Rithm Capital Corp. $RITM Position Raised by AlphaQuest LLC

Key Points

• AlphaQuest LLC significantly increased its position in Rithm Capital Corp. by 24,045.7% in Q1, owning 192,683 shares worth $2.206 million at the end of the quarter.
• Rithm Capital's quarterly earnings report showed an EPS of $0.54, surpassing analysts' expectations of $0.51, with revenues of $1.22 billion.
• The company announced a quarterly dividend of $0.25 per share, yielding 8.2% annually, with a payout ratio of 76.92%.

AlphaQuest LLC increased its position in shares of Rithm Capital Corp. (NYSE:RITM - Free Report) by 24,045.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 192,683 shares of the real estate investment trust's stock after purchasing an additional 191,885 shares during the period. AlphaQuest LLC's holdings in Rithm Capital were worth $2,206,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Compound Planning Inc. raised its holdings in Rithm Capital by 11.0% during the first quarter. Compound Planning Inc. now owns 19,871 shares of the real estate investment trust's stock worth $228,000 after purchasing an additional 1,965 shares in the last quarter. Capital Fund Management S.A. bought a new stake in Rithm Capital during the first quarter worth approximately $1,268,000. Credit Agricole S A raised its holdings in Rithm Capital by 341.6% during the first quarter. Credit Agricole S A now owns 137,064 shares of the real estate investment trust's stock worth $1,569,000 after purchasing an additional 106,029 shares in the last quarter. Hsbc Holdings PLC bought a new stake in Rithm Capital during the first quarter worth approximately $719,000. Finally, Quantbot Technologies LP bought a new stake in Rithm Capital during the first quarter worth approximately $443,000. Institutional investors own 44.92% of the company's stock.

Rithm Capital Stock Performance

Shares of RITM opened at $12.2050 on Friday. The company's 50 day moving average price is $11.86 and its 200 day moving average price is $11.48. Rithm Capital Corp. has a 52 week low of $9.13 and a 52 week high of $12.59. The company has a market capitalization of $6.47 billion, a PE ratio of 9.39 and a beta of 1.25. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.40 and a current ratio of 0.40.

Rithm Capital (NYSE:RITM - Get Free Report) last announced its quarterly earnings data on Monday, July 28th. The real estate investment trust reported $0.54 EPS for the quarter, beating analysts' consensus estimates of $0.51 by $0.03. Rithm Capital had a net margin of 16.72% and a return on equity of 18.89%. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.18 billion. Research analysts expect that Rithm Capital Corp. will post 1.93 EPS for the current fiscal year.

Rithm Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, June 30th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $1.00 dividend on an annualized basis and a yield of 8.2%. Rithm Capital's payout ratio is presently 76.92%.

Analysts Set New Price Targets

Several research analysts have issued reports on the company. Keefe, Bruyette & Woods upped their price target on Rithm Capital from $13.50 to $14.00 and gave the company an "outperform" rating in a report on Tuesday, July 29th. Royal Bank Of Canada upped their price target on Rithm Capital from $13.00 to $14.00 and gave the company an "outperform" rating in a report on Friday, August 1st. Jones Trading upped their price target on Rithm Capital from $12.50 to $13.50 and gave the company a "buy" rating in a report on Tuesday, July 29th. Piper Sandler raised Rithm Capital from a "neutral" rating to an "overweight" rating and upped their price target for the company from $12.50 to $14.00 in a report on Monday, April 28th. Finally, UBS Group reaffirmed a "buy" rating and set a $14.00 price objective (up from $13.00) on shares of Rithm Capital in a research note on Tuesday, July 15th. One investment analyst has rated the stock with a Strong Buy rating and eight have issued a Buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Buy" and an average price target of $14.00.

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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