Rithm Capital Corp. $RITM Shares Bought by Amundi

Key Points

• Amundi has increased its stake in Rithm Capital Corp. by 3.4% during the 1st quarter, owning approximately 1.3 million shares valued at $14.7 million.
• Multiple hedge funds have also raised their holdings in Rithm Capital, indicating growing institutional interest, with a total of 44.92% of the company's stock owned by institutional investors.
• Rithm Capital announced a quarterly dividend of $0.25 per share, which corresponds to an annual yield of 8.0%, demonstrating a robust payout ratio of 76.92%.

Amundi raised its holdings in shares of Rithm Capital Corp. (NYSE:RITM - Free Report) by 3.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,304,678 shares of the real estate investment trust's stock after purchasing an additional 42,683 shares during the period. Amundi owned 0.25% of Rithm Capital worth $14,678,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in RITM. The Manufacturers Life Insurance Company raised its position in Rithm Capital by 4.5% during the 4th quarter. The Manufacturers Life Insurance Company now owns 130,353 shares of the real estate investment trust's stock worth $1,412,000 after buying an additional 5,654 shares during the last quarter. Ameriprise Financial Inc. raised its position in Rithm Capital by 7.6% during the 4th quarter. Ameriprise Financial Inc. now owns 803,233 shares of the real estate investment trust's stock worth $8,702,000 after buying an additional 56,992 shares during the last quarter. Cetera Investment Advisers raised its position in Rithm Capital by 3.7% during the 4th quarter. Cetera Investment Advisers now owns 277,531 shares of the real estate investment trust's stock worth $3,006,000 after buying an additional 9,936 shares during the last quarter. D. E. Shaw & Co. Inc. grew its position in Rithm Capital by 18.0% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 1,215,667 shares of the real estate investment trust's stock worth $13,166,000 after purchasing an additional 185,476 shares during the period. Finally, Focus Partners Wealth grew its position in Rithm Capital by 25.3% during the 4th quarter. Focus Partners Wealth now owns 13,957 shares of the real estate investment trust's stock worth $151,000 after purchasing an additional 2,817 shares during the period. 44.92% of the stock is owned by institutional investors and hedge funds.

Rithm Capital Price Performance

Shares of Rithm Capital stock traded down $0.16 on Friday, hitting $12.38. 5,032,203 shares of the company were exchanged, compared to its average volume of 4,230,302. The stock has a market capitalization of $6.56 billion, a price-to-earnings ratio of 9.52 and a beta of 1.30. The company has a 50-day moving average price of $12.20 and a 200 day moving average price of $11.54. Rithm Capital Corp. has a 1-year low of $9.13 and a 1-year high of $12.74. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 1.63.

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

Rithm Capital Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, June 30th were given a $0.25 dividend. 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 8.1%. Rithm Capital's payout ratio is presently 76.92%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on RITM. Wedbush reaffirmed an "outperform" rating and set a $14.00 price target on shares of Rithm Capital in a research report on Wednesday, August 6th. Royal Bank Of Canada raised their target price on Rithm Capital from $13.00 to $14.00 and gave the company an "outperform" rating in a research report on Friday, August 1st. Jones Trading lifted their price objective on Rithm Capital from $12.50 to $13.50 and gave the stock a "buy" rating in a report on Tuesday, July 29th. UBS Group lifted their price objective on Rithm Capital from $14.00 to $16.00 and gave the stock a "buy" rating in a report on Wednesday, September 3rd. Finally, Keefe, Bruyette & Woods lifted their price objective on Rithm Capital from $13.50 to $14.00 and gave the stock an "outperform" rating in a report on Tuesday, July 29th. One equities research analyst has rated the stock with a Strong Buy rating and eight have given a Buy rating to the stock. According to data from MarketBeat.com, Rithm Capital currently has a consensus rating of "Buy" and a consensus target price of $14.25.

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.