Y Intercept Hong Kong Ltd Boosts Holdings in Rithm Capital Corp. (NYSE:RITM)

Key Points

• Y Intercept Hong Kong Ltd increased its stake in Rithm Capital Corp. by 41.5% during the first quarter, acquiring 21,910 additional shares, bringing its total holdings to 74,765 shares valued at $856,000.
• Several institutional investors have also boosted their stakes in Rithm Capital, with notable increases of up to 58.6% by Quent Capital LLC in the same timeframe.
• Analysts are optimistic about Rithm Capital, with multiple price target increases, including Piper Sandler raising its target from $12.50 to $14.00 and maintaining an overall buy rating.

Y Intercept Hong Kong Ltd increased its stake in shares of Rithm Capital Corp. (NYSE:RITM - Free Report) by 41.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 74,765 shares of the real estate investment trust's stock after purchasing an additional 21,910 shares during the quarter. Y Intercept Hong Kong Ltd's holdings in Rithm Capital were worth $856,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of RITM. Vanguard Group Inc. grew its holdings in shares of Rithm Capital by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 49,008,422 shares of the real estate investment trust's stock worth $530,761,000 after acquiring an additional 184,802 shares during the period. Geode Capital Management LLC grew its holdings in shares of Rithm Capital by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 8,494,199 shares of the real estate investment trust's stock worth $92,021,000 after acquiring an additional 79,142 shares during the period. Norges Bank acquired a new stake in shares of Rithm Capital in the 4th quarter worth approximately $76,082,000. Balyasny Asset Management L.P. grew its holdings in shares of Rithm Capital by 48.6% in 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 acquiring an additional 2,136,342 shares during the period. Finally, Wellington Management Group LLP raised its stake in shares of Rithm Capital by 0.9% during the 4th quarter. Wellington Management Group LLP now owns 3,600,461 shares of the real estate investment trust's stock worth $38,993,000 after buying an additional 32,544 shares during the last quarter. Institutional investors and hedge funds own 44.92% of the company's stock.

Rithm Capital Price Performance

RITM stock traded up $0.06 during trading on Tuesday, hitting $12.29. The stock had a trading volume of 925,136 shares, compared to its average volume of 4,454,942. The company's 50 day moving average price is $11.50 and its two-hundred day moving average price is $11.36. Rithm Capital Corp. has a 1-year low of $9.13 and a 1-year high of $12.59. The stock has a market cap of $6.51 billion, a price-to-earnings ratio of 10.24 and a beta of 1.25. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.35 and a current ratio of 0.35.

Rithm Capital (NYSE:RITM - Get Free Report) last announced its 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 net margin of 15.06% and a return on equity of 18.38%. The firm had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.18 billion. On average, sell-side analysts forecast that Rithm Capital Corp. will post 1.93 EPS for the current fiscal year.

Rithm Capital Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 8.14%. The ex-dividend date of this dividend is Monday, June 30th. Rithm Capital's dividend payout ratio (DPR) is 83.33%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the company. Piper Sandler raised Rithm Capital from a "neutral" rating to an "overweight" rating and lifted their price target for the stock from $12.50 to $14.00 in a research note on Monday, April 28th. Wedbush reaffirmed an "outperform" rating and set a $14.00 price target on shares of Rithm Capital in a research note on Monday, May 19th. Royal Bank Of Canada reaffirmed an "outperform" rating and set a $13.00 price target on shares of Rithm Capital in a research note on Tuesday, May 20th. Jones Trading lifted their price target on Rithm Capital from $12.50 to $13.50 and gave the stock a "buy" rating in a research note on Tuesday. Finally, Keefe, Bruyette & Woods lifted their price target on Rithm Capital from $13.50 to $14.00 and gave the stock an "outperform" rating in a research note on Tuesday. Eight equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Rithm Capital presently has a consensus rating of "Buy" and a consensus price target of $13.88.

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.