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

Edgestream Partners L.P. raised its position in shares of Rithm Capital Corp. (NYSE:RITM - Free Report) by 341.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 688,882 shares of the real estate investment trust's stock after acquiring 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.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its position in Rithm Capital by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 49,008,422 shares of the real estate investment trust's stock valued at $530,761,000 after acquiring an additional 184,802 shares during the period. Geode Capital Management LLC boosted its position in shares of Rithm Capital by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 8,494,199 shares of the real estate investment trust's stock worth $92,021,000 after buying an additional 79,142 shares during the period. Norges Bank purchased a new stake in shares of Rithm Capital in the fourth quarter worth about $76,082,000. Balyasny Asset Management L.P. boosted its position in shares of Rithm Capital by 48.6% in the fourth 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 buying an additional 2,136,342 shares during the period. Finally, Wellington Management Group LLP boosted its position in shares of Rithm Capital by 0.9% in the fourth 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 period. Hedge funds and other institutional investors own 44.92% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Jones Trading reaffirmed a "buy" rating and issued a $12.50 target price on shares of Rithm Capital in a research report on Tuesday, April 29th. Piper Sandler raised Rithm Capital from a "neutral" rating to an "overweight" rating and upped their target price for the stock from $12.50 to $14.00 in a research report on Monday, April 28th. BTIG Research reissued a "buy" rating and issued a $16.00 price target on shares of Rithm Capital in a report on Friday, April 25th. Wedbush reissued an "outperform" rating and issued a $14.00 price target on shares of Rithm Capital in a report on Monday, May 19th. Finally, UBS Group reissued a "buy" rating and issued a $14.00 price target (up previously from $13.00) on shares of Rithm Capital in a report on Tuesday. Eight investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Buy" and a consensus price target of $13.69.

Rithm Capital Stock Up 0.1%

RITM traded up $0.02 on Thursday, reaching $11.92. The company's stock had a trading volume of 6,041,445 shares, compared to its average volume of 4,193,829. The business's 50 day moving average is $11.42 and its 200 day moving average is $11.30. Rithm Capital Corp. has a 1 year low of $9.13 and a 1 year high of $12.20. The stock has a market cap of $6.32 billion, a price-to-earnings ratio of 9.93 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 (NYSE:RITM - Get Free Report) last announced its quarterly earnings data on Friday, April 25th. The real estate investment trust reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.07. Rithm Capital had a return on equity of 18.38% and a net margin of 15.06%. The firm had revenue of $28.89 million for the quarter, compared to analysts' expectations of $1.27 billion. During the same quarter in the prior year, the firm posted $0.48 earnings per share. As a group, research analysts forecast that Rithm Capital Corp. will post 1.93 EPS for the current fiscal year.

Rithm Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 8.39%. The ex-dividend date of this dividend is Monday, June 30th. Rithm Capital's payout ratio is currently 83.33%.

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.