Intech Investment Management LLC Has $373,000 Stock Position in Rithm Capital Corp. (NYSE:RITM)

Intech Investment Management LLC lessened its position in Rithm Capital Corp. (NYSE:RITM) by 32.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 34,179 shares of the real estate investment trust’s stock after selling 16,631 shares during the quarter. Intech Investment Management LLC’s holdings in Rithm Capital were worth $373,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. Long Pond Capital LP bought a new position in shares of Rithm Capital in the first quarter worth about $53,025,000. MGO One Seven LLC lifted its holdings in shares of 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 buying an additional 751,895 shares during the last quarter. Allianz Asset Management GmbH boosted its position in shares of Rithm Capital by 107.7% in the fourth 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 acquiring an additional 607,413 shares during the period. Vanguard Group Inc. grew its stake in shares of 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 acquiring an additional 378,931 shares during the last quarter. Finally, Cibc World Markets Corp increased its position in Rithm Capital by 69.1% during the fourth quarter. Cibc World Markets Corp now owns 872,758 shares of the real estate investment trust’s stock worth $9,321,000 after acquiring an additional 356,758 shares during the period. Institutional investors and hedge funds own 44.92% of the company’s stock.

Rithm Capital Stock Up 0.5 %

RITM opened at $11.32 on Friday. The firm has a market cap of $5.47 billion, a price-to-earnings ratio of 7.55 and a beta of 1.80. 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 firm’s 50-day simple moving average is $11.49 and its 200-day simple moving average is $11.21. Rithm Capital Corp. has a twelve month low of $8.87 and a twelve month high of $12.02.

Rithm Capital (NYSE:RITM) last posted its quarterly earnings data on Wednesday, July 31st. The real estate investment trust reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.05. The company had revenue of $1.23 billion during the quarter, compared to analyst estimates of $1.15 billion. Rithm Capital had a net margin of 15.55% and a return on equity of 18.04%. The company’s revenue was up 18.4% on a year-over-year basis. During the same quarter last year, the business posted $0.62 earnings per share. Equities research analysts anticipate that Rithm Capital Corp. will post 1.82 EPS 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. Stockholders of record on Tuesday, October 1st will be paid a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.83%. Rithm Capital’s dividend payout ratio (DPR) is presently 66.67%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on RITM. JMP Securities increased their price target on shares of Rithm Capital from $11.00 to $12.50 and gave the company a “market outperform” rating in a report on Friday, July 19th. Wedbush reiterated an “outperform” rating and issued a $13.00 target price on shares of Rithm Capital in a research note on Friday, August 16th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $13.00 price target on shares of Rithm Capital in a research note on Tuesday, August 13th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $12.60.

About Rithm Capital

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.