Sei Investments Co. Grows Position in Rithm Capital Corp. $RITM

Key Points

• Sei Investments Co. increased its stake in Rithm Capital Corp. by 4.7%, acquiring a total of 714,493 shares, valued at approximately $8.16 million.
• Several institutional investors, including Balyasny Asset Management and Mackenzie Financial Corp., significantly boosted their holdings in Rithm Capital in recent quarters, indicating growing interest in the company.
• Rithm Capital reported a quarterly earnings per share of $0.54, surpassing analysts' expectations, and declared a quarterly dividend of $0.25 per share, presenting an annual yield of 8.1%.

Sei Investments Co. raised its stake in Rithm Capital Corp. (NYSE:RITM - Free Report) by 4.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 714,493 shares of the real estate investment trust's stock after acquiring an additional 31,977 shares during the period. Sei Investments Co. owned approximately 0.13% of Rithm Capital worth $8,161,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. SouthState Corp purchased a new stake in Rithm Capital during the 1st quarter valued at about $25,000. Fourth Dimension Wealth LLC lifted its stake in shares of Rithm Capital by 50.0% in the first quarter. Fourth Dimension Wealth LLC now owns 3,000 shares of the real estate investment trust's stock worth $34,000 after buying an additional 1,000 shares in the last quarter. Quarry LP grew its holdings in shares of Rithm Capital by 47.5% during the fourth quarter. Quarry LP now owns 4,118 shares of the real estate investment trust's stock valued at $45,000 after buying an additional 1,327 shares during the last quarter. Quent Capital LLC grew its holdings 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 valued at $63,000 after buying an additional 2,019 shares during the last quarter. Finally, CWM LLC increased its position 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 valued at $69,000 after acquiring an additional 1,228 shares in the last quarter. Hedge funds and other institutional investors own 44.92% of the company's stock.

Wall Street Analyst Weigh In

RITM has been the topic of several analyst reports. Keefe, Bruyette & Woods upped their price objective on Rithm Capital from $13.50 to $14.00 and gave the company an "outperform" rating in a research report on Tuesday, July 29th. UBS Group restated a "buy" rating and issued a $14.00 price target (up previously from $13.00) on shares of Rithm Capital in a research note on Tuesday, July 15th. Piper Sandler raised Rithm Capital from a "neutral" rating to an "overweight" rating and upped their price target for the company from $12.50 to $14.00 in a report on Monday, April 28th. BTIG Research reaffirmed a "buy" rating and set a $16.00 price objective on shares of Rithm Capital in a research report on Friday, April 25th. Finally, Royal Bank Of Canada lifted their price objective on Rithm Capital from $13.00 to $14.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. One investment 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, Rithm Capital currently has a consensus rating of "Buy" and a consensus target price of $14.00.

Rithm Capital Stock Performance

RITM stock traded up $0.0150 during trading on Wednesday, reaching $12.3350. The stock had a trading volume of 3,180,125 shares, compared to its average volume of 5,117,814. The firm has a market cap of $6.54 billion, a PE ratio of 9.49 and a beta of 1.25. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 1.63. The stock's 50 day moving average is $11.84 and its two-hundred day moving average is $11.47. Rithm Capital Corp. has a 52 week low of $9.13 and a 52 week high of $12.59.

Rithm Capital (NYSE:RITM - Get Free Report) last released its quarterly earnings results on Monday, July 28th. The real estate investment trust reported $0.54 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 firm had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.18 billion. As a group, equities 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 declared a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, June 30th were given a $0.25 dividend. The ex-dividend date was Monday, June 30th. This represents a $1.00 annualized dividend and a yield of 8.1%. Rithm Capital's dividend payout ratio (DPR) is presently 76.92%.

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.