PharVision Advisers LLC Purchases 33,795 Shares of Rithm Capital Corp. $RITM

Key Points

• PharVision Advisers LLC increased its stake in Rithm Capital Corp. by 288.6%, now holding 45,505 shares valued at $521,000, marking it as their 13th largest investment.
• Rithm Capital recently reported earnings of $0.54 per share, exceeding expectations and highlighting a net margin of 16.72% and revenue of $1.22 billion for the quarter.
• The company declared a quarterly dividend of $0.25 per share, translating to a 7.9% dividend yield based on an annualized payout of $1.00.

PharVision Advisers LLC lifted its holdings in Rithm Capital Corp. (NYSE:RITM - Free Report) by 288.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,505 shares of the real estate investment trust's stock after buying an additional 33,795 shares during the quarter. Rithm Capital makes up about 0.7% of PharVision Advisers LLC's holdings, making the stock its 13th biggest holding. PharVision Advisers LLC's holdings in Rithm Capital were worth $521,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Wellington Management Group LLP grew its position 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 worth $56,194,000 after buying an additional 1,307,276 shares during the period. Northern Trust Corp grew its position in shares of Rithm Capital by 29.6% in the 4th quarter. Northern Trust Corp now owns 3,284,237 shares of the real estate investment trust's stock worth $35,568,000 after buying an additional 750,656 shares during the period. Mackenzie Financial Corp grew its position 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 worth $31,206,000 after buying an additional 2,024,090 shares during the period. Allianz Asset Management GmbH boosted its stake in Rithm Capital by 13.7% in the 1st quarter. Allianz Asset Management GmbH now owns 2,654,621 shares of the real estate investment trust's stock worth $30,395,000 after purchasing an additional 320,357 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Rithm Capital by 1.2% in the 1st quarter. Bank of New York Mellon Corp now owns 1,940,292 shares of the real estate investment trust's stock worth $22,216,000 after purchasing an additional 23,839 shares in the last quarter. 44.92% of the stock is owned by hedge funds and other institutional investors.

Rithm Capital Stock Performance

RITM traded up $0.09 during midday trading on Thursday, hitting $12.59. 1,467,702 shares of the company traded hands, compared to its average volume of 4,558,450. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 1.63. The firm has a market capitalization of $6.67 billion, a PE ratio of 9.68 and a beta of 1.30. The company's 50-day moving average is $12.17 and its 200 day moving average is $11.53. Rithm Capital Corp. has a 52 week low of $9.13 and a 52 week high of $12.74.

Rithm Capital (NYSE:RITM - Get Free Report) last posted its earnings results on Monday, July 28th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, June 30th were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 7.9%. Rithm Capital's dividend payout ratio (DPR) is presently 76.92%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. UBS Group upped their price target on shares of Rithm Capital from $14.00 to $16.00 and gave the stock a "buy" rating in a research note on Wednesday, September 3rd. Keefe, Bruyette & Woods upped their price target on shares of Rithm Capital from $13.50 to $14.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 29th. Wedbush reiterated an "outperform" rating and issued a $14.00 price target on shares of Rithm Capital in a research note on Wednesday, August 6th. Royal Bank Of Canada upped their price target on shares of Rithm Capital from $13.00 to $14.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. Finally, Jones Trading upped their price target on shares of Rithm Capital from $12.50 to $13.50 and gave the stock a "buy" rating in a research note on Tuesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating and eight have issued a Buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Buy" and a consensus target price of $14.25.

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.