Bluefin Capital Management LLC Purchases Shares of 13,100 Rithm Capital Corp. (NYSE:RITM)

Bluefin Capital Management LLC acquired a new position in Rithm Capital Corp. (NYSE:RITM) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 13,100 shares of the real estate investment trust’s stock, valued at approximately $143,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Seelaus Asset Management LLC raised its stake in Rithm Capital by 2.7% during the 1st quarter. Seelaus Asset Management LLC now owns 36,471 shares of the real estate investment trust’s stock worth $407,000 after acquiring an additional 955 shares during the period. AQR Capital Management LLC raised its position in shares of Rithm Capital by 4.1% during the 2nd quarter. AQR Capital Management LLC now owns 29,848 shares of the real estate investment trust’s stock valued at $326,000 after purchasing an additional 1,183 shares during the period. Founders Financial Alliance LLC lifted its stake in shares of Rithm Capital by 2.6% during the 2nd quarter. Founders Financial Alliance LLC now owns 50,942 shares of the real estate investment trust’s stock valued at $556,000 after buying an additional 1,286 shares in the last quarter. Abich Financial Wealth Management LLC boosted its holdings in Rithm Capital by 56.8% in the 1st quarter. Abich Financial Wealth Management LLC now owns 4,031 shares of the real estate investment trust’s stock worth $45,000 after buying an additional 1,461 shares during the period. Finally, Northwestern Mutual Wealth Management Co. increased its stake in Rithm Capital by 154.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,513 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 1,525 shares in the last quarter. Hedge funds and other institutional investors own 44.92% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. Wedbush reaffirmed an “outperform” rating and issued a $13.00 price objective on shares of Rithm Capital in a research note on Friday, August 16th. JMP Securities increased their price objective 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. Finally, Royal Bank of Canada restated an “outperform” rating and set a $13.00 target price on shares of Rithm Capital in a research report 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’s stock. According to MarketBeat, Rithm Capital presently has an average rating of “Moderate Buy” and an average price target of $12.60.

Rithm Capital Stock Performance

RITM stock opened at $10.93 on Wednesday. The firm has a market cap of $5.28 billion, a price-to-earnings ratio of 7.29 and a beta of 1.80. Rithm Capital Corp. has a twelve month low of $8.87 and a twelve month high of $12.02. 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 business’s fifty day simple moving average is $11.48 and its two-hundred day simple moving average is $11.22.

Rithm Capital (NYSE:RITM) last announced its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported $0.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $1.15 billion. During the same quarter in the previous year, the business earned $0.62 earnings per share. Rithm Capital’s quarterly revenue was up 18.4% on a year-over-year basis. Analysts predict that Rithm Capital Corp. will post 1.82 earnings per share for the current 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 issued a dividend of $0.25 per share. The ex-dividend date is Tuesday, October 1st. This represents a $1.00 dividend on an annualized basis and a yield of 9.15%. Rithm Capital’s dividend 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.