MQS Management LLC Takes Position in Rithm Capital Corp. (NYSE:RITM)

MQS Management LLC acquired a new stake in Rithm Capital Corp. (NYSE:RITM - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 48,051 shares of the real estate investment trust's stock, valued at approximately $550,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Rithm Capital by 0.4% during the 4th quarter. Vanguard Group Inc. now owns 49,008,422 shares of the real estate investment trust's stock valued at $530,761,000 after acquiring an additional 184,802 shares during the period. Geode Capital Management LLC boosted its stake in Rithm Capital by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 8,494,199 shares of the real estate investment trust's stock worth $92,021,000 after acquiring an additional 79,142 shares in the last quarter. Norges Bank bought a new position in Rithm Capital during the fourth quarter worth $76,082,000. Balyasny Asset Management L.P. boosted its stake in Rithm Capital by 48.6% during the fourth quarter. Balyasny Asset Management L.P. now owns 6,535,525 shares of the real estate investment trust's stock worth $70,780,000 after acquiring an additional 2,136,342 shares in the last quarter. Finally, Wellington Management Group LLP boosted its stake in Rithm Capital by 0.9% during the fourth quarter. Wellington Management Group LLP now owns 3,600,461 shares of the real estate investment trust's stock worth $38,993,000 after acquiring an additional 32,544 shares in the last quarter. Institutional investors own 44.92% of the company's stock.

Rithm Capital Price Performance

RITM traded up $0.20 during midday trading on Wednesday, hitting $11.91. The stock had a trading volume of 6,870,265 shares, compared to its average volume of 4,185,121. The company has a market cap of $6.31 billion, a P/E ratio of 9.92 and a beta of 1.25. The business has a fifty day moving average of $11.40 and a 200 day moving average of $11.29. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.35 and a current ratio of 0.35. Rithm Capital Corp. has a 1 year low of $9.13 and a 1 year high of $12.20.

Rithm Capital (NYSE:RITM - Get Free Report) last released its quarterly earnings data on Friday, April 25th. The real estate investment trust reported $0.52 earnings per share for the quarter, beating analysts' consensus estimates of $0.45 by $0.07. The firm had revenue of $28.89 million during the quarter, compared to analyst estimates of $1.27 billion. Rithm Capital had a return on equity of 18.38% and a net margin of 15.06%. During the same quarter in the prior year, the firm posted $0.48 earnings per share. As a group, equities analysts forecast that Rithm Capital Corp. will post 1.93 earnings per share for the current fiscal year.

Rithm Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.40%. Rithm Capital's dividend payout ratio is presently 83.33%.

Analyst Upgrades and Downgrades

RITM has been the subject of several research reports. Jones Trading reissued a "buy" rating and issued a $12.50 price target on shares of Rithm Capital in a research report on Tuesday, April 29th. Piper Sandler upgraded shares of Rithm Capital from a "neutral" rating to an "overweight" rating and upped their target price for the stock from $12.50 to $14.00 in a research note on Monday, April 28th. UBS Group reissued a "buy" rating and issued a $14.00 price target (up from $13.00) on shares of Rithm Capital in a report on Tuesday. Royal Bank Of Canada reissued an "outperform" rating and issued a $13.00 price target on shares of Rithm Capital in a report on Tuesday, May 20th. Finally, Wedbush reissued an "outperform" rating and issued a $14.00 price target on shares of Rithm Capital in a report on Monday, May 19th. 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, Rithm Capital currently has a consensus rating of "Buy" and an average target price of $13.69.

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.