Rithm Capital Corp. $RITM Shares Acquired by Raymond James Financial Inc.

Key Points

• Raymond James Financial Inc. increased its stake in Rithm Capital Corp. by 8.9%, holding a total of 761,320 shares worth approximately $8.72 million as of the latest filing.
• Several analysts have issued positive ratings for Rithm Capital, with an average price target of $14.00 per share, indicating potential upside for investors.
• Rithm Capital has announced a quarterly dividend of $0.25 per share, which translates to an annualized dividend yield of 8.1%.

Raymond James Financial Inc. raised its stake in shares of Rithm Capital Corp. (NYSE:RITM - Free Report) by 8.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 761,320 shares of the real estate investment trust's stock after acquiring an additional 62,172 shares during the quarter. Raymond James Financial Inc. owned approximately 0.14% of Rithm Capital worth $8,717,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of RITM. Balyasny Asset Management L.P. boosted its position in Rithm Capital by 48.6% during the 4th quarter. Balyasny Asset Management L.P. now owns 6,535,525 shares of the real estate investment trust's stock valued at $70,780,000 after acquiring an additional 2,136,342 shares in the last quarter. Mackenzie Financial Corp boosted 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 purchasing an additional 2,024,090 shares in the last quarter. Nomura Holdings Inc. acquired a new stake in shares of Rithm Capital in the 4th quarter worth $13,913,000. Nuveen LLC purchased a new position in Rithm Capital in the 1st quarter worth $14,086,000. Finally, Northern Trust Corp raised its stake in 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 acquiring an additional 750,656 shares during the last quarter. Institutional investors own 44.92% of the company's stock.

Rithm Capital Price Performance

Shares of Rithm Capital stock traded up $0.21 on Thursday, hitting $12.56. The company's stock had a trading volume of 4,668,514 shares, compared to its average volume of 4,573,221. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.40 and a current ratio of 0.40. Rithm Capital Corp. has a 1 year low of $9.13 and a 1 year high of $12.61. The firm has a fifty day moving average price of $12.07 and a 200-day moving average price of $11.51. The company has a market capitalization of $6.66 billion, a price-to-earnings ratio of 9.66 and a beta of 1.30.

Rithm Capital (NYSE:RITM - Get Free Report) last announced its quarterly earnings results on Monday, July 28th. The real estate investment trust reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.03. Rithm Capital had a return on equity of 18.89% and a net margin of 16.72%.The firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.18 billion. As a group, sell-side analysts anticipate that Rithm Capital Corp. will post 1.93 earnings per share for the current fiscal year.

Rithm Capital Announces Dividend

The firm 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. This represents a $1.00 annualized dividend and a dividend yield of 8.0%. The ex-dividend date was Monday, June 30th. Rithm Capital's payout ratio is currently 76.92%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on RITM. UBS Group raised their target price on Rithm Capital from $14.00 to $16.00 and gave the stock a "buy" rating in a research note on Wednesday. Keefe, Bruyette & Woods raised their target price on 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 set a $14.00 price objective on shares of Rithm Capital in a research note on Wednesday, August 6th. Jones Trading lifted their price objective on Rithm Capital from $12.50 to $13.50 and gave the company a "buy" rating in a research note on Tuesday, July 29th. Finally, Royal Bank Of Canada lifted their price objective on Rithm Capital from $13.00 to $14.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating and eight have given a Buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target 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.