Plato Investment Management Ltd Acquires Shares of 15,275 Rithm Capital Corp. (NYSE:RITM)

Plato Investment Management Ltd bought a new stake in Rithm Capital Corp. (NYSE:RITM) in the first quarter, HoldingsChannel.com reports. The fund bought 15,275 shares of the real estate investment trust’s stock, valued at approximately $170,000.

Other institutional investors also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Rithm Capital in the fourth quarter valued at about $63,896,000. Long Pond Capital LP purchased a new stake in Rithm Capital in the 1st quarter worth approximately $53,025,000. MGO One Seven LLC boosted its position in Rithm Capital by 4,525.1% in the 4th quarter. MGO One Seven LLC now owns 768,511 shares of the real estate investment trust’s stock worth $8,208,000 after purchasing an additional 751,895 shares in the last quarter. Allianz Asset Management GmbH lifted its position in shares of Rithm Capital by 107.7% during the 4th quarter. Allianz Asset Management GmbH now owns 1,171,379 shares of the real estate investment trust’s stock valued at $12,510,000 after buying an additional 607,413 shares in the last quarter. Finally, Van ECK Associates Corp lifted its holdings in Rithm Capital by 32.7% in the 4th quarter. Van ECK Associates Corp now owns 1,848,852 shares of the real estate investment trust’s stock valued at $19,746,000 after purchasing an additional 456,026 shares in the last quarter. 44.92% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

Rithm Capital Stock Performance

NYSE:RITM traded down $0.26 during trading hours on Thursday, reaching $11.35. 5,667,172 shares of the stock were exchanged, compared to its average volume of 3,289,866. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.20. The firm has a 50 day simple moving average of $11.12 and a 200-day simple moving average of $10.98. Rithm Capital Corp. has a 52 week low of $8.87 and a 52 week high of $11.85. The stock has a market capitalization of $5.49 billion, a P/E ratio of 7.59 and a beta of 1.82.

Rithm Capital (NYSE:RITM) last announced its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.05. The business had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.15 billion. Rithm Capital had a return on equity of 19.33% and a net margin of 19.77%. The business’s revenue was up 18.4% on a year-over-year basis. During the same quarter last year, the business posted $0.62 EPS. As a group, sell-side analysts forecast that Rithm Capital Corp. will post 1.76 earnings per share for the current fiscal year.

Rithm Capital Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 26th. Investors of record on Monday, July 1st were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 8.81%. The ex-dividend date of this dividend was Monday, July 1st. Rithm Capital’s dividend payout ratio is currently 66.67%.

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.