Teacher Retirement System of Texas Decreases Stake in Rithm Capital Corp. (NYSE:RITM)

Teacher Retirement System of Texas trimmed its position in Rithm Capital Corp. (NYSE:RITM - Free Report) by 26.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 327,661 shares of the real estate investment trust's stock after selling 119,872 shares during the period. Teacher Retirement System of Texas owned approximately 0.06% of Rithm Capital worth $3,752,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Fourth Dimension Wealth LLC grew its position in Rithm Capital by 50.0% in the 1st quarter. Fourth Dimension Wealth LLC now owns 3,000 shares of the real estate investment trust's stock valued at $34,000 after buying an additional 1,000 shares during the last quarter. Quarry LP grew its position in Rithm Capital by 47.5% in the 4th quarter. Quarry LP now owns 4,118 shares of the real estate investment trust's stock valued at $45,000 after buying an additional 1,327 shares during the last quarter. Quadrant Capital Group LLC grew its position in Rithm Capital by 35.2% in the 4th quarter. Quadrant Capital Group LLC now owns 4,655 shares of the real estate investment trust's stock valued at $50,000 after buying an additional 1,211 shares during the last quarter. Quent Capital LLC grew its position in Rithm Capital by 58.6% in the 1st quarter. Quent Capital LLC now owns 5,465 shares of the real estate investment trust's stock valued at $63,000 after buying an additional 2,019 shares during the last quarter. Finally, Rossby Financial LCC acquired a new stake in Rithm Capital in the first quarter valued at $79,000. 44.92% of the stock is currently owned by hedge funds and other institutional investors.

Rithm Capital Price Performance

Rithm Capital stock traded up $0.07 during midday trading on Wednesday, reaching $11.72. 2,682,512 shares of the company were exchanged, compared to its average volume of 4,153,194. The company has a market capitalization of $6.21 billion, a price-to-earnings ratio of 9.77 and a beta of 1.25. The firm's 50-day simple moving average is $11.34 and its 200-day simple moving average is $11.26. Rithm Capital Corp. has a 1 year low of $9.13 and a 1 year high of $12.20. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.35 and a current ratio of 0.35.

Rithm Capital (NYSE:RITM - Get Free Report) last posted its quarterly earnings data on Friday, April 25th. The real estate investment trust reported $0.52 EPS for the quarter, topping analysts' consensus estimates of $0.45 by $0.07. The firm had revenue of $28.89 million during the quarter, compared to analysts' expectations of $1.27 billion. Rithm Capital had a return on equity of 18.38% and a net margin of 15.06%. During the same quarter last year, the business posted $0.48 EPS. On average, analysts anticipate that Rithm Capital Corp. will post 1.93 EPS for the current year.

Rithm Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Shareholders of record on Monday, June 30th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 8.53%. The ex-dividend date is Monday, June 30th. Rithm Capital's dividend payout ratio (DPR) is 83.33%.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Royal Bank Of Canada reissued an "outperform" rating and issued a $13.00 target price on shares of Rithm Capital in a report on Tuesday, May 20th. Jones Trading reissued a "buy" rating and issued a $12.50 target price on shares of Rithm Capital in a report on Tuesday, April 29th. BTIG Research reissued a "buy" rating and issued a $16.00 target price on shares of Rithm Capital in a report on Friday, April 25th. Wedbush reissued an "outperform" rating and issued a $14.00 target price on shares of Rithm Capital in a report on Monday, May 19th. Finally, Piper Sandler raised Rithm Capital from a "neutral" rating to an "overweight" rating and lifted their price target for the stock from $12.50 to $14.00 in a research note on Monday, April 28th. Eight research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $13.56.

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.