Royal Bank of Canada Raises Holdings in Rithm Capital Corp. $RITM

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

Several other hedge funds and other institutional investors have also added to or reduced their stakes in RITM. The Manufacturers Life Insurance Company boosted its position in shares of 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 valued at $1,412,000 after acquiring an additional 5,654 shares during the last quarter. Ameriprise Financial Inc. boosted its position in shares of 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 valued at $8,702,000 after acquiring an additional 56,992 shares during the last quarter. Cetera Investment Advisers boosted its position in shares of 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 valued at $3,006,000 after acquiring an additional 9,936 shares during the last quarter. D. E. Shaw & Co. Inc. increased its stake in Rithm Capital by 18.0% in the fourth 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 increased its stake in shares of Rithm Capital by 25.3% during the fourth quarter. Focus Partners Wealth now owns 13,957 shares of the real estate investment trust's stock valued at $151,000 after buying an additional 2,817 shares during the period. 44.92% of the stock is currently owned by institutional investors.

Rithm Capital Stock Performance

RITM stock traded down $0.14 during trading on Friday, hitting $12.41. 2,035,481 shares of the company traded hands, compared to its average volume of 4,555,814. The stock's 50-day simple moving average is $12.19 and its 200 day simple moving average is $11.54. 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 company has a market cap of $6.58 billion, a PE ratio of 9.54 and a beta of 1.30. Rithm Capital Corp. has a 1 year low of $9.13 and a 1 year high of $12.74.

Rithm Capital (NYSE:RITM - Get Free Report) last released its quarterly earnings data on Monday, July 28th. The real estate investment trust reported $0.54 earnings per share for the quarter, beating analysts' consensus estimates 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 net margin of 16.72% and a return on equity of 18.89%. On average, equities analysts expect that Rithm Capital Corp. will post 1.93 earnings per share for the current fiscal year.

Rithm Capital Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Monday, June 30th were paid 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 dividend yield of 8.1%. Rithm Capital's payout ratio is currently 76.92%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. Jones Trading raised their price target on Rithm Capital from $12.50 to $13.50 and gave the stock a "buy" rating in a 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 stock an "outperform" rating in a report on Friday, August 1st. UBS Group raised 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. Keefe, Bruyette & Woods raised their price target on Rithm Capital from $13.50 to $14.00 and gave the stock an "outperform" rating in a report on Tuesday, July 29th. Finally, Wedbush reissued an "outperform" rating and issued a $14.00 price target on shares of Rithm Capital in a report on Wednesday, August 6th. One research analyst has rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Buy" and an average price target 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.