Alpha DNA Investment Management LLC Takes Position in Rithm Capital Corp. (NYSE:RITM)

Alpha DNA Investment Management LLC bought a new position in shares of Rithm Capital Corp. (NYSE:RITM) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 30,518 shares of the real estate investment trust’s stock, valued at approximately $333,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Long Pond Capital LP purchased a new position in shares of Rithm Capital during the 1st quarter worth about $53,025,000. MGO One Seven LLC raised its stake in Rithm Capital by 4,525.1% during the fourth quarter. MGO One Seven LLC now owns 768,511 shares of the real estate investment trust’s stock worth $8,208,000 after purchasing an additional 751,895 shares during the period. Allianz Asset Management GmbH boosted its holdings in shares of Rithm Capital by 107.7% in the 4th quarter. Allianz Asset Management GmbH now owns 1,171,379 shares of the real estate investment trust’s stock valued at $12,510,000 after purchasing an additional 607,413 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Rithm Capital by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 45,815,852 shares of the real estate investment trust’s stock valued at $511,305,000 after buying an additional 378,931 shares during the period. Finally, Cibc World Markets Corp increased its holdings in shares of Rithm Capital by 69.1% during the 4th quarter. Cibc World Markets Corp now owns 872,758 shares of the real estate investment trust’s stock worth $9,321,000 after buying an additional 356,758 shares during the last quarter. 44.92% of the stock is owned by institutional investors and hedge funds.

Rithm Capital Price Performance

Shares of NYSE RITM opened at $11.22 on Thursday. The business has a 50 day moving average price of $11.50 and a two-hundred day moving average price of $11.21. Rithm Capital Corp. has a fifty-two week low of $8.87 and a fifty-two week high of $12.02. The firm has a market cap of $5.42 billion, a PE ratio of 7.48 and a beta of 1.80. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 1.81.

Rithm Capital (NYSE:RITM) last posted its quarterly earnings data on Wednesday, July 31st. The real estate investment trust reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.05. The firm had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.15 billion. Rithm Capital had a net margin of 15.55% and a return on equity of 18.04%. The firm’s revenue was up 18.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.62 EPS. Sell-side analysts expect that Rithm Capital Corp. will post 1.82 earnings per share for the current fiscal year.

Rithm Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Tuesday, October 1st will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 8.92%. The ex-dividend date of this dividend is Tuesday, October 1st. Rithm Capital’s dividend payout ratio is currently 66.67%.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on RITM shares. 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 reiterated an “outperform” rating and set a $13.00 target price on shares of Rithm Capital in a report on Tuesday, August 13th. Finally, JMP Securities boosted 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 note on Friday, July 19th. One equities research 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, Rithm Capital has an average rating of “Moderate Buy” and a consensus price target of $12.60.

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.