Victory Capital Management Inc. Buys 276,018 Shares of Rithm Capital Corp. (NYSE:RITM)

Key Points

• Victory Capital Management Inc. increased its stake in Rithm Capital Corp. by 115.9% during Q1, holding approximately $5.89 million in total.
• Several analysts have rated Rithm Capital as a "buy," with a consensus price target of $13.69, highlighting strong investor interest.
• Rithm Capital recently declared a quarterly dividend of $0.25 per share, yielding 8.21%, demonstrating its commitment to returning value to shareholders.

Victory Capital Management Inc. increased its position in Rithm Capital Corp. (NYSE:RITM - Free Report) by 115.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 514,206 shares of the real estate investment trust's stock after purchasing an additional 276,018 shares during the quarter. Victory Capital Management Inc. owned approximately 0.10% of Rithm Capital worth $5,888,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Fourth Dimension Wealth LLC raised its stake in shares of Rithm Capital by 50.0% during the first quarter. Fourth Dimension Wealth LLC now owns 3,000 shares of the real estate investment trust's stock worth $34,000 after buying an additional 1,000 shares during the last quarter. Vident Advisory LLC grew its holdings in Rithm Capital by 7.3% during the 4th quarter. Vident Advisory LLC now owns 15,509 shares of the real estate investment trust's stock worth $168,000 after acquiring an additional 1,051 shares during the period. Sowell Financial Services LLC raised its position in shares of Rithm Capital by 3.2% during the 1st quarter. Sowell Financial Services LLC now owns 35,680 shares of the real estate investment trust's stock valued at $409,000 after acquiring an additional 1,108 shares during the last quarter. Quadrant Capital Group LLC raised its position in shares of Rithm Capital by 35.2% during 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 acquiring an additional 1,211 shares during the last quarter. Finally, CWM LLC lifted its stake in shares of Rithm Capital by 25.5% in the 1st quarter. CWM LLC now owns 6,046 shares of the real estate investment trust's stock valued at $69,000 after purchasing an additional 1,228 shares during the period. 44.92% of the stock is owned by institutional investors.

Rithm Capital Stock Down 1.4%

Shares of NYSE:RITM traded down $0.17 during midday trading on Wednesday, reaching $12.20. 5,213,658 shares of the company were exchanged, compared to its average volume of 3,988,657. The firm has a market cap of $6.47 billion, a PE ratio of 9.38 and a beta of 1.25. Rithm Capital Corp. has a fifty-two week low of $9.13 and a fifty-two week high of $12.59. The stock has a fifty day simple moving average of $11.52 and a two-hundred day simple moving average of $11.37. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 1.68.

Rithm Capital (NYSE:RITM - Get Free Report) last issued its quarterly earnings results on Monday, July 28th. The real estate investment trust reported $0.54 EPS for the quarter, beating analysts' consensus estimates of $0.51 by $0.03. The company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.18 billion. Rithm Capital had a return on equity of 19.07% and a net margin of 16.72%. As a group, sell-side analysts forecast that Rithm Capital Corp. will post 1.93 earnings per share for the current year.

Rithm Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be issued a $0.25 dividend. The ex-dividend date is Monday, June 30th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.20%. Rithm Capital's dividend payout ratio (DPR) is presently 76.92%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on RITM shares. Wedbush reaffirmed an "outperform" rating and set a $14.00 price objective on shares of Rithm Capital in a research note on Monday, May 19th. Piper Sandler upgraded Rithm Capital from a "neutral" rating to an "overweight" rating and boosted their target price for the stock from $12.50 to $14.00 in a research report on Monday, April 28th. Jones Trading upped their price target on Rithm Capital from $12.50 to $13.50 and gave the company a "buy" rating in a research note on Tuesday. UBS Group reiterated a "buy" rating and issued a $14.00 price target (up from $13.00) on shares of Rithm Capital in a research report on Tuesday, July 15th. Finally, BTIG Research reaffirmed a "buy" rating and issued a $16.00 target price on shares of Rithm Capital in a research note on Friday, April 25th. Eight research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Buy" and a consensus target price of $13.88.

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.