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Vanguard Personalized Indexing Management LLC trimmed its position in Rithm Capital Corp. (NYSE:RITM – Free Report) by 15.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 68,100 shares of the real estate investment trust’s stock after selling 12,346 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in Rithm Capital were worth $769,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. SouthState Corp purchased a new stake in shares of Rithm Capital in the 1st quarter worth $25,000. Fourth Dimension Wealth LLC lifted its stake in shares of Rithm Capital by 50.0% during the 1st quarter. Fourth Dimension Wealth LLC now owns 3,000 shares of the real estate investment trust’s stock worth $34,000 after purchasing an additional 1,000 shares during the last quarter. Ameritas Advisory Services LLC purchased a new stake in shares of Rithm Capital during the 2nd quarter worth $43,000. SVB Wealth LLC purchased a new stake in shares of Rithm Capital during the 1st quarter worth $57,000. Finally, GAMMA Investing LLC lifted its stake 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 worth $62,000 after purchasing an additional 887 shares during the last quarter. 44.92% of the stock is currently owned by hedge funds and other institutional investors.
Rithm Capital Stock Up 0.9%
Shares of RITM stock opened at $10.93 on Tuesday. The stock’s 50-day simple moving average is $11.86 and its 200-day simple moving average is $11.49. 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 firm has a market capitalization of $5.79 billion, a PE ratio of 8.40 and a beta of 1.31. Rithm Capital Corp. has a fifty-two week low of $9.13 and a fifty-two week high of $12.74.
Rithm Capital (NYSE:RITM – Get Free Report) last announced its quarterly earnings data on Monday, July 28th. The real estate investment trust reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.03. The business had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.18 billion. Rithm Capital had a return on equity of 18.89% and a net margin of 16.72%. 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 declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Wednesday, October 1st will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 9.2%. The ex-dividend date is Wednesday, October 1st. Rithm Capital’s dividend payout ratio (DPR) is currently 76.92%.
Wall Street Analysts Forecast Growth
RITM has been the subject of a number of analyst reports. Royal Bank Of Canada upped their price objective on Rithm Capital from $13.00 to $14.00 and gave the stock an “outperform” rating in a research note on Friday, August 1st. UBS Group upped their price objective on Rithm Capital from $14.00 to $16.00 and gave the stock a “buy” rating in a research note on Wednesday, September 3rd. Wedbush restated an “outperform” rating and set a $14.00 price objective on shares of Rithm Capital in a research note on Wednesday, August 6th. Keefe, Bruyette & Woods upped their price objective on Rithm Capital from $13.50 to $14.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 29th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Rithm Capital in a research note on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating and nine have assigned a Buy rating to the stock. According to MarketBeat.com, Rithm Capital presently has an average rating of “Buy” and an average price target of $14.25.
Get Our Latest Stock Analysis on RITM
About Rithm Capital
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.
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