Sei Investments Co. Buys 31,977 Shares of 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. lifted its position in shares of Rithm Capital Corp. (NYSE:RITM - Free Report) by 4.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 714,493 shares of the real estate investment trust's stock after purchasing an additional 31,977 shares during the quarter. Sei Investments Co. owned 0.13% of Rithm Capital worth $8,161,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Boston Partners raised its position in Rithm Capital by 4.0% in the 1st quarter. Boston Partners now owns 95,634 shares of the real estate investment trust's stock valued at $1,095,000 after buying an additional 3,685 shares during the last quarter. HighTower Advisors LLC raised its position in Rithm Capital by 5.4% in the 1st quarter. HighTower Advisors LLC now owns 170,777 shares of the real estate investment trust's stock valued at $1,955,000 after buying an additional 8,677 shares during the last quarter. AIA Group Ltd raised its position in Rithm Capital by 26.7% in the 1st quarter. AIA Group Ltd now owns 198,745 shares of the real estate investment trust's stock valued at $2,276,000 after buying an additional 41,859 shares during the last quarter. Independent Advisor Alliance raised its position in Rithm Capital by 2.0% in the 1st quarter. Independent Advisor Alliance now owns 226,495 shares of the real estate investment trust's stock valued at $2,593,000 after buying an additional 4,489 shares during the last quarter. Finally, SouthState Corp purchased a new stake in Rithm Capital in the 1st quarter valued at $25,000. 44.92% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on RITM. Wedbush reaffirmed an "outperform" rating and set a $14.00 target price on shares of Rithm Capital in a research report on Wednesday, August 6th. Jones Trading raised 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. Piper Sandler raised Rithm Capital from a "neutral" rating to an "overweight" rating and raised their target price for the company from $12.50 to $14.00 in a research report on Monday, April 28th. Keefe, Bruyette & Woods raised 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, Royal Bank Of Canada raised their target price on Rithm Capital from $13.00 to $14.00 and gave the company an "outperform" rating in a research 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 stock. According to MarketBeat, Rithm Capital presently has an average rating of "Buy" and a consensus target price of $14.00.

Rithm Capital Price Performance

NYSE RITM traded down $0.0050 during trading hours on Wednesday, hitting $12.3150. The company had a trading volume of 889,526 shares, compared to its average volume of 4,544,319. Rithm Capital Corp. has a 52 week low of $9.13 and a 52 week high of $12.59. The firm has a 50 day simple moving average of $11.82 and a 200 day simple moving average of $11.47. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.40 and a current ratio of 0.40. The firm has a market capitalization of $6.53 billion, a price-to-earnings ratio of 9.47 and a beta of 1.25.

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

Rithm Capital Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Monday, June 30th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $1.00 annualized dividend and a dividend yield of 8.1%. Rithm Capital's payout ratio is 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.