Nuveen LLC Invests $14.09 Million in Rithm Capital Corp. $RITM

Key Points

• Nuveen LLC acquired 1,230,253 shares of Rithm Capital Corp. during the first quarter, worth approximately $14.1 million, representing about 0.23% of the company's stock.
• Rithm Capital recently announced a quarterly dividend of $0.25, equating to an annualized dividend of $1.00 and a yield of 8.2%, with a payout ratio of 76.92%.
• Analysts maintain a positive outlook on Rithm Capital, with several firms giving "buy" ratings and setting a consensus price target of $14.00.

Nuveen LLC acquired a new stake in Rithm Capital Corp. (NYSE:RITM - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 1,230,253 shares of the real estate investment trust's stock, valued at approximately $14,086,000. Nuveen LLC owned 0.23% of Rithm Capital as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Barclays PLC raised its position in Rithm Capital by 1.2% during the fourth quarter. Barclays PLC now owns 219,670 shares of the real estate investment trust's stock valued at $2,379,000 after acquiring an additional 2,701 shares in the last quarter. KBC Group NV increased its stake in shares of Rithm Capital by 24.0% during the 1st quarter. KBC Group NV now owns 22,846 shares of the real estate investment trust's stock worth $262,000 after purchasing an additional 4,423 shares during the last quarter. Edgestream Partners L.P. raised its holdings in shares of Rithm Capital by 341.5% during the 1st quarter. Edgestream Partners L.P. now owns 688,882 shares of the real estate investment trust's stock valued at $7,888,000 after purchasing an additional 532,866 shares in the last quarter. Amalgamated Bank lifted its stake in shares of Rithm Capital by 5.9% in the 1st quarter. Amalgamated Bank now owns 27,064 shares of the real estate investment trust's stock valued at $310,000 after purchasing an additional 1,502 shares during the last quarter. Finally, Bleakley Financial Group LLC boosted its holdings in Rithm Capital by 197.1% in the first quarter. Bleakley Financial Group LLC now owns 36,428 shares of the real estate investment trust's stock worth $417,000 after purchasing an additional 24,166 shares in the last quarter. Hedge funds and other institutional investors own 44.92% of the company's stock.

Analysts Set New Price Targets

A number of analysts have weighed in on RITM shares. Royal Bank Of Canada boosted their price target on Rithm Capital from $13.00 to $14.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. Keefe, Bruyette & Woods boosted their target price on Rithm Capital from $13.50 to $14.00 and gave the stock an "outperform" rating in a report on Tuesday, July 29th. Piper Sandler raised 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 report on Monday, April 28th. Wedbush reissued an "outperform" rating and issued a $14.00 price target on shares of Rithm Capital in a research report on Wednesday, August 6th. Finally, Jones Trading upped their price objective on shares of Rithm Capital from $12.50 to $13.50 and gave the stock a "buy" rating in a report on Tuesday, July 29th. One research analyst has rated the stock with a Strong Buy rating and eight have issued a Buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Buy" and an average target price of $14.00.

Rithm Capital Stock Performance

NYSE:RITM traded up $0.3550 during trading hours on Friday, hitting $12.5550. 6,791,143 shares of the company traded hands, compared to its average volume of 5,071,700. 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 Corp. has a twelve month low of $9.13 and a twelve month high of $12.60. The firm has a 50-day moving average of $11.88 and a 200 day moving average of $11.48. The stock has a market capitalization of $6.66 billion, a price-to-earnings ratio of 9.66 and a beta of 1.25.

Rithm Capital (NYSE:RITM - Get Free Report) last announced its quarterly earnings data 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 company 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%. On average, analysts forecast that Rithm Capital Corp. will post 1.93 EPS for the current year.

Rithm Capital Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, June 30th were paid a $0.25 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $1.00 annualized dividend and a yield of 8.0%. Rithm Capital's payout ratio is currently 76.92%.

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.