XTX Topco Ltd Makes New Investment in Rithm Capital Corp. (NYSE:RITM)

Key Points

• XTX Topco Ltd has acquired a new position in Rithm Capital Corp (NYSE:RITM), purchasing 23,401 shares valued at approximately $268,000 in the 1st quarter.
• Analysts have set a range of target prices for Rithm Capital, with the average target at $14.00, while maintaining a positive outlook with several ratings of "buy" or "outperform."
• Rithm Capital recently declared a quarterly dividend of $0.25 per share, representing an 8.2% annual yield, with a payout ratio of 76.92%.

XTX Topco Ltd purchased a new stake in Rithm Capital Corp. (NYSE:RITM - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 23,401 shares of the real estate investment trust's stock, valued at approximately $268,000.

A number of other institutional investors have also recently bought and sold shares of RITM. Wells Fargo & Company MN lifted its stake in Rithm Capital by 113.9% in the fourth quarter. Wells Fargo & Company MN now owns 1,464,456 shares of the real estate investment trust's stock valued at $15,860,000 after buying an additional 779,771 shares in the last quarter. Envestnet Asset Management Inc. lifted its stake in Rithm Capital by 144.4% in the fourth quarter. Envestnet Asset Management Inc. now owns 205,963 shares of the real estate investment trust's stock valued at $2,231,000 after buying an additional 121,706 shares in the last quarter. Bank of Montreal Can raised its holdings in shares of Rithm Capital by 31.6% in the fourth quarter. Bank of Montreal Can now owns 26,379 shares of the real estate investment trust's stock valued at $286,000 after purchasing an additional 6,328 shares during the last quarter. Invesco Ltd. raised its holdings in shares of Rithm Capital by 9.1% in the fourth quarter. Invesco Ltd. now owns 778,190 shares of the real estate investment trust's stock valued at $8,428,000 after purchasing an additional 64,635 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Rithm Capital in the fourth quarter valued at approximately $7,572,000. Institutional investors own 44.92% of the company's stock.

Rithm Capital Stock Up 0.2%

RITM traded up $0.03 during trading on Thursday, reaching $12.37. 3,158,490 shares of the stock were exchanged, compared to its average volume of 4,587,438. The stock has a market cap of $6.56 billion, a P/E ratio of 9.51 and a beta of 1.25. Rithm Capital Corp. has a twelve month low of $9.13 and a twelve month high of $12.59. The stock's 50 day moving average price is $11.74 and its two-hundred day moving average price is $11.44. 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 (NYSE:RITM - Get Free Report) last released its quarterly earnings data on Monday, July 28th. The real estate investment trust reported $0.54 EPS for the quarter, topping analysts' consensus estimates of $0.51 by $0.03. Rithm Capital had a net margin of 16.72% and a return on equity of 18.89%. The firm had revenue of $1.22 billion during the quarter, compared to analysts' expectations of $1.18 billion. Equities analysts expect that Rithm Capital Corp. will post 1.93 EPS for the current year.

Rithm Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, June 30th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 8.1%. The ex-dividend date of this dividend was Monday, June 30th. Rithm Capital's payout ratio is 76.92%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on RITM. UBS Group reiterated a "buy" rating and issued a $14.00 price objective (up from $13.00) on shares of Rithm Capital in a report on Tuesday, July 15th. Jones Trading lifted their price objective on shares of Rithm Capital from $12.50 to $13.50 and gave the company a "buy" rating in a report on Tuesday, July 29th. Royal Bank Of Canada lifted their price objective on shares of Rithm Capital from $13.00 to $14.00 and gave the company an "outperform" rating in a report on Friday, August 1st. Piper Sandler upgraded shares of Rithm Capital from a "neutral" rating to an "overweight" rating and lifted their price objective for the company from $12.50 to $14.00 in a report on Monday, April 28th. Finally, Keefe, Bruyette & Woods lifted their price objective on shares of Rithm Capital from $13.50 to $14.00 and gave the company an "outperform" rating in a report on Tuesday, July 29th. Eight analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $14.00.

Rithm Capital 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.