Rithm Capital Corp. $RITM Position Decreased by MGO One Seven LLC

MGO One Seven LLC lowered its holdings in Rithm Capital Corp. (NYSE:RITM) by 6.6% during the 4th quarter, HoldingsChannel.com reports. The firm owned 796,868 shares of the real estate investment trust’s stock after selling 55,906 shares during the quarter. MGO One Seven LLC’s holdings in Rithm Capital were worth $8,686,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Qube Research & Technologies Ltd boosted its holdings in Rithm Capital by 80.7% during the third quarter. Qube Research & Technologies Ltd now owns 7,890,987 shares of the real estate investment trust’s stock worth $89,878,000 after buying an additional 3,524,330 shares in the last quarter. UBS Group AG increased its holdings in shares of Rithm Capital by 127.9% in the third quarter. UBS Group AG now owns 3,718,822 shares of the real estate investment trust’s stock valued at $42,357,000 after buying an additional 2,087,282 shares in the last quarter. Balyasny Asset Management L.P. lifted its position in shares of Rithm Capital by 52.1% during the 3rd quarter. Balyasny Asset Management L.P. now owns 5,939,093 shares of the real estate investment trust’s stock valued at $67,646,000 after acquiring an additional 2,033,973 shares during the last quarter. Meteora Capital LLC bought a new stake in shares of Rithm Capital during the 3rd quarter worth $19,441,000. Finally, Vanguard Group Inc. boosted its stake in shares of Rithm Capital by 2.4% during the 4th quarter. Vanguard Group Inc. now owns 50,282,841 shares of the real estate investment trust’s stock worth $548,083,000 after acquiring an additional 1,191,923 shares in the last quarter. 44.92% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on RITM shares. JonesTrading reaffirmed a “buy” rating and set a $13.50 target price on shares of Rithm Capital in a research report on Tuesday, April 28th. Keefe, Bruyette & Woods decreased their price target on Rithm Capital from $14.00 to $13.00 and set an “outperform” rating for the company in a research report on Friday, May 1st. Capital One Financial set a $12.50 price objective on Rithm Capital in a report on Thursday, April 9th. BTIG Research reaffirmed a “buy” rating and set a $16.00 price objective on shares of Rithm Capital in a research note on Friday, April 10th. Finally, UBS Group decreased their target price on shares of Rithm Capital from $15.00 to $14.50 and set a “buy” rating for the company in a report on Friday, April 10th. Seven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $13.63.

Rithm Capital Price Performance

Shares of NYSE:RITM opened at $9.79 on Friday. The company’s fifty day moving average is $9.72 and its two-hundred day moving average is $10.61. The company has a market cap of $5.47 billion, a P/E ratio of 8.98 and a beta of 1.17. Rithm Capital Corp. has a 12-month low of $8.43 and a 12-month high of $12.74. The company has a quick ratio of 0.58, a current ratio of 1.28 and a debt-to-equity ratio of 4.02.

Rithm Capital (NYSE:RITM) last issued its earnings results on Tuesday, April 28th. The real estate investment trust reported $0.51 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.02). Rithm Capital had a return on equity of 19.48% and a net margin of 14.44%.The business had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.27 billion. Equities analysts expect that Rithm Capital Corp. will post 2.28 earnings per share for the current fiscal year.

Rithm Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, April 30th. Shareholders of record on Monday, April 6th were given a dividend of $0.25 per share. The ex-dividend date was Monday, April 6th. This represents a $1.00 dividend on an annualized basis and a yield of 10.2%. Rithm Capital’s dividend payout ratio (DPR) is presently 91.74%.

Rithm Capital Profile

Rithm Capital Corporation is a specialty finance company that originates, acquires and manages structured credit investments collateralized by real estate assets in the United States. The company focuses primarily on senior floating-rate loans secured by multifamily, commercial, industrial and single-family rental properties, aiming to deliver attractive risk-adjusted yields through a diversified portfolio of floating-rate real estate debt.

In addition to senior loans, Rithm Capital invests in residential mortgage-backed securities, including agency and non-agency pools, as well as other real estate-related credit instruments.