Handelsbanken Fonder AB Purchases 39,100 Shares of Rithm Capital Corp. (NYSE:RITM)

Handelsbanken Fonder AB grew its stake in Rithm Capital Corp. (NYSE:RITM - Free Report) by 27.2% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 183,094 shares of the real estate investment trust's stock after buying an additional 39,100 shares during the period. Handelsbanken Fonder AB's holdings in Rithm Capital were worth $2,096,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Meridian Financial Partners LLC lifted its holdings in Rithm Capital by 3.7% in the 1st quarter. Meridian Financial Partners LLC now owns 86,059 shares of the real estate investment trust's stock worth $985,000 after purchasing an additional 3,098 shares during the last quarter. Wedmont Private Capital grew its stake in Rithm Capital by 11.2% in the 1st quarter. Wedmont Private Capital now owns 22,473 shares of the real estate investment trust's stock valued at $257,000 after buying an additional 2,272 shares during the last quarter. SeaCrest Wealth Management LLC raised its holdings in Rithm Capital by 1.7% in the 1st quarter. SeaCrest Wealth Management LLC now owns 96,176 shares of the real estate investment trust's stock worth $1,101,000 after acquiring an additional 1,610 shares during the period. Gilman Hill Asset Management LLC acquired a new position in Rithm Capital during the 1st quarter worth $126,000. Finally, Bank & Trust Co boosted its holdings in Rithm Capital by 1,678.6% during the first quarter. Bank & Trust Co now owns 11,739 shares of the real estate investment trust's stock valued at $134,000 after acquiring an additional 11,079 shares during the period. Institutional investors and hedge funds own 44.92% of the company's stock.

Rithm Capital Stock Performance

RITM stock traded up $0.13 during midday trading on Wednesday, hitting $11.24. The stock had a trading volume of 2,382,205 shares, compared to its average volume of 4,077,920. Rithm Capital Corp. has a 52 week low of $9.13 and a 52 week high of $12.20. 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 50-day simple moving average of $10.99 and a 200 day simple moving average of $11.22. The firm has a market capitalization of $5.96 billion, a price-to-earnings ratio of 9.36 and a beta of 1.26.

Rithm Capital (NYSE:RITM - Get Free Report) last released its quarterly earnings data on Friday, April 25th. The real estate investment trust reported $0.52 EPS for the quarter, topping analysts' consensus estimates of $0.45 by $0.07. The company had revenue of $28.89 million during the quarter, compared to the consensus estimate of $1.27 billion. Rithm Capital had a net margin of 15.06% and a return on equity of 18.38%. During the same period last year, the firm earned $0.48 EPS. As a group, equities research analysts anticipate that Rithm Capital Corp. will post 1.93 earnings per share for the current year.

Rithm Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 8.90%. The ex-dividend date of this dividend was Monday, March 31st. Rithm Capital's payout ratio is 83.33%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on RITM. Piper Sandler raised Rithm Capital from a "neutral" rating to an "overweight" rating and boosted their price objective for the stock from $12.50 to $14.00 in a research report on Monday, April 28th. Royal Bank Of Canada reissued an "outperform" rating and issued a $13.00 price objective on shares of Rithm Capital in a research report on Tuesday, May 20th. BTIG Research restated a "buy" rating and issued a $16.00 price objective on shares of Rithm Capital in a research note on Friday, April 25th. Wedbush reiterated an "outperform" rating and set a $14.00 target price on shares of Rithm Capital in a research note on Monday, May 19th. Finally, Jones Trading restated a "buy" rating and issued a $12.50 price target on shares of Rithm Capital in a research report on Tuesday, April 29th. Eight analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and a consensus price target of $13.56.

Rithm Capital 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.