Range Financial Group LLC Buys Shares of 83,286 Rithm Capital Corp. $RITM

Key Points

• Range Financial Group LLC has acquired a new position in Rithm Capital Corp, purchasing 83,286 shares valued at approximately $940,000.
• Rithm Capital's quarterly earnings surpassed expectations, reporting $0.54 EPS compared to analysts' consensus of $0.51, with revenue reaching $1.22 billion.
• The company declared a quarterly dividend of $0.25 per share, representing an annual yield of 8.1% and a dividend payout ratio of 76.92%.

Range Financial Group LLC acquired a new stake in Rithm Capital Corp. (NYSE:RITM - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 83,286 shares of the real estate investment trust's stock, valued at approximately $940,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RITM. Ameriprise Financial Inc. boosted its position in Rithm Capital by 7.6% in the 4th quarter. Ameriprise Financial Inc. now owns 803,233 shares of the real estate investment trust's stock valued at $8,702,000 after buying an additional 56,992 shares during the last quarter. Focus Partners Wealth lifted its position in shares of Rithm Capital by 25.3% during the fourth quarter. Focus Partners Wealth now owns 13,957 shares of the real estate investment trust's stock worth $151,000 after purchasing an additional 2,817 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of Rithm Capital by 6.2% during the fourth quarter. Janus Henderson Group PLC now owns 224,927 shares of the real estate investment trust's stock worth $2,435,000 after purchasing an additional 13,200 shares during the last quarter. Royal Bank of Canada lifted its position in shares of Rithm Capital by 4.9% during the fourth quarter. Royal Bank of Canada now owns 1,689,711 shares of the real estate investment trust's stock worth $18,301,000 after purchasing an additional 78,787 shares during the last quarter. Finally, Tidal Investments LLC lifted its position in shares of Rithm Capital by 6.9% during the fourth quarter. Tidal Investments LLC now owns 19,959 shares of the real estate investment trust's stock worth $216,000 after purchasing an additional 1,282 shares during the last quarter. 44.92% of the stock is owned by hedge funds and other institutional investors.

Rithm Capital Price Performance

Rithm Capital stock traded down $0.18 during mid-day trading on Friday, hitting $12.11. The company's stock had a trading volume of 9,328,730 shares, compared to its average volume of 5,309,136. 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 stock has a market capitalization of $6.42 billion, a P/E ratio of 9.32 and a beta of 1.30. Rithm Capital Corp. has a twelve month low of $9.13 and a twelve month high of $12.74. The stock's fifty day moving average price is $12.26 and its two-hundred day moving average price is $11.55.

Rithm Capital (NYSE:RITM - Get Free Report) last posted its quarterly earnings data on Monday, July 28th. The real estate investment trust reported $0.54 EPS for the quarter, topping 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 firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.18 billion. Research analysts forecast that Rithm Capital Corp. will post 1.93 earnings per share for the current year.

Rithm Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Wednesday, October 1st will be paid a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $1.00 dividend on an annualized basis and a yield of 8.3%. Rithm Capital's dividend payout ratio (DPR) is currently 76.92%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on RITM shares. Wedbush reaffirmed an "outperform" rating and set a $14.00 price target on shares of Rithm Capital in a research report on Wednesday, August 6th. Keefe, Bruyette & Woods increased their price target on shares of Rithm Capital from $13.50 to $14.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 29th. Royal Bank Of Canada increased their price target on shares of Rithm Capital from $13.00 to $14.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. BTIG Research reaffirmed a "buy" rating and set a $16.00 price target on shares of Rithm Capital in a research report on Wednesday. Finally, Jones Trading increased their price target on shares of Rithm Capital from $12.50 to $13.50 and gave the stock a "buy" rating in a research report on Tuesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and a consensus target price of $14.25.

Rithm Capital 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.