Rithm Capital (NYSE:RITM) Sees Unusually-High Trading Volume - Here's Why

Key Points

• Rithm Capital's trading volume surged to 5,107,369 shares, representing an 8% increase from the previous session, with the stock last trading at $11.69.
• Multiple analysts have placed buy ratings on Rithm Capital, with price target upgrades from firms like UBS Group and BTIG Research now setting targets as high as $16.00.
• The company declared a quarterly dividend of $0.25 per share, reflecting an annualized yield of 8.6%, with a payment date scheduled for October 31st.

Rithm Capital Corp. (NYSE:RITM - Get Free Report) shares saw an uptick in trading volume on Wednesday . 5,107,369 shares changed hands during trading, an increase of 8% from the previous session's volume of 4,707,263 shares.The stock last traded at $11.69 and had previously closed at $11.76.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on RITM. Wedbush reissued an "outperform" rating and set a $14.00 price target on shares of Rithm Capital in a report on Wednesday, August 6th. UBS Group lifted their price target on Rithm Capital from $14.00 to $16.00 and gave the stock a "buy" rating in a report on Wednesday, September 3rd. Royal Bank Of Canada lifted their price target on Rithm Capital from $13.00 to $14.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. BTIG Research reaffirmed a "buy" rating and issued a $16.00 price objective on shares of Rithm Capital in a report on Wednesday, September 17th. Finally, Keefe, Bruyette & Woods lifted their price objective on Rithm Capital from $13.50 to $14.00 and gave the company an "outperform" rating in a report on Tuesday, July 29th. One research analyst has rated the stock with a Strong Buy rating and eight have given a Buy rating to the company. Based on data from MarketBeat, Rithm Capital currently has an average rating of "Buy" and an average target price of $14.25.

Rithm Capital Stock Performance

The company has a 50 day moving average price of $12.26 and a 200-day moving average price of $11.55. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 1.63. The company has a market cap of $6.20 billion, a P/E ratio of 9.00 and a beta of 1.30.

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 earnings per share (EPS) for the quarter, beating 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 company had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.18 billion. On average, equities analysts expect that Rithm Capital Corp. will post 1.93 earnings per share for the current fiscal year.

Rithm Capital Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Wednesday, October 1st will be paid a $0.25 dividend. The ex-dividend date is Wednesday, October 1st. This represents a $1.00 annualized dividend and a dividend yield of 8.6%. Rithm Capital's dividend payout ratio (DPR) is presently 76.92%.

Institutional Investors Weigh In On Rithm Capital

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Curi Capital LLC grew its position in Rithm Capital by 0.7% during the 2nd quarter. Curi Capital LLC now owns 120,262 shares of the real estate investment trust's stock worth $1,358,000 after acquiring an additional 829 shares during the last quarter. Geneos Wealth Management Inc. grew its position in Rithm Capital by 14.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 7,031 shares of the real estate investment trust's stock worth $81,000 after acquiring an additional 881 shares during the last quarter. GAMMA Investing LLC grew its position in Rithm Capital by 19.1% during the 2nd quarter. GAMMA Investing LLC now owns 5,528 shares of the real estate investment trust's stock worth $62,000 after acquiring an additional 887 shares during the last quarter. Sheaff Brock Investment Advisors LLC grew its position in Rithm Capital by 8.8% during the 1st quarter. Sheaff Brock Investment Advisors LLC now owns 11,725 shares of the real estate investment trust's stock worth $134,000 after acquiring an additional 945 shares during the last quarter. Finally, Private Advisor Group LLC grew 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 acquiring an additional 974 shares during the last quarter. Institutional investors own 44.92% of the company's stock.

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.

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