Rithm Capital Corp. $RITM Shares Purchased 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. grew its stake in Rithm Capital Corp. (NYSE:RITM - Free Report) by 8.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund 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 about 0.14% of Rithm Capital worth $8,717,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Balyasny Asset Management L.P. increased its position in shares of 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 worth $70,780,000 after purchasing an additional 2,136,342 shares during the last quarter. Mackenzie Financial Corp increased its position in shares of Rithm Capital by 288.6% during 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 during the last quarter. Nomura Holdings Inc. acquired a new stake in shares of Rithm Capital during the 4th quarter worth about $13,913,000. Nuveen LLC acquired a new stake in shares of Rithm Capital during the 1st quarter worth about $14,086,000. Finally, Northern Trust Corp increased its position in shares of Rithm Capital by 29.6% during 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 purchasing an additional 750,656 shares during the last quarter. 44.92% of the stock is owned by institutional investors and hedge funds.

Rithm Capital Stock Up 0.4%

Shares of Rithm Capital stock traded up $0.05 on Friday, reaching $12.61. 4,949,686 shares of the company were exchanged, compared to its average volume of 4,939,353. Rithm Capital Corp. has a 1-year low of $9.13 and a 1-year high of $12.74. The company has a market cap of $6.68 billion, a P/E ratio of 9.70 and a beta of 1.30. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.40 and a quick ratio of 0.40. The stock's 50 day moving average price is $12.11 and its 200-day moving average price is $11.52.

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 EPS for the quarter, topping analysts' consensus estimates of $0.51 by $0.03. Rithm Capital had a return on equity of 18.89% and a net margin of 16.72%.The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.18 billion. As a group, equities analysts forecast that Rithm Capital Corp. will post 1.93 EPS for the current year.

Rithm Capital Dividend Announcement

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

Analysts Set New Price Targets

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