Squarepoint Ops LLC Invests $774,000 in Rithm Capital Corp. (NYSE:RITM)

Squarepoint Ops LLC purchased a new stake in shares of Rithm Capital Corp. (NYSE:RITM - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 70,932 shares of the real estate investment trust's stock, valued at approximately $774,000.

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

Rithm Capital Trading Up 0.8 %

Shares of RITM traded up $0.08 during mid-day trading on Tuesday, reaching $10.66. 4,919,723 shares of the company were exchanged, compared to its average volume of 3,429,540. The business has a 50 day simple moving average of $11.41 and a two-hundred day simple moving average of $11.20. The company has a debt-to-equity ratio of 1.81, a quick ratio of 0.49 and a current ratio of 0.49. The stock has a market capitalization of $5.15 billion, a PE ratio of 7.11 and a beta of 1.80. Rithm Capital Corp. has a 52 week low of $8.87 and a 52 week high of $12.02.

Rithm Capital (NYSE:RITM - Get Free Report) last announced its earnings results on Wednesday, July 31st. The real estate investment trust reported $0.47 earnings per share 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 18.04%. The business had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter last year, the firm earned $0.62 earnings per share. Rithm Capital's quarterly revenue was up 18.4% on a year-over-year basis. On average, analysts predict that Rithm Capital Corp. will post 1.82 earnings per share for the current fiscal year.

Rithm Capital Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Tuesday, October 1st will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 9.38%. The ex-dividend date of this dividend is Tuesday, October 1st. Rithm Capital's dividend payout ratio is presently 66.67%.

Analysts Set New Price Targets

A number of equities analysts have commented on the company. Royal Bank of Canada restated an "outperform" rating and set a $13.00 price objective on shares of Rithm Capital in a research note on Tuesday, August 13th. Wedbush reaffirmed an "outperform" rating and issued a $13.00 price target on shares of Rithm Capital in a research note on Friday, August 16th. Finally, JMP Securities upped their price objective on shares of Rithm Capital from $11.00 to $12.50 and gave the stock a "market outperform" rating in a research report on Friday, July 19th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat.com, Rithm Capital presently has a consensus rating of "Moderate Buy" and an average price target of $12.67.

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.