Rithm Capital Corp. (NYSE:RITM) Shares Acquired by Y Intercept Hong Kong Ltd

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

Other large investors have also made changes to their positions in the company. Fourth Dimension Wealth LLC boosted its stake in Rithm Capital by 50.0% in the 1st 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 during the last quarter. Quarry LP boosted its stake in Rithm Capital by 47.5% in the 4th quarter. Quarry LP now owns 4,118 shares of the real estate investment trust's stock worth $45,000 after buying an additional 1,327 shares during the last quarter. Quadrant Capital Group LLC boosted its stake in 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 worth $50,000 after buying an additional 1,211 shares during the last quarter. Quent Capital LLC boosted its stake in Rithm Capital by 58.6% in the 1st 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 during the last quarter. Finally, CWM LLC boosted its stake in Rithm Capital by 25.5% in the 1st 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 last quarter. Institutional investors and hedge funds own 44.92% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. Piper Sandler raised Rithm Capital from a "neutral" rating to an "overweight" rating and raised their price target for the stock from $12.50 to $14.00 in a research note on Monday, April 28th. BTIG Research reissued a "buy" rating and issued a $16.00 price target on shares of Rithm Capital in a research note on Friday, April 25th. Jones Trading reissued a "buy" rating and issued a $12.50 price target on shares of Rithm Capital in a research note on Tuesday, April 29th. Wedbush reaffirmed an "outperform" rating and issued a $14.00 price objective on shares of Rithm Capital in a research note on Monday, May 19th. Finally, UBS Group reaffirmed a "buy" rating and issued a $14.00 price objective (up from $13.00) on shares of Rithm Capital in a research note on Tuesday, July 15th. Eight analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of "Buy" and an average price target of $13.69.

Rithm Capital Stock Performance

NYSE RITM opened at $12.19 on Friday. The firm has a market capitalization of $6.46 billion, a P/E ratio of 10.15 and a beta of 1.25. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.35 and a quick ratio of 0.35. Rithm Capital Corp. has a 1-year low of $9.13 and a 1-year high of $12.31. The business's 50-day simple moving average is $11.49 and its 200-day simple moving average is $11.34.

Rithm Capital (NYSE:RITM - Get Free Report) last announced its earnings results on Friday, April 25th. The real estate investment trust reported $0.52 EPS for the quarter, beating the consensus estimate of $0.45 by $0.07. The business had revenue of $28.89 million for the quarter, compared to the consensus estimate of $1.27 billion. Rithm Capital had a return on equity of 18.38% and a net margin of 15.06%. During the same period last year, the business posted $0.48 EPS. Equities analysts predict that Rithm Capital Corp. will post 1.93 EPS for the current year.

Rithm Capital Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $1.00 annualized dividend and a dividend yield of 8.21%. 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.

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