Rithm Capital Corp. $RITM Shares Purchased by Chicago Partners Investment Group LLC

Chicago Partners Investment Group LLC raised its position in shares of Rithm Capital Corp. (NYSE:RITM) by 4.1% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 48,471 shares of the real estate investment trust’s stock after purchasing an additional 1,926 shares during the period. Chicago Partners Investment Group LLC’s holdings in Rithm Capital were worth $594,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. SouthState Corp bought a new stake in shares of Rithm Capital during the 1st quarter worth about $25,000. Fourth Dimension Wealth LLC raised its position 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 buying an additional 1,000 shares in the last quarter. Ameritas Advisory Services LLC bought a new stake in shares of Rithm Capital during the 2nd quarter worth about $43,000. SVB Wealth LLC bought a new stake in shares of Rithm Capital during the 1st quarter worth about $57,000. Finally, GAMMA Investing LLC raised its position 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 buying an additional 887 shares in the last quarter. 44.92% of the stock is owned by institutional investors and hedge funds.

Rithm Capital Trading Down 0.8%

Rithm Capital stock opened at $10.83 on Wednesday. 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 cap of $5.74 billion, a price-to-earnings ratio of 8.33 and a beta of 1.31. Rithm Capital Corp. has a 1 year low of $9.13 and a 1 year high of $12.74. The firm’s 50 day moving average price is $11.83 and its two-hundred day moving average price is $11.49.

Rithm Capital (NYSE:RITM) last posted its quarterly earnings results on Monday, July 28th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.03. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.18 billion. Rithm Capital had a net margin of 16.72% and a return on equity of 18.89%. On average, research analysts predict that Rithm Capital Corp. will post 1.93 EPS for the current fiscal 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 issued a dividend of $0.25 per share. 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 currently 76.92%.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Jones Trading boosted their price target on shares of Rithm Capital from $12.50 to $13.50 and gave the stock a “buy” rating in a research report on Tuesday, July 29th. Keefe, Bruyette & Woods boosted their price target 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. Wedbush restated an “outperform” rating and set a $14.00 price target on shares of Rithm Capital in a research report on Wednesday, August 6th. Weiss Ratings restated a “buy (b)” rating on shares of Rithm Capital in a research report on Wednesday, October 8th. Finally, BTIG Research reissued a “buy” rating and set a $16.00 target price on shares of Rithm Capital in a research note on Wednesday, September 17th. One analyst has rated the stock with a Strong Buy rating and nine have given a Buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus price target of $14.25.

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.