Mariner Investment Group LLC Purchases Shares of 50,000 Rithm Capital Corp. $RITM

Key Points

• Mariner Investment Group LLC has acquired 50,000 shares of Rithm Capital Corp., valued at approximately $564,000, during the second quarter.
• Rithm Capital announced a quarterly dividend of $0.25 per share, which will provide an annualized yield of 8.6% to shareholders.
• The stock is currently rated as a "Buy" by several analysts, with price targets ranging from $12.50 to $16.00 per share.

Mariner Investment Group LLC acquired a new stake in shares of Rithm Capital Corp. (NYSE:RITM - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 50,000 shares of the real estate investment trust's stock, valued at approximately $564,000.

A number of other hedge funds also recently made changes to their positions in RITM. SouthState Corp bought a new position in shares of Rithm Capital during the 1st quarter valued at approximately $25,000. Fourth Dimension Wealth LLC grew its position in shares of Rithm Capital by 50.0% during the 1st quarter. Fourth Dimension Wealth LLC now owns 3,000 shares of the real estate investment trust's stock worth $34,000 after buying an additional 1,000 shares in the last quarter. SVB Wealth LLC bought a new position in shares of Rithm Capital during the 1st quarter worth $57,000. GAMMA Investing LLC boosted its position in Rithm Capital by 19.1% during the second quarter. GAMMA Investing LLC now owns 5,528 shares of the real estate investment trust's stock valued at $62,000 after purchasing an additional 887 shares in the last quarter. Finally, Quent Capital LLC boosted its holdings in Rithm Capital by 58.6% in the first quarter. Quent Capital LLC now owns 5,465 shares of the real estate investment trust's stock worth $63,000 after acquiring an additional 2,019 shares in the last quarter. 44.92% of the stock is currently owned by institutional investors.

Rithm Capital Stock Performance

Shares of NYSE:RITM opened at $11.62 on Friday. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.40 and a quick ratio of 0.40. The business's 50 day moving average price is $12.25 and its 200-day moving average price is $11.55. The firm has a market capitalization of $6.16 billion, a PE ratio of 8.94 and a beta of 1.30. Rithm Capital Corp. has a 1 year low of $9.13 and a 1 year high of $12.74.

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, topping analysts' consensus estimates of $0.51 by $0.03. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.18 billion. Rithm Capital had a return on equity of 18.89% and a net margin of 16.72%. As a group, equities research analysts expect that Rithm Capital Corp. will post 1.93 earnings per share for the current fiscal year.

Rithm Capital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Wednesday, October 1st will be given a $0.25 dividend. The ex-dividend date is Wednesday, October 1st. This represents a $1.00 dividend on an annualized basis and a yield of 8.6%. Rithm Capital's payout ratio is currently 76.92%.

Analyst Ratings Changes

Several brokerages have recently issued reports on RITM. Jones Trading raised their price objective on Rithm Capital from $12.50 to $13.50 and gave the stock 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 report on Friday, August 1st. BTIG Research reiterated a "buy" rating and set a $16.00 price target on shares of Rithm Capital in a research report on Wednesday, September 17th. 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 report on Tuesday, July 29th. Finally, Wedbush reiterated an "outperform" rating and set a $14.00 price target on shares of Rithm Capital in a research report on Wednesday, August 6th. One investment analyst has rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the stock. According to data from MarketBeat, Rithm Capital currently has an average rating of "Buy" and an average target price of $14.25.

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.

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