Rithm Capital Corp. $RITM Shares Acquired by QRG Capital Management Inc.

Key Points

• QRG Capital Management increased its stake in Rithm Capital Corp. by 11.4%, owning 237,221 shares valued at approximately $2.68 million as of its latest SEC filing.
• Rithm Capital recently reported an EPS of $0.54 for the last quarter, exceeding analysts' expectations of $0.51, with a revenue of $1.22 billion.
• The company announced a quarterly dividend of $0.25, translating to an annual yield of 9.2%, with a payout ratio of 76.92%.

QRG Capital Management Inc. increased its holdings in shares of Rithm Capital Corp. (NYSE:RITM - Free Report) by 11.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 237,221 shares of the real estate investment trust's stock after buying an additional 24,251 shares during the period. QRG Capital Management Inc.'s holdings in Rithm Capital were worth $2,678,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors also recently added to or reduced their stakes in RITM. Kingstone Capital Partners Texas LLC acquired a new stake in shares of Rithm Capital in the second quarter valued at about $96,027,000. Mackenzie Financial Corp boosted its holdings in Rithm Capital by 288.6% in the 1st quarter. Mackenzie Financial Corp now owns 2,725,392 shares of the real estate investment trust's stock worth $31,206,000 after buying an additional 2,024,090 shares during the last quarter. Wellington Management Group LLP increased its stake in Rithm Capital by 36.3% during the 1st quarter. Wellington Management Group LLP now owns 4,907,737 shares of the real estate investment trust's stock worth $56,194,000 after buying an additional 1,307,276 shares in the last quarter. Nuveen LLC acquired a new position in shares of Rithm Capital during the first quarter valued at approximately $14,086,000. Finally, Goldman Sachs Group Inc. lifted its position in shares of Rithm Capital by 75.6% in the first quarter. Goldman Sachs Group Inc. now owns 1,539,483 shares of the real estate investment trust's stock valued at $17,627,000 after acquiring an additional 662,585 shares in the last quarter. 44.92% of the stock is currently owned by institutional investors and hedge funds.

Rithm Capital Trading Down 2.2%

Shares of RITM stock opened at $10.90 on Tuesday. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 1.63. Rithm Capital Corp. has a twelve month low of $9.13 and a twelve month high of $12.74. The company's 50-day moving average price is $12.13 and its 200-day moving average price is $11.53. The stock has a market cap of $5.78 billion, a price-to-earnings ratio of 8.38 and a beta of 1.31.

Rithm Capital (NYSE:RITM - Get Free Report) last issued its earnings results on Monday, July 28th. The real estate investment trust reported $0.54 EPS for the quarter, topping analysts' consensus estimates of $0.51 by $0.03. The company had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.18 billion. Rithm Capital had a net margin of 16.72% and a return on equity of 18.89%. As a group, equities analysts predict that Rithm Capital Corp. will post 1.93 earnings per share for the current year.

Rithm Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Wednesday, October 1st will be issued a $0.25 dividend. The ex-dividend date is Wednesday, October 1st. This represents a $1.00 dividend on an annualized basis and a yield of 9.2%. Rithm Capital's dividend payout ratio is currently 76.92%.

Analyst Upgrades and Downgrades

Several brokerages recently commented on RITM. Keefe, Bruyette & Woods boosted their price target on Rithm Capital from $13.50 to $14.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 29th. BTIG Research reiterated a "buy" rating and issued a $16.00 target price on shares of Rithm Capital in a research report on Wednesday, September 17th. Wedbush reissued an "outperform" rating and issued a $14.00 price target on shares of Rithm Capital in a research note on Wednesday, August 6th. Jones Trading upped their price objective on shares of Rithm Capital from $12.50 to $13.50 and gave the company a "buy" rating in a research note on Tuesday, July 29th. Finally, UBS Group raised their target price on shares of Rithm Capital from $14.00 to $16.00 and gave the stock a "buy" rating in a research note on Wednesday, September 3rd. One research analyst has rated the stock with a Strong Buy rating and nine have issued a Buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Buy" and an average target price of $14.25.

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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