Hsbc Holdings PLC Takes $1.02 Million Position in Rithm Capital Corp. (NYSE:RITM)

Hsbc Holdings PLC purchased a new stake in Rithm Capital Corp. (NYSE:RITM) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor purchased 94,509 shares of the real estate investment trust’s stock, valued at approximately $1,022,000.

Several other large investors have also recently added to or reduced their stakes in RITM. Waterloo Capital L.P. grew its stake in shares of Rithm Capital by 2.0% in the second quarter. Waterloo Capital L.P. now owns 380,744 shares of the real estate investment trust’s stock valued at $4,154,000 after buying an additional 7,345 shares in the last quarter. Vanguard Personalized Indexing Management LLC boosted its holdings in Rithm Capital by 11.8% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 60,643 shares of the real estate investment trust’s stock worth $661,000 after acquiring an additional 6,393 shares during the period. Perennial Investment Advisors LLC acquired a new stake in Rithm Capital in the second quarter valued at approximately $111,000. Edgestream Partners L.P. raised its stake in shares of Rithm Capital by 14.1% during the second quarter. Edgestream Partners L.P. now owns 465,232 shares of the real estate investment trust’s stock valued at $5,076,000 after purchasing an additional 57,345 shares during the period. Finally, Moors & Cabot Inc. lifted its position in shares of Rithm Capital by 13.4% during the second quarter. Moors & Cabot Inc. now owns 78,031 shares of the real estate investment trust’s stock worth $851,000 after purchasing an additional 9,231 shares in the last quarter. 44.92% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on RITM shares. JMP Securities lifted their price target 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. Wedbush reaffirmed an “outperform” rating and set a $13.00 target price on shares of Rithm Capital in a research report on Friday, August 16th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $13.00 price target on shares of Rithm Capital in a report on Tuesday, August 13th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $12.60.

Rithm Capital Trading Up 0.5 %

Shares of NYSE RITM opened at $11.32 on Friday. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 1.81. The stock’s 50 day moving average price is $11.49 and its two-hundred day moving average price is $11.21. Rithm Capital Corp. has a 52-week low of $8.87 and a 52-week high of $12.02. The stock has a market capitalization of $5.47 billion, a P/E ratio of 7.55 and a beta of 1.80.

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

Rithm Capital Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Tuesday, October 1st will be paid a $0.25 dividend. The ex-dividend date is Tuesday, October 1st. This represents a $1.00 dividend on an annualized basis and a yield of 8.83%. Rithm Capital’s payout ratio is currently 66.67%.

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.