QRG Capital Management Inc. Buys 4,774 Shares of Rithm Capital Corp. (NYSE:RITM)

QRG Capital Management Inc. lifted its position in Rithm Capital Corp. (NYSE:RITM) by 2.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 218,756 shares of the real estate investment trust’s stock after buying an additional 4,774 shares during the quarter. QRG Capital Management Inc.’s holdings in Rithm Capital were worth $2,483,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in RITM. AQR Capital Management LLC lifted its holdings in 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 last quarter. 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 worth $556,000 after buying an additional 1,286 shares during the last quarter. Abich Financial Wealth Management LLC boosted its holdings in shares of Rithm Capital by 56.8% during 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. Atomi Financial Group Inc. grew its stake in Rithm Capital by 6.4% in the 3rd quarter. Atomi Financial Group Inc. now owns 24,711 shares of the real estate investment trust’s stock valued at $280,000 after buying an additional 1,481 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its holdings 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 valued at $27,000 after acquiring an additional 1,525 shares during the period. 44.92% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on RITM shares. 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 report on Friday, July 19th. Wedbush reaffirmed an “outperform” rating and issued a $13.00 price objective on shares of Rithm Capital in a report on Friday, August 16th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $13.00 target price on shares of Rithm Capital in a report on Tuesday, August 13th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $12.67.

Rithm Capital Price Performance

Shares of NYSE:RITM opened at $10.56 on Thursday. The firm has a 50 day moving average of $11.13 and a 200-day moving average of $11.17. Rithm Capital Corp. has a 12 month low of $9.68 and a 12 month high of $12.02. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 1.81. The stock has a market capitalization of $5.10 billion, a PE ratio of 10.66 and a beta of 1.80.

Rithm Capital (NYSE:RITM) last released its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.12. Rithm Capital had a return on equity of 17.91% and a net margin of 14.99%. The firm had revenue of $619.51 million during the quarter, compared to analysts’ expectations of $1.11 billion. During the same period in the prior year, the company earned $0.58 earnings per share. On average, equities research analysts predict that Rithm Capital Corp. will post 1.85 EPS for the current fiscal year.

Rithm Capital Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Tuesday, October 1st were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 9.47%. The ex-dividend date was Tuesday, October 1st. Rithm Capital’s dividend payout ratio is presently 101.01%.

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.