Rithm Capital Corp. (NYSE:RITM) Stake Boosted by AQR Capital Management LLC

AQR Capital Management LLC grew its stake in shares of Rithm Capital Corp. (NYSE:RITM) by 4.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 29,848 shares of the real estate investment trust’s stock after purchasing an additional 1,183 shares during the quarter. AQR Capital Management LLC’s holdings in Rithm Capital were worth $326,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Natixis bought a new position in shares of Rithm Capital during the first quarter valued at approximately $689,000. Vanguard Group Inc. boosted its position in shares of 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 worth $511,305,000 after buying an additional 378,931 shares during the period. Squarepoint Ops LLC acquired a new position in shares of Rithm Capital during the second quarter worth approximately $774,000. Cetera Investment Advisers boosted its position in shares of Rithm Capital by 460.3% during the first quarter. Cetera Investment Advisers now owns 265,611 shares of the real estate investment trust’s stock worth $2,964,000 after buying an additional 218,206 shares during the period. Finally, Prevail Innovative Wealth Advisors LLC acquired a new position in shares of Rithm Capital during the first quarter worth approximately $2,433,000. 44.92% of the stock is owned by institutional investors.

Rithm Capital Stock Performance

RITM opened at $10.89 on Thursday. The company has a market capitalization of $5.27 billion, a price-to-earnings ratio of 7.26 and a beta of 1.80. 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 business has a 50 day moving average price of $11.36 and a two-hundred day moving average price of $11.19.

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

Rithm Capital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Tuesday, October 1st will be issued a $0.25 dividend. The ex-dividend date is Tuesday, October 1st. This represents a $1.00 annualized dividend and a dividend yield of 9.18%. Rithm Capital’s dividend payout ratio is currently 66.67%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. JMP Securities boosted their price objective on Rithm Capital from $11.00 to $12.50 and gave the stock a “market outperform” rating in a research report on Friday, July 19th. Royal Bank of Canada reiterated an “outperform” rating and set a $13.00 price objective on shares of Rithm Capital in a research report on Tuesday, August 13th. Finally, Wedbush reiterated an “outperform” rating and set a $13.00 price objective on shares of Rithm Capital in a research report on Friday, August 16th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus 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.