Rithm Capital Corp. (NYSE:RITM) Shares Acquired by Edgestream Partners L.P.

Edgestream Partners L.P. grew its stake in Rithm Capital Corp. (NYSE:RITM - Free Report) by 341.5% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 688,882 shares of the real estate investment trust's stock after purchasing an additional 532,866 shares during the period. Edgestream Partners L.P. owned approximately 0.13% of Rithm Capital worth $7,888,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its holdings in Rithm Capital by 0.4% during 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 purchasing an additional 184,802 shares during the period. Geode Capital Management LLC lifted its position in Rithm Capital by 0.9% during 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 position in shares of Rithm Capital in the 4th quarter valued at about $76,082,000. Balyasny Asset Management L.P. lifted 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 valued at $70,780,000 after buying an additional 2,136,342 shares during the period. Finally, Wellington Management Group LLP raised its holdings in Rithm Capital by 0.9% in 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 purchasing an additional 32,544 shares during the period. 44.92% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $13.00 price target on shares of Rithm Capital in a report on Tuesday, May 20th. Piper Sandler raised Rithm Capital from a "neutral" rating to an "overweight" rating and lifted their target price for the company from $12.50 to $14.00 in a research report on Monday, April 28th. Jones Trading reiterated a "buy" rating and issued a $12.50 price objective on shares of Rithm Capital in a research note on Tuesday, April 29th. UBS Group reiterated a "buy" rating and issued a $14.00 price objective (up previously from $13.00) on shares of Rithm Capital in a research note on Tuesday. Finally, Wedbush reiterated an "outperform" rating and issued a $14.00 price objective on shares of Rithm Capital in a research note on Monday, May 19th. Eight equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $13.69.

Rithm Capital Stock Down 0.4%

RITM stock traded down $0.05 during trading on Tuesday, hitting $11.69. 1,134,060 shares of the company's stock were exchanged, compared to its average volume of 4,156,047. The business has a 50-day moving average price of $11.37 and a two-hundred day moving average price of $11.28. The stock has a market capitalization of $6.19 billion, a price-to-earnings ratio of 9.74 and a beta of 1.25. 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.

Rithm Capital (NYSE:RITM - Get Free Report) last issued its quarterly earnings data on Friday, April 25th. The real estate investment trust reported $0.52 earnings per share for the quarter, beating analysts' consensus estimates of $0.45 by $0.07. Rithm Capital had a return on equity of 18.38% and a net margin of 15.06%. The company had revenue of $28.89 million during the quarter, compared to analysts' expectations of $1.27 billion. During the same quarter in the previous year, the business earned $0.48 earnings per share. As a group, equities research analysts expect 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. Stockholders of record on Monday, June 30th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.56%. The ex-dividend date of this dividend is Monday, June 30th. Rithm Capital's payout ratio is currently 83.33%.

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.