Burney Co. Buys New Stake in Rithm Capital Corp. (NYSE:RITM)

Burney Co. purchased a new position in shares of Rithm Capital Corp. (NYSE:RITM) in the 1st quarter, Holdings Channel reports. The firm purchased 49,091 shares of the real estate investment trust’s stock, valued at approximately $548,000.

Several other hedge funds also recently bought and sold shares of RITM. EMC Capital Management boosted its stake in shares of Rithm Capital by 28.6% during the first quarter. EMC Capital Management now owns 35,371 shares of the real estate investment trust’s stock valued at $395,000 after acquiring an additional 7,859 shares during the last quarter. Plato Investment Management Ltd acquired a new position in Rithm Capital in the 1st quarter valued at about $170,000. Bayesian Capital Management LP purchased a new position in Rithm Capital in the 1st quarter valued at about $723,000. BlueCrest Capital Management Ltd boosted its stake in shares of Rithm Capital by 1.0% during the 1st quarter. BlueCrest Capital Management Ltd now owns 2,134,661 shares of the real estate investment trust’s stock worth $23,823,000 after purchasing an additional 21,424 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD grew its holdings in shares of Rithm Capital by 7.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 225,902 shares of the real estate investment trust’s stock worth $2,522,000 after buying an additional 15,098 shares in the last quarter. Hedge funds and other institutional investors own 44.92% of the company’s stock.

Rithm Capital Stock Down 1.6 %

NYSE RITM traded down $0.18 during trading hours on Friday, reaching $11.17. 4,762,768 shares of the company traded hands, compared to its average volume of 3,564,569. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.20. Rithm Capital Corp. has a 12 month low of $8.87 and a 12 month high of $11.85. The company has a 50 day moving average of $11.13 and a two-hundred day moving average of $10.98. The stock has a market capitalization of $5.40 billion, a PE ratio of 7.46 and a beta of 1.82.

Rithm Capital (NYSE:RITM) last released its quarterly earnings data on Wednesday, July 31st. The real estate investment trust reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.05. Rithm Capital had a net margin of 15.55% and a return on equity of 18.20%. The firm had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the previous year, the company posted $0.62 earnings per share. The firm’s revenue was up 18.4% on a year-over-year basis. As a group, equities analysts expect that Rithm Capital Corp. will post 1.78 earnings per share for the current year.

Rithm Capital Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 26th. Shareholders of record on Monday, July 1st were issued a $0.25 dividend. The ex-dividend date of this dividend was Monday, July 1st. This represents a $1.00 dividend on an annualized basis and a yield of 8.95%. Rithm Capital’s dividend payout ratio is currently 66.67%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Piper Sandler upped their price objective on shares of Rithm Capital from $10.50 to $12.50 and gave the company a “neutral” rating in a research note on Tuesday, May 14th. B. Riley restated a “buy” rating and issued a $14.00 target price (up from $13.00) on shares of Rithm Capital in a report on Friday, May 10th. Wedbush reaffirmed an “outperform” rating and set a $13.00 price target on shares of Rithm Capital in a research note on Thursday, May 9th. JMP Securities boosted their price objective on shares of Rithm Capital from $11.00 to $12.50 and gave the company a “market outperform” rating in a research note on Friday, July 19th. Finally, Keefe, Bruyette & Woods raised their price target on shares of Rithm Capital from $12.00 to $12.50 and gave the company an “outperform” rating in a report on Thursday, May 2nd. One investment analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Rithm Capital has an average rating of “Moderate Buy” and a consensus target price of $12.45.

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.