Victory Capital Management Inc. Buys 19,596 Shares of Rithm Capital Corp. (NYSE:RITM)

Victory Capital Management Inc. boosted its holdings in shares of Rithm Capital Corp. (NYSE:RITM) by 10.9% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 199,333 shares of the real estate investment trust’s stock after acquiring an additional 19,596 shares during the period. Victory Capital Management Inc.’s holdings in Rithm Capital were worth $2,262,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in RITM. Seven Grand Managers LLC purchased a new stake in Rithm Capital during the third quarter worth about $11,918,000. SG Americas Securities LLC bought a new stake in shares of Rithm Capital during the third quarter valued at about $4,112,000. Van ECK Associates Corp boosted its stake in Rithm Capital by 20.7% during the third quarter. Van ECK Associates Corp now owns 2,004,057 shares of the real estate investment trust’s stock valued at $21,163,000 after buying an additional 343,678 shares during the period. CANADA LIFE ASSURANCE Co raised its stake in Rithm Capital by 261.1% in the first quarter. CANADA LIFE ASSURANCE Co now owns 360,217 shares of the real estate investment trust’s stock valued at $4,022,000 after purchasing an additional 260,454 shares in the last quarter. Finally, Sei Investments Co. raised its holdings in shares of Rithm Capital by 61.2% during the 2nd quarter. Sei Investments Co. now owns 637,446 shares of the real estate investment trust’s stock valued at $6,955,000 after buying an additional 242,062 shares in the last quarter. 44.92% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $13.00 price target on shares of Rithm Capital in a research report on Thursday. Wedbush reaffirmed an “outperform” rating and set a $14.00 price target on shares of Rithm Capital in a report on Thursday, November 7th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $12.78.

Rithm Capital Stock Up 1.8 %

Shares of NYSE RITM opened at $10.98 on Monday. The company has a market capitalization of $5.71 billion, a P/E ratio of 11.09 and a beta of 1.80. Rithm Capital Corp. has a 1 year low of $9.97 and a 1 year high of $12.02. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.35 and a quick ratio of 1.35. The company has a 50 day simple moving average of $10.90 and a 200-day simple moving average of $11.13.

Rithm Capital (NYSE:RITM) last issued its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.12. Rithm Capital had a return on equity of 17.54% and a net margin of 14.99%. The business had revenue of $619.51 million during the quarter, compared to analysts’ expectations of $1.11 billion. During the same period in the previous year, the firm posted $0.58 earnings per share. On average, equities research analysts predict that Rithm Capital Corp. will post 1.89 earnings per share for the current year.

Rithm Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Tuesday, October 1st were paid a dividend of $0.25 per share. The ex-dividend date was Tuesday, October 1st. This represents a $1.00 annualized dividend and a dividend yield of 9.11%. Rithm Capital’s dividend payout ratio (DPR) is 101.01%.

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.