Voya Investment Management LLC Acquires 37,105 Shares of Rithm Capital Corp. $RITM

Key Points

• Voya Investment Management LLC increased its stake in Rithm Capital Corp. by 8.3%, now holding 483,227 shares valued at approximately $5.53 million.
• Multiple large investors, including Wellington Management and Mackenzie Financial Corp, have significantly boosted their positions in Rithm Capital, increasing institutional ownership to 44.92% of the stock.
• Rithm Capital announced a quarterly dividend of $0.25, which equates to an annualized yield of 8.1%, with the ex-dividend date set for October 1st.

Voya Investment Management LLC raised its position in Rithm Capital Corp. (NYSE:RITM - Free Report) by 8.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 483,227 shares of the real estate investment trust's stock after buying an additional 37,105 shares during the period. Voya Investment Management LLC owned 0.09% of Rithm Capital worth $5,533,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Geneos Wealth Management Inc. raised its position in Rithm Capital by 14.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 7,031 shares of the real estate investment trust's stock valued at $81,000 after purchasing an additional 881 shares during the last quarter. Sheaff Brock Investment Advisors LLC raised its holdings in shares of Rithm Capital by 8.8% in the first quarter. Sheaff Brock Investment Advisors LLC now owns 11,725 shares of the real estate investment trust's stock valued at $134,000 after buying an additional 945 shares during the last quarter. Private Advisor Group LLC lifted its position in Rithm Capital by 2.0% during the 1st quarter. Private Advisor Group LLC now owns 50,461 shares of the real estate investment trust's stock worth $578,000 after buying an additional 974 shares in the last quarter. Fourth Dimension Wealth LLC grew its holdings in Rithm Capital by 50.0% during the 1st quarter. Fourth Dimension Wealth LLC now owns 3,000 shares of the real estate investment trust's stock worth $34,000 after acquiring an additional 1,000 shares during the last quarter. Finally, Vident Advisory LLC increased its position in Rithm Capital by 7.3% in the 4th quarter. Vident Advisory LLC now owns 15,509 shares of the real estate investment trust's stock valued at $168,000 after acquiring an additional 1,051 shares in the last quarter. 44.92% of the stock is currently owned by institutional investors.

Rithm Capital Trading Down 1.5%

NYSE:RITM traded down $0.18 during mid-day trading on Friday, hitting $12.11. The company had a trading volume of 9,328,730 shares, compared to its average volume of 5,309,136. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.40 and a current ratio of 0.40. Rithm Capital Corp. has a fifty-two week low of $9.13 and a fifty-two week high of $12.74. The firm has a market cap of $6.42 billion, a P/E ratio of 9.32 and a beta of 1.30. The business's fifty day moving average is $12.26 and its two-hundred day moving average is $11.55.

Rithm Capital (NYSE:RITM - Get Free Report) last posted its earnings results on Monday, July 28th. The real estate investment trust reported $0.54 earnings per share (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, research analysts expect 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 Friday, October 31st. Investors of record on Wednesday, October 1st will be given a $0.25 dividend. The ex-dividend date is Wednesday, October 1st. This represents a $1.00 annualized dividend and a dividend yield of 8.3%. Rithm Capital's payout ratio is currently 76.92%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on RITM shares. UBS Group upped their target price on shares of Rithm Capital from $14.00 to $16.00 and gave the stock a "buy" rating in a research report on Wednesday, September 3rd. Wedbush reiterated an "outperform" rating and issued a $14.00 price objective on shares of Rithm Capital in a research report on Wednesday, August 6th. Jones Trading lifted 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. Royal Bank Of Canada upped 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, Keefe, Bruyette & Woods lifted their price objective on Rithm Capital from $13.50 to $14.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 29th. One analyst has rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the company's stock. According to data from MarketBeat.com, 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.