Allianz Asset Management GmbH Has $30.40 Million Stake in Rithm Capital Corp. (NYSE:RITM)

Allianz Asset Management GmbH increased its holdings in shares of Rithm Capital Corp. (NYSE:RITM - Free Report) by 13.7% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 2,654,621 shares of the real estate investment trust's stock after purchasing an additional 320,357 shares during the period. Allianz Asset Management GmbH owned approximately 0.50% of Rithm Capital worth $30,395,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in RITM. Private Advisor Group LLC raised its holdings in shares of Rithm Capital by 2.0% in the 1st quarter. Private Advisor Group LLC now owns 50,461 shares of the real estate investment trust's stock worth $578,000 after buying an additional 974 shares in the last quarter. Fourth Dimension Wealth LLC grew its position 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 worth $34,000 after acquiring an additional 1,000 shares during the last quarter. Vident Advisory LLC grew its position in Rithm Capital by 7.3% during the 4th quarter. Vident Advisory LLC now owns 15,509 shares of the real estate investment trust's stock worth $168,000 after acquiring an additional 1,051 shares during the last quarter. Sowell Financial Services LLC grew its position in Rithm Capital by 3.2% during the 1st quarter. Sowell Financial Services LLC now owns 35,680 shares of the real estate investment trust's stock worth $409,000 after acquiring an additional 1,108 shares during the last quarter. Finally, Quadrant Capital Group LLC grew its position in Rithm Capital by 35.2% during the 4th quarter. Quadrant Capital Group LLC now owns 4,655 shares of the real estate investment trust's stock worth $50,000 after acquiring an additional 1,211 shares during the last quarter. Institutional investors and hedge funds own 44.92% of the company's stock.

Rithm Capital Trading Down 0.2%

Shares of NYSE:RITM traded down $0.03 during midday trading on Thursday, hitting $12.23. The company had a trading volume of 3,570,300 shares, compared to its average volume of 4,162,185. Rithm Capital Corp. has a 12 month low of $9.13 and a 12 month high of $12.31. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 1.68. The stock has a market cap of $6.48 billion, a price-to-earnings ratio of 10.19 and a beta of 1.25. The firm has a fifty day simple moving average of $11.47 and a 200 day simple moving average of $11.33.

Rithm Capital (NYSE:RITM - Get Free Report) last posted its quarterly earnings results on Friday, April 25th. The real estate investment trust reported $0.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.45 by $0.07. The business had revenue of $28.89 million for the quarter, compared to analyst estimates 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 company earned $0.48 EPS. On average, analysts predict that Rithm Capital Corp. will post 1.93 EPS for the current year.

Rithm Capital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders 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 yield of 8.18%. Rithm Capital's dividend payout ratio is presently 83.33%.

Wall Street Analysts Forecast Growth

RITM has been the topic of a number of research analyst reports. Royal Bank Of Canada restated an "outperform" rating and set a $13.00 price target on shares of Rithm Capital in a research report on Tuesday, May 20th. UBS Group restated a "buy" rating and set a $14.00 price target (up from $13.00) on shares of Rithm Capital in a research report on Tuesday, July 15th. Wedbush reiterated an "outperform" rating and issued a $14.00 price objective on shares of Rithm Capital in a research report on Monday, May 19th. BTIG Research reiterated a "buy" rating and issued a $16.00 price objective on shares of Rithm Capital in a research report on Friday, April 25th. Finally, Piper Sandler upgraded Rithm Capital from a "neutral" rating to an "overweight" rating and increased their price objective for the company from $12.50 to $14.00 in a research report on Monday, April 28th. Eight analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $13.69.

About Rithm Capital

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.