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

MQS Management LLC purchased a new stake in shares of Rithm Capital Corp. (NYSE:RITM - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 48,051 shares of the real estate investment trust's stock, valued at approximately $550,000.

A number of other institutional investors also recently added to or reduced their stakes in RITM. Fourth Dimension Wealth LLC grew its stake in shares of Rithm Capital by 50.0% during the first quarter. Fourth Dimension Wealth LLC now owns 3,000 shares of the real estate investment trust's stock worth $34,000 after acquiring an additional 1,000 shares during the last quarter. Quarry LP lifted its holdings in shares of Rithm Capital by 47.5% during the fourth quarter. Quarry LP now owns 4,118 shares of the real estate investment trust's stock worth $45,000 after purchasing an additional 1,327 shares during the period. Quadrant Capital Group LLC lifted its holdings in shares of Rithm Capital by 35.2% during the fourth quarter. Quadrant Capital Group LLC now owns 4,655 shares of the real estate investment trust's stock worth $50,000 after purchasing an additional 1,211 shares during the period. Quent Capital LLC lifted its holdings in shares of Rithm Capital by 58.6% during the first quarter. Quent Capital LLC now owns 5,465 shares of the real estate investment trust's stock worth $63,000 after purchasing an additional 2,019 shares during the period. Finally, CWM LLC lifted its holdings in shares of Rithm Capital by 25.5% during the first quarter. CWM LLC now owns 6,046 shares of the real estate investment trust's stock worth $69,000 after purchasing an additional 1,228 shares during the period. Institutional investors own 44.92% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. UBS Group decreased their target price on Rithm Capital from $14.00 to $13.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. Wedbush restated an "outperform" rating and issued a $14.00 price objective on shares of Rithm Capital in a research report on Monday, May 19th. BTIG Research reiterated a "buy" rating and set a $16.00 price target on shares of Rithm Capital in a research report on Friday, April 25th. Piper Sandler upgraded Rithm Capital from a "neutral" rating to an "overweight" rating and boosted their price target for the stock from $12.50 to $14.00 in a research report on Monday, April 28th. Finally, Royal Bank Of Canada reiterated an "outperform" rating and set a $13.00 price target on shares of Rithm Capital in a research report on Tuesday, May 20th. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average target price of $13.56.

Rithm Capital Price Performance

RITM opened at $11.67 on Friday. The stock's 50-day moving average price is $11.37 and its 200 day moving average price is $11.27. Rithm Capital Corp. has a 12-month low of $9.13 and a 12-month high of $12.20. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 1.68. The firm has a market cap of $6.19 billion, a price-to-earnings ratio of 9.73 and a beta of 1.25.

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

Rithm Capital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 8.57%. The ex-dividend date of this dividend is Monday, June 30th. Rithm Capital's dividend payout ratio is currently 83.33%.

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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