Mackenzie Financial Corp Increases Stock Position in Rithm Capital Corp. (NYSE:RITM)

Mackenzie Financial Corp grew its holdings in Rithm Capital Corp. (NYSE:RITM - Free Report) by 15.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,319,014 shares of the real estate investment trust's stock after purchasing an additional 176,711 shares during the period. Mackenzie Financial Corp owned about 0.27% of Rithm Capital worth $14,390,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bessemer Group Inc. bought a new position in Rithm Capital during the 1st quarter valued at about $30,000. Raleigh Capital Management Inc. lifted its position in shares of Rithm Capital by 125.4% during the 4th quarter. Raleigh Capital Management Inc. now owns 2,986 shares of the real estate investment trust's stock valued at $32,000 after buying an additional 1,661 shares in the last quarter. Abich Financial Wealth Management LLC grew its stake in shares of Rithm Capital by 56.8% during the 1st quarter. Abich Financial Wealth Management LLC now owns 4,031 shares of the real estate investment trust's stock valued at $45,000 after acquiring an additional 1,461 shares during the period. Fidelis Capital Partners LLC purchased a new stake in Rithm Capital in the 1st quarter worth approximately $62,000. Finally, Future Financial Wealth Managment LLC purchased a new position in Rithm Capital during the first quarter valued at approximately $71,000. 44.92% of the stock is owned by institutional investors.

Rithm Capital Trading Down 0.2 %

Shares of NYSE RITM traded down $0.02 during trading hours on Monday, hitting $11.30. 3,290,377 shares of the company traded hands, compared to its average volume of 3,338,873. Rithm Capital Corp. has a 12 month low of $8.87 and a 12 month high of $12.02. The stock has a market capitalization of $5.46 billion, a price-to-earnings ratio of 7.49 and a beta of 1.80. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 1.81. The company's 50 day moving average price is $11.49 and its 200 day moving average price is $11.21.

Rithm Capital (NYSE:RITM - Get Free Report) last posted its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.05. Rithm Capital had a net margin of 15.55% and a return on equity of 18.04%. 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 firm posted $0.62 earnings per share. The company's revenue was up 18.4% on a year-over-year basis. On average, equities research analysts anticipate that Rithm Capital Corp. will post 1.82 earnings per share for the current fiscal year.

Rithm Capital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Tuesday, October 1st will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 8.85%. The ex-dividend date of this dividend is Tuesday, October 1st. Rithm Capital's payout ratio is 66.67%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on RITM. Wedbush reissued an "outperform" rating and issued a $13.00 price objective on shares of Rithm Capital in a research note on Friday, August 16th. JMP Securities increased their target price on Rithm Capital from $11.00 to $12.50 and gave the stock a "market outperform" rating in a research report on Friday, July 19th. Finally, Royal Bank of Canada reissued an "outperform" rating and set a $13.00 price objective on shares of Rithm Capital in a report on Tuesday, August 13th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $12.60.

Rithm Capital 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.