MQS Management LLC Sells 2,316 Shares of Rithm Capital Corp. $RITM

MQS Management LLC cut its stake in shares of Rithm Capital Corp. (NYSE:RITM) by 4.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 45,735 shares of the real estate investment trust’s stock after selling 2,316 shares during the quarter. MQS Management LLC’s holdings in Rithm Capital were worth $516,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. SouthState Corp bought a new stake in shares of Rithm Capital during the 1st quarter valued at approximately $25,000. Cullen Frost Bankers Inc. bought a new stake in shares of Rithm Capital during the 2nd quarter valued at approximately $30,000. Ameritas Advisory Services LLC bought a new stake in shares of Rithm Capital during the 2nd quarter valued at approximately $43,000. SVB Wealth LLC bought a new stake in shares of Rithm Capital during the 1st quarter valued at approximately $57,000. Finally, GAMMA Investing LLC grew its holdings in shares of 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 valued at $62,000 after purchasing an additional 887 shares during the last quarter. 44.92% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

RITM has been the topic of several research reports. Jones Trading lifted their price target 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. BTIG Research reiterated a “buy” rating and set a $16.00 target price on shares of Rithm Capital in a research report on Wednesday, September 17th. Weiss Ratings reiterated a “buy (b)” rating on shares of Rithm Capital in a research report on Saturday. Royal Bank Of Canada lifted their target price on shares of Rithm Capital from $13.00 to $14.00 and gave the stock an “outperform” rating in a research report on Friday, August 1st. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Rithm Capital from $13.50 to $14.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 29th. One research analyst has rated the stock with a Strong Buy rating and nine have given a Buy rating to the company. According to MarketBeat.com, Rithm Capital currently has an average rating of “Buy” and a consensus price target of $14.25.

Rithm Capital Stock Up 0.3%

Shares of NYSE RITM opened at $10.87 on Friday. The company has a market capitalization of $5.76 billion, a P/E ratio of 8.36 and a beta of 1.31. Rithm Capital Corp. has a 52-week low of $9.13 and a 52-week high of $12.74. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.40 and a current ratio of 0.40. The company’s 50 day moving average price is $11.74 and its 200-day moving average price is $11.51.

Rithm Capital (NYSE:RITM) 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, topping analysts’ consensus estimates of $0.51 by $0.03. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.18 billion. Rithm Capital had a net margin of 16.72% and a return on equity of 18.89%. Equities analysts forecast that Rithm Capital Corp. will post 1.93 earnings per share for the current year.

Rithm Capital Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Wednesday, October 1st will be given a $0.25 dividend. The ex-dividend date is Wednesday, October 1st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.2%. Rithm Capital’s payout ratio is 76.92%.

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.