Melia Wealth LLC Grows Holdings in Rithm Capital Corp. $RITM

Melia Wealth LLC grew its stake in Rithm Capital Corp. (NYSE:RITMFree Report) by 3.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 233,784 shares of the real estate investment trust’s stock after buying an additional 7,495 shares during the period. Rithm Capital makes up about 1.3% of Melia Wealth LLC’s holdings, making the stock its 15th biggest holding. Melia Wealth LLC’s holdings in Rithm Capital were worth $2,639,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Kingstone Capital Partners Texas LLC purchased a new position in Rithm Capital in the 2nd quarter worth approximately $96,027,000. KBC Group NV grew its stake in Rithm Capital by 24.0% in the 1st quarter. KBC Group NV now owns 22,846 shares of the real estate investment trust’s stock worth $262,000 after buying an additional 4,423 shares in the last quarter. Belpointe Asset Management LLC grew its stake in 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 worth $624,000 after buying an additional 24,920 shares in the last quarter. Edgestream Partners L.P. grew its stake in Rithm Capital by 341.5% in the 1st quarter. Edgestream Partners L.P. now owns 688,882 shares of the real estate investment trust’s stock worth $7,888,000 after buying an additional 532,866 shares in the last quarter. Finally, Amalgamated Bank grew its stake in Rithm Capital by 5.9% in the 1st quarter. Amalgamated Bank now owns 27,064 shares of the real estate investment trust’s stock worth $310,000 after buying an additional 1,502 shares in the last quarter. Hedge funds and other institutional investors own 44.92% of the company’s stock.

Rithm Capital Stock Up 1.1%

Shares of NYSE RITM opened at $10.77 on Tuesday. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 1.63. Rithm Capital Corp. has a 12 month low of $9.13 and a 12 month high of $12.74. The firm has a market capitalization of $5.71 billion, a PE ratio of 8.28 and a beta of 1.31. The firm has a fifty day simple moving average of $12.00 and a two-hundred day simple moving average of $11.50.

Rithm Capital (NYSE:RITMGet Free Report) last issued its quarterly earnings data on Monday, July 28th. The real estate investment trust reported $0.54 EPS for the quarter, topping the consensus estimate of $0.51 by $0.03. Rithm Capital had a net margin of 16.72% and a return on equity of 18.89%. The business had revenue of $1.22 billion during the quarter, compared to analyst estimates of $1.18 billion. Equities analysts expect that Rithm Capital Corp. will post 1.93 earnings per share for the current year.

Rithm Capital Dividend Announcement

The business also recently disclosed 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. The ex-dividend date is Wednesday, October 1st. This represents a $1.00 annualized dividend and a yield of 9.3%. Rithm Capital’s dividend payout ratio is 76.92%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Royal Bank Of Canada boosted their price target on shares of Rithm Capital from $13.00 to $14.00 and gave the stock an “outperform” rating in a research note on Friday, August 1st. BTIG Research restated a “buy” rating and issued a $16.00 price objective on shares of Rithm Capital in a report on Wednesday, September 17th. Weiss Ratings restated a “buy (b)” rating on shares of Rithm Capital in a report on Wednesday, October 8th. Wedbush restated an “outperform” rating and issued a $14.00 price objective on shares of Rithm Capital in a report on Wednesday, August 6th. Finally, Keefe, Bruyette & Woods boosted their price objective on shares of Rithm Capital from $13.50 to $14.00 and gave the stock an “outperform” rating in a report on Tuesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating and nine have assigned a Buy rating to the company. According to MarketBeat, Rithm Capital presently has a consensus rating of “Buy” and an average target price of $14.25.

Get Our Latest Stock Report on Rithm Capital

Rithm Capital Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Rithm Capital (NYSE:RITM)

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