Rithm Capital Corp. $RITM Shares Purchased by Royal Bank of Canada

Royal Bank of Canada lifted its position in Rithm Capital Corp. (NYSE:RITM - Free Report) by 5.1% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,776,105 shares of the real estate investment trust's stock after purchasing an additional 86,394 shares during the period. Royal Bank of Canada owned about 0.34% of Rithm Capital worth $20,336,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also modified their holdings of the business. KBC Group NV lifted its stake in Rithm Capital by 24.0% in the first quarter. KBC Group NV now owns 22,846 shares of the real estate investment trust's stock worth $262,000 after acquiring an additional 4,423 shares during the last quarter. Edgestream Partners L.P. increased its stake in shares of Rithm Capital by 341.5% in the first quarter. Edgestream Partners L.P. now owns 688,882 shares of the real estate investment trust's stock worth $7,888,000 after buying an additional 532,866 shares during the last quarter. Amalgamated Bank boosted its holdings in Rithm Capital by 5.9% in the first quarter. Amalgamated Bank now owns 27,064 shares of the real estate investment trust's stock worth $310,000 after purchasing an additional 1,502 shares during the period. Bleakley Financial Group LLC lifted its holdings in Rithm Capital by 197.1% in the first quarter. Bleakley Financial Group LLC now owns 36,428 shares of the real estate investment trust's stock worth $417,000 after purchasing an additional 24,166 shares during the period. Finally, Nomura Holdings Inc. raised its holdings in Rithm Capital by 43.4% during the 1st quarter. Nomura Holdings Inc. now owns 1,842,125 shares of the real estate investment trust's stock worth $21,092,000 after buying an additional 557,482 shares during the period. Institutional investors own 44.92% of the company's stock.

Rithm Capital Stock Performance

Shares of RITM traded down $0.16 during mid-day trading on Friday, hitting $12.38. The stock had a trading volume of 5,032,203 shares, compared to its average volume of 4,230,302. The firm has a market cap of $6.56 billion, a P/E ratio of 9.52 and a beta of 1.30. Rithm Capital Corp. has a 52 week low of $9.13 and a 52 week high of $12.74. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.40 and a quick ratio of 0.40. The business has a fifty day moving average price of $12.20 and a 200-day moving average price of $11.54.

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

Rithm Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Monday, June 30th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 8.1%. The ex-dividend date was Monday, June 30th. Rithm Capital's payout ratio is presently 76.92%.

Analyst Ratings Changes

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