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

Other hedge funds have also recently made changes to their positions in the company. KBC Group NV boosted its stake in Rithm Capital by 24.0% during the first quarter. KBC Group NV now owns 22,846 shares of the real estate investment trust's stock valued at $262,000 after buying an additional 4,423 shares during the period. Belpointe Asset Management LLC raised its holdings in shares of Rithm Capital by 84.2% in the 1st quarter. Belpointe Asset Management LLC now owns 54,520 shares of the real estate investment trust's stock valued at $624,000 after acquiring an additional 24,920 shares in the last quarter. Edgestream Partners L.P. boosted its position in shares of Rithm Capital by 341.5% during the 1st quarter. Edgestream Partners L.P. now owns 688,882 shares of the real estate investment trust's stock valued at $7,888,000 after acquiring an additional 532,866 shares during the last quarter. Amalgamated Bank boosted its position in shares of Rithm Capital by 5.9% during the 1st quarter. Amalgamated Bank now owns 27,064 shares of the real estate investment trust's stock valued at $310,000 after acquiring an additional 1,502 shares during the last quarter. Finally, Bleakley Financial Group LLC grew its holdings in shares of Rithm Capital by 197.1% during 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 in the last quarter. 44.92% of the stock is currently owned by hedge funds and other institutional investors.

Rithm Capital Trading Down 2.3%

Shares of RITM traded down $0.28 during trading hours on Monday, hitting $11.84. The company had a trading volume of 7,838,690 shares, compared to its average volume of 5,436,067. Rithm Capital Corp. has a 52-week low of $9.13 and a 52-week high of $12.74. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 1.63. The stock's 50 day moving average price is $12.26 and its 200 day moving average price is $11.55. The firm has a market cap of $6.28 billion, a P/E ratio of 9.10 and a beta of 1.30.

Rithm Capital (NYSE:RITM - Get Free Report) last posted its quarterly 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. Rithm Capital had a return on equity of 18.89% and a net margin of 16.72%.The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.18 billion. On average, research analysts predict that Rithm Capital Corp. will post 1.93 EPS for the current year.

Rithm Capital Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Shareholders of record on Wednesday, October 1st will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 8.4%. The ex-dividend date of this dividend is Wednesday, October 1st. Rithm Capital's dividend payout ratio (DPR) is 76.92%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. UBS Group raised their target price on shares of Rithm Capital from $14.00 to $16.00 and gave the company a "buy" rating in a research note on Wednesday, September 3rd. Royal Bank Of Canada lifted their price objective on shares of Rithm Capital from $13.00 to $14.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. Wedbush reissued an "outperform" rating and issued a $14.00 target price on shares of Rithm Capital in a research note on Wednesday, August 6th. BTIG Research reaffirmed a "buy" rating and set a $16.00 price target on shares of Rithm Capital in a research note on Wednesday, September 17th. Finally, Jones Trading increased their price objective on Rithm Capital from $12.50 to $13.50 and gave the company a "buy" rating in a research report on Tuesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the company's stock. According to MarketBeat, Rithm Capital currently has a consensus rating of "Buy" and a consensus target price 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.