while the stock is currently rated as a "Buy" by several analysts with a target price of $14.00.

Magnetar Financial LLC grew its stake in Rithm Capital Corp. (NYSE:RITM - Free Report) by 125.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 130,832 shares of the real estate investment trust's stock after purchasing an additional 72,725 shares during the period. Magnetar Financial LLC's holdings in Rithm Capital were worth $1,498,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of RITM. Quarry LP increased its holdings in shares of Rithm Capital by 47.5% in the fourth quarter. Quarry LP now owns 4,118 shares of the real estate investment trust's stock valued at $45,000 after purchasing an additional 1,327 shares during the period. The Manufacturers Life Insurance Company increased its holdings in shares of Rithm Capital by 4.5% in the fourth quarter. The Manufacturers Life Insurance Company now owns 130,353 shares of the real estate investment trust's stock valued at $1,412,000 after purchasing an additional 5,654 shares during the period. Northern Trust Corp increased its holdings in shares of Rithm Capital by 29.6% in the fourth quarter. Northern Trust Corp now owns 3,284,237 shares of the real estate investment trust's stock valued at $35,568,000 after purchasing an additional 750,656 shares during the period. Lido Advisors LLC increased its holdings in shares of Rithm Capital by 18.1% in the fourth quarter. Lido Advisors LLC now owns 93,243 shares of the real estate investment trust's stock valued at $1,033,000 after purchasing an additional 14,302 shares during the period. Finally, Schonfeld Strategic Advisors LLC increased its holdings in shares of Rithm Capital by 30.8% in the fourth quarter. Schonfeld Strategic Advisors LLC now owns 78,209 shares of the real estate investment trust's stock valued at $847,000 after purchasing an additional 18,436 shares during the period. Institutional investors and hedge funds own 44.92% of the company's stock.

Rithm Capital Price Performance

Shares of NYSE RITM traded up $0.08 during trading on Wednesday, reaching $12.35. The company had a trading volume of 6,187,376 shares, compared to its average volume of 4,569,696. Rithm Capital Corp. has a twelve month low of $9.13 and a twelve month high of $12.61. The stock has a market capitalization of $6.55 billion, a PE ratio of 9.50 and a beta of 1.30. The stock has a 50-day moving average price of $12.04 and a two-hundred day moving average price of $11.51. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 1.63.

Rithm Capital (NYSE:RITM - Get Free Report) last released its earnings results on Monday, July 28th. The real estate investment trust reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.03. The firm had revenue of $1.22 billion for 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, sell-side analysts predict that Rithm Capital Corp. will post 1.93 earnings per share for the current year.

Rithm Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Monday, June 30th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.1%. Rithm Capital's dividend payout ratio is currently 76.92%.

Analyst Ratings Changes

RITM has been the topic of a number of analyst reports. Jones Trading lifted their price target on Rithm Capital from $12.50 to $13.50 and gave the company a "buy" rating in a research note on Tuesday, July 29th. Royal Bank Of Canada lifted their price target on Rithm Capital from $13.00 to $14.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. UBS Group lifted their price target on Rithm Capital from $14.00 to $16.00 and gave the company a "buy" rating in a research note on Wednesday. Wedbush restated an "outperform" rating and issued a $14.00 price target on shares of Rithm Capital in a research note on Wednesday, August 6th. Finally, Keefe, Bruyette & Woods lifted their price target on Rithm Capital from $13.50 to $14.00 and gave the company an "outperform" rating in a research note on Tuesday, July 29th. One research analyst has rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the company. According to MarketBeat, Rithm Capital currently has a consensus rating of "Buy" and an average price target of $14.25.

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.