Amundi Raises Position in Rithm Capital Corp. $RITM

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

A number of other institutional investors also recently made changes to their positions in the stock. FJ Capital Management LLC acquired a new position in shares of Rithm Capital in the first quarter worth $1,943,000. Cubist Systematic Strategies LLC acquired a new position in shares of Rithm Capital in the first quarter worth $7,337,000. Royal Bank of Canada raised its holdings in shares of Rithm Capital by 5.1% in the first quarter. Royal Bank of Canada now owns 1,776,105 shares of the real estate investment trust's stock worth $20,336,000 after acquiring an additional 86,394 shares during the last quarter. Quarry LP raised its holdings in shares of Rithm Capital by 251.6% in the first quarter. Quarry LP now owns 14,479 shares of the real estate investment trust's stock worth $166,000 after acquiring an additional 10,361 shares during the last quarter. Finally, Nomura Holdings Inc. raised its holdings in shares of Rithm Capital by 43.4% in the first quarter. Nomura Holdings Inc. now owns 1,842,125 shares of the real estate investment trust's stock worth $21,092,000 after acquiring an additional 557,482 shares during the last quarter. 44.92% of the stock is owned by institutional investors and hedge funds.

Rithm Capital Stock Performance

NYSE:RITM remained flat at $12.38 on Monday. The company's stock had a trading volume of 5,702,005 shares, compared to its average volume of 4,262,563. The stock has a market capitalization of $6.56 billion, a PE ratio of 9.52 and a beta of 1.30. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.40 and a current ratio of 0.40. The business has a fifty day moving average of $12.22 and a two-hundred day moving average of $11.54. Rithm Capital Corp. has a 12 month low of $9.13 and a 12 month high of $12.74.

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

Rithm Capital Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Stockholders 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 annualized dividend and a dividend yield of 8.1%. Rithm Capital's dividend payout ratio is presently 76.92%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on RITM shares. UBS Group boosted their price target on Rithm Capital from $14.00 to $16.00 and gave the stock a "buy" rating in a report on Wednesday, September 3rd. Royal Bank Of Canada upped their target price on Rithm Capital from $13.00 to $14.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. Wedbush reiterated an "outperform" rating and issued a $14.00 target price on shares of Rithm Capital in a research note on Wednesday, August 6th. Keefe, Bruyette & Woods upped their target price on Rithm Capital from $13.50 to $14.00 and gave the company an "outperform" rating in a research note on Tuesday, July 29th. Finally, Jones Trading upped their target price on Rithm Capital from $12.50 to $13.50 and gave the company a "buy" rating in a research note on Tuesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating and eight have issued a Buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Buy" and a consensus target price of $14.25.

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.