International Assets Investment Management LLC Grows Holdings in Rithm Capital Corp. (NYSE:RITM)

International Assets Investment Management LLC raised its position in Rithm Capital Corp. (NYSE:RITM - Free Report) by 895.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 167,617 shares of the real estate investment trust's stock after acquiring an additional 150,782 shares during the quarter. International Assets Investment Management LLC's holdings in Rithm Capital were worth $1,902,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Long Pond Capital LP purchased a new position in Rithm Capital during the 1st quarter valued at $53,025,000. Seven Grand Managers LLC bought a new position in Rithm Capital in the third quarter worth about $11,918,000. Vanguard Group Inc. lifted its holdings in Rithm Capital by 0.8% in the first quarter. Vanguard Group Inc. now owns 45,815,852 shares of the real estate investment trust's stock worth $511,305,000 after buying an additional 378,931 shares during the period. SG Americas Securities LLC bought a new stake in Rithm Capital during the 3rd quarter valued at approximately $4,112,000. Finally, Sei Investments Co. grew its stake in Rithm Capital by 725.7% in the first quarter. Sei Investments Co. now owns 395,384 shares of the real estate investment trust's stock worth $4,412,000 after purchasing an additional 347,499 shares during the period. 44.92% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

Rithm Capital Stock Performance

Shares of Rithm Capital stock traded down $0.07 during trading on Monday, hitting $10.41. 5,079,589 shares of the company's stock traded hands, compared to its average volume of 3,521,862. Rithm Capital Corp. has a 1 year low of $9.68 and a 1 year high of $12.02. The business has a 50-day simple moving average of $11.20 and a 200-day simple moving average of $11.18. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.49 and a quick ratio of 0.49. The stock has a market capitalization of $5.03 billion, a P/E ratio of 10.54 and a beta of 1.80.

Rithm Capital (NYSE:RITM - Get Free Report) last announced its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.54 EPS for the quarter, topping analysts' consensus estimates of $0.42 by $0.12. Rithm Capital had a net margin of 14.99% and a return on equity of 17.91%. The firm had revenue of $619.51 million during the quarter, compared to analyst estimates of $1.11 billion. During the same period in the previous year, the business posted $0.58 earnings per share. As a group, analysts forecast that Rithm Capital Corp. will post 1.85 EPS for the current year.

Rithm Capital Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Tuesday, October 1st were paid a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.61%. Rithm Capital's dividend payout ratio (DPR) is currently 101.01%.

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.