Rithm Capital Corp. (NYSE:RITM) Shares Purchased by Bleakley Financial Group LLC

Bleakley Financial Group LLC lifted its holdings in shares of Rithm Capital Corp. (NYSE:RITM - Free Report) by 197.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 36,428 shares of the real estate investment trust's stock after purchasing an additional 24,166 shares during the quarter. Bleakley Financial Group LLC's holdings in Rithm Capital were worth $417,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of RITM. Fourth Dimension Wealth LLC boosted its holdings in Rithm Capital by 50.0% during the 1st quarter. Fourth Dimension Wealth LLC now owns 3,000 shares of the real estate investment trust's stock valued at $34,000 after acquiring an additional 1,000 shares during the period. Quarry LP boosted its holdings in Rithm Capital by 47.5% during the 4th quarter. Quarry LP now owns 4,118 shares of the real estate investment trust's stock valued at $45,000 after acquiring an additional 1,327 shares during the period. Quadrant Capital Group LLC boosted its stake in shares of Rithm Capital by 35.2% in the 4th quarter. Quadrant Capital Group LLC now owns 4,655 shares of the real estate investment trust's stock valued at $50,000 after buying an additional 1,211 shares during the period. Quent Capital LLC grew its position in shares of Rithm Capital by 58.6% during the first quarter. Quent Capital LLC now owns 5,465 shares of the real estate investment trust's stock worth $63,000 after buying an additional 2,019 shares in the last quarter. Finally, CWM LLC increased its stake in shares of Rithm Capital by 25.5% during the first quarter. CWM LLC now owns 6,046 shares of the real estate investment trust's stock worth $69,000 after buying an additional 1,228 shares during the period. 44.92% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have recently weighed in on RITM. UBS Group reissued a "buy" rating and set a $14.00 target price (up previously from $13.00) on shares of Rithm Capital in a research report on Tuesday. Jones Trading reissued a "buy" rating and set a $12.50 target price on shares of Rithm Capital in a research report on Tuesday, April 29th. Piper Sandler raised Rithm Capital from a "neutral" rating to an "overweight" rating and raised 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 set a $14.00 target price on shares of Rithm Capital in a research report on Monday, May 19th. Finally, BTIG Research reissued a "buy" rating and set a $16.00 target price on shares of Rithm Capital in a research report on Friday, April 25th. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Rithm Capital has an average rating of "Buy" and a consensus target price of $13.69.

Rithm Capital Price Performance

RITM traded up $0.03 during trading on Friday, reaching $11.94. 4,654,352 shares of the stock were exchanged, compared to its average volume of 4,199,807. The business's 50 day moving average price is $11.43 and its two-hundred day moving average price is $11.30. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.35 and a quick ratio of 0.35. The company has a market capitalization of $6.33 billion, a price-to-earnings ratio of 9.95 and a beta of 1.25. Rithm Capital Corp. has a 1 year low of $9.13 and a 1 year high of $12.20.

Rithm Capital (NYSE:RITM - Get Free Report) last released its quarterly earnings results on Friday, April 25th. The real estate investment trust reported $0.52 earnings per share for the quarter, topping analysts' consensus estimates of $0.45 by $0.07. Rithm Capital had a return on equity of 18.38% and a net margin of 15.06%. The company had revenue of $28.89 million during the quarter, compared to analysts' expectations of $1.27 billion. During the same period in the previous year, the firm posted $0.48 earnings per share. As a group, equities research analysts anticipate that Rithm Capital Corp. will post 1.93 earnings per share for the current year.

Rithm Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be paid a $0.25 dividend. The ex-dividend date is Monday, June 30th. This represents a $1.00 annualized dividend and a yield of 8.38%. Rithm Capital's payout ratio is currently 83.33%.

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.