Rithm Capital Corp. (RITM:NYE) has seen a new investment from Duality Advisers LP in the 4th quarter, according to its latest 13F filing with the Securities and Exchange Commission. The fund has acquired 32,639 RITM stock shares with a value of around $267,000.
Hedge Funds & Institutional Holdings:
Other institutional investors have also made changes to their stakes in the company, with Vanguard Group Inc. increasing its stake by 0.8% in the 1st quarter, bringing its total ownership to 42,301,286 shares worth $464,468,000.
State Street Corp also boosted its stake by 6.9% to 7,614,852 shares valued at $83,611,000, while Charles Schwab Investment Management Inc. added 124,972 shares to bring its stake to 4,260,688 shares worth $46,783,000.
Additionally, First Trust Advisors LP increased its stake by 52.8%, and Royal Bank of Canada added 92,015 shares, resulting in 47.30% of RITM stock currently owned by institutional investors.
RITM Stock Price Analysis:
On Monday, RITM stock opened at $7.88, with a market cap of $3.81 billion, a P/E ratio of 14.07, and a beta of 1.79. The company has a quick ratio and a current ratio of 0.32, and a debt-to-equity ratio of 0.09. Its 50-day simple moving average stands at $8.11, while its 200-day simple moving average is $8.57.
Quarterly Earnings Review:
The REIT recently announced its Q1 earnings, reporting $0.35 earnings per share, beating the consensus estimate of $0.32 by $0.03. Rithm Capital had a return on equity of 12.36% and a net margin of 9.52%. The company’s Q1 revenue was $783.42 million, compared to the consensus estimate of $807.88 million. Analysts expect the company to post $1.36 EPS for the current fiscal year.
RITM Stock Dividend:
Rithm Capital also recently paid out a quarterly dividend of $0.25 per share on April 28th to shareholders of record on March 31st. Its payout ratio currently stands at 178.57%.
RITM Stock-Analyst Ratings:
Analysts have given RITM stock an average rating of “Strong Buy” and a consensus price target of $10.50, with JMP Securities lowering their target price from $11.00 to $9.00 and maintaining an “outperform” rating for the company in a research report on April 21st.
Rithm Capital Corp. operates as an investment manager that operates a vertically integrated mortgage platform and invests in real estate and related properties in the United States and Europe. The company provides capital and services to the real estate and financial services sectors.
The company was formerly known as New Residential Investment Corp. and changed its name to Rithm Capital Corp. in August 2022. Rithm Capital Corp. was incorporated in 2011 and is headquartered in New York, New York.