10,365 Shares in Rithm Capital Corp. (NYSE:RITM) Purchased by Bay Colony Advisory Group Inc d b a Bay Colony Advisors

Bay Colony Advisory Group Inc d b a Bay Colony Advisors purchased a new stake in shares of Rithm Capital Corp. (NYSE:RITM) in the 3rd quarter, Holdings Channel reports. The fund purchased 10,365 shares of the real estate investment trust’s stock, valued at approximately $118,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Rithm Capital by 0.8% in 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 purchasing an additional 378,931 shares during the last quarter. Long Pond Capital LP acquired a new stake in shares of Rithm Capital in the first quarter valued at $53,025,000. BlueCrest Capital Management Ltd raised its holdings in shares of Rithm Capital by 1.0% in the first quarter. BlueCrest Capital Management Ltd now owns 2,134,661 shares of the real estate investment trust’s stock valued at $23,823,000 after buying an additional 21,424 shares during the last quarter. Van ECK Associates Corp lifted its position in Rithm Capital by 9.4% during the 1st quarter. Van ECK Associates Corp now owns 2,023,375 shares of the real estate investment trust’s stock worth $22,581,000 after buying an additional 174,523 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in Rithm Capital by 10.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,753,224 shares of the real estate investment trust’s stock worth $19,128,000 after acquiring an additional 158,857 shares during the last quarter. 44.92% of the stock is currently owned by institutional investors and hedge funds.

Rithm Capital Stock Up 2.2 %

Shares of RITM opened at $10.70 on Wednesday. The firm has a market capitalization of $5.17 billion, a price-to-earnings ratio of 8.99 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 business’s fifty day moving average price is $11.26 and its two-hundred day moving average price is $11.17. Rithm Capital Corp. has a 52 week low of $9.13 and a 52 week high of $12.02.

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 for the quarter, beating analysts’ consensus estimates of $0.42 by $0.05. The company had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.15 billion. Rithm Capital had a return on equity of 18.04% and a net margin of 15.55%. The firm’s quarterly revenue was up 18.4% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.62 EPS. On average, analysts predict that Rithm Capital Corp. will post 1.81 earnings per share for the current year.

Rithm Capital Dividend Announcement

The business also recently declared 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. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.35%. The ex-dividend date is Tuesday, October 1st. Rithm Capital’s dividend payout ratio (DPR) is currently 84.03%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on RITM. Royal Bank of Canada reiterated an “outperform” rating and set a $13.00 target price on shares of Rithm Capital in a research report on Tuesday, August 13th. JMP Securities upped their price objective on Rithm Capital from $11.00 to $12.50 and gave the stock a “market outperform” rating in a report on Friday, July 19th. Finally, Wedbush reiterated an “outperform” rating and issued a $13.00 price objective on shares of Rithm Capital in a research report on Friday, August 16th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus 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.