Point72 Asset Management L.P. Purchases Shares of 180,000 Rithm Capital Corp. (NYSE:RITM)

Point72 Asset Management L.P. acquired a new position in Rithm Capital Corp. (NYSE:RITM) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 180,000 shares of the real estate investment trust’s stock, valued at approximately $1,964,000.

Other hedge funds have also recently made changes to their positions in the company. Treasurer of the State of North Carolina lifted its holdings in Rithm Capital by 4.2% in the 4th quarter. Treasurer of the State of North Carolina now owns 220,466 shares of the real estate investment trust’s stock worth $2,355,000 after purchasing an additional 8,889 shares in the last quarter. Cibc World Markets Corp lifted its holdings in shares of Rithm Capital by 69.1% in the fourth quarter. Cibc World Markets Corp now owns 872,758 shares of the real estate investment trust’s stock worth $9,321,000 after buying an additional 356,758 shares in the last quarter. Waterloo Capital L.P. bought a new position in shares of Rithm Capital during the fourth quarter worth $3,262,000. MGO One Seven LLC grew its stake in Rithm Capital by 4,525.1% during the fourth quarter. MGO One Seven LLC now owns 768,511 shares of the real estate investment trust’s stock valued at $8,208,000 after acquiring an additional 751,895 shares in the last quarter. Finally, Left Brain Wealth Management LLC increased its holdings in Rithm Capital by 16.3% in the 4th quarter. Left Brain Wealth Management LLC now owns 11,950 shares of the real estate investment trust’s stock valued at $128,000 after acquiring an additional 1,675 shares during the last quarter. Institutional investors own 44.92% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on RITM shares. Wedbush restated an “outperform” rating and set a $13.00 price objective on shares of Rithm Capital in a research report on Friday, August 16th. Royal Bank of Canada restated an “outperform” rating and set a $13.00 price target on shares of Rithm Capital in a report on Tuesday, August 13th. Finally, 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. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $12.67.

Rithm Capital Price Performance

NYSE:RITM opened at $10.81 on Friday. The firm has a market capitalization of $5.23 billion, a price-to-earnings ratio of 7.21 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. The business has a 50 day simple moving average of $11.46 and a 200-day simple moving average of $11.21. Rithm Capital Corp. has a 1 year low of $8.87 and a 1 year high of $12.02.

Rithm Capital (NYSE:RITM) last issued its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported $0.47 earnings per share (EPS) for the quarter, topping 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 company had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same period last year, the company earned $0.62 earnings per share. Rithm Capital’s revenue was up 18.4% on a year-over-year basis. Equities analysts forecast that Rithm Capital Corp. will post 1.82 EPS for the current year.

Rithm Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Tuesday, October 1st will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 9.25%. The ex-dividend date of this dividend is Tuesday, October 1st. Rithm Capital’s dividend payout ratio (DPR) is currently 66.67%.

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.