Seven Grand Managers LLC Purchases New Holdings in Rithm Capital Corp. (NYSE:RITM)

Seven Grand Managers LLC acquired a new stake in Rithm Capital Corp. (NYSE:RITM - Free Report) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 1,050,000 shares of the real estate investment trust's stock, valued at approximately $11,918,000. Rithm Capital comprises about 2.7% of Seven Grand Managers LLC's investment portfolio, making the stock its 11th biggest position. Seven Grand Managers LLC owned approximately 0.22% of Rithm Capital as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. boosted its position in Rithm Capital by 0.8% during the first quarter. Vanguard Group Inc. now owns 45,815,852 shares of the real estate investment trust's stock valued at $511,305,000 after acquiring an additional 378,931 shares during the last quarter. Long Pond Capital LP bought a new stake in shares of Rithm Capital during the 1st quarter valued at about $53,025,000. BlueCrest Capital Management Ltd grew its stake in Rithm Capital by 1.0% during the first quarter. BlueCrest Capital Management Ltd now owns 2,134,661 shares of the real estate investment trust's stock worth $23,823,000 after purchasing an additional 21,424 shares during the period. Wellington Management Group LLP increased its holdings in Rithm Capital by 3.9% in the fourth quarter. Wellington Management Group LLP now owns 2,106,184 shares of the real estate investment trust's stock worth $22,494,000 after purchasing an additional 78,838 shares in the last quarter. Finally, Van ECK Associates Corp lifted its stake in Rithm Capital by 9.4% in the first quarter. Van ECK Associates Corp now owns 2,023,375 shares of the real estate investment trust's stock valued at $22,581,000 after buying an additional 174,523 shares during the period. 44.92% of the stock is currently owned by institutional investors and hedge funds.

Rithm Capital Stock Down 0.6 %

Shares of NYSE RITM traded down $0.07 during mid-day trading on Thursday, reaching $10.83. 3,179,308 shares of the company's stock traded hands, compared to its average volume of 3,454,401. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.49 and a quick ratio of 0.49. Rithm Capital Corp. has a 1-year low of $8.87 and a 1-year high of $12.02. The stock has a market cap of $5.24 billion, a P/E ratio of 7.26 and a beta of 1.80. The business has a 50-day simple moving average of $11.36 and a 200 day simple moving average of $11.19.

Rithm Capital (NYSE:RITM - Get Free Report) last released its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported $0.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.42 by $0.05. The business had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.15 billion. Rithm Capital had a return on equity of 18.04% and a net margin of 15.55%. The company's quarterly revenue was up 18.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.62 EPS. On average, analysts expect that Rithm Capital Corp. will post 1.82 EPS for the current fiscal year.

Rithm Capital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Tuesday, October 1st will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 9.23%. The ex-dividend date of this dividend is Tuesday, October 1st. Rithm Capital's payout ratio is currently 66.67%.

Wall Street Analysts Forecast Growth

RITM has been the subject of several research analyst reports. JMP Securities lifted their price objective on shares of Rithm Capital from $11.00 to $12.50 and gave the company a "market outperform" rating in a research note on Friday, July 19th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $13.00 price target on shares of Rithm Capital in a research note on Tuesday, August 13th. Finally, Wedbush reiterated an "outperform" rating and set a $13.00 price objective on shares of Rithm Capital in a report on Friday, August 16th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $12.67.

Rithm Capital Company 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.