MGO One Seven LLC Has $9.90 Million Stock Holdings in Rithm Capital Corp. $RITM

Key Points

• MGO One Seven LLC increased its stake in Rithm Capital Corp. by 4.3% during Q2, holding approximately $9.90 million worth of shares.
• Rithm Capital's stock has been given a consensus rating of "Buy" by analysts, with an average target price of $14.25.
• The company recently announced a quarterly dividend of $0.25 per share, which translates to an annualized yield of 9.4%.

MGO One Seven LLC boosted its position in shares of Rithm Capital Corp. (NYSE:RITM - Free Report) by 4.3% during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 876,448 shares of the real estate investment trust's stock after buying an additional 35,841 shares during the quarter. MGO One Seven LLC owned approximately 0.17% of Rithm Capital worth $9,895,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of RITM. Kingstone Capital Partners Texas LLC acquired a new position in Rithm Capital during the 2nd quarter worth $96,027,000. Mackenzie Financial Corp lifted its stake in shares of Rithm Capital by 288.6% in the 1st quarter. Mackenzie Financial Corp now owns 2,725,392 shares of the real estate investment trust's stock valued at $31,206,000 after purchasing an additional 2,024,090 shares during the period. Wellington Management Group LLP lifted its stake in shares of Rithm Capital by 36.3% in the 1st quarter. Wellington Management Group LLP now owns 4,907,737 shares of the real estate investment trust's stock valued at $56,194,000 after purchasing an additional 1,307,276 shares during the period. Nuveen LLC acquired a new position in shares of Rithm Capital in the 1st quarter valued at $14,086,000. Finally, Goldman Sachs Group Inc. lifted its stake in shares of Rithm Capital by 75.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,539,483 shares of the real estate investment trust's stock valued at $17,627,000 after purchasing an additional 662,585 shares during the period. Institutional investors and hedge funds own 44.92% of the company's stock.

Wall Street Analysts Forecast Growth

RITM has been the topic of a number of analyst reports. UBS Group increased 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, September 3rd. Jones Trading increased 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. Weiss Ratings reissued a "buy (b)" rating on shares of Rithm Capital in a research note on Wednesday, October 8th. Wedbush reissued 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 increased 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 nine have given a Buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $14.25.

Rithm Capital Price Performance

RITM opened at $10.66 on Monday. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 1.63. Rithm Capital Corp. has a 12 month low of $9.13 and a 12 month high of $12.74. The company has a fifty day simple moving average of $12.02 and a 200 day simple moving average of $11.51. The stock has a market cap of $5.65 billion, a P/E ratio of 8.20 and a beta of 1.31.

Rithm Capital (NYSE:RITM - Get Free Report) last released its quarterly earnings data on Monday, July 28th. The real estate investment trust reported $0.54 EPS for the quarter, beating analysts' consensus estimates of $0.51 by $0.03. Rithm Capital had a net margin of 16.72% and a return on equity of 18.89%. 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 year.

Rithm Capital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Wednesday, October 1st will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 9.4%. The ex-dividend date is Wednesday, October 1st. 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.

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