Larson Financial Group LLC Raises Stock Position in Rithm Capital Corp. (NYSE:RITM)

Larson Financial Group LLC grew its holdings in shares of Rithm Capital Corp. (NYSE:RITM) by 8.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 138,282 shares of the real estate investment trust’s stock after buying an additional 11,213 shares during the quarter. Larson Financial Group LLC’s holdings in Rithm Capital were worth $1,509,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in RITM. American National Bank bought a new position in Rithm Capital during the 4th quarter valued at about $27,000. Bessemer Group Inc. bought a new stake in shares of Rithm Capital during the 1st quarter worth approximately $30,000. Raleigh Capital Management Inc. boosted its holdings in Rithm Capital by 125.4% during the 4th quarter. Raleigh Capital Management Inc. now owns 2,986 shares of the real estate investment trust’s stock valued at $32,000 after acquiring an additional 1,661 shares during the period. Altshuler Shaham Ltd bought a new position in Rithm Capital in the 4th quarter valued at $43,000. Finally, Abich Financial Wealth Management LLC increased its stake in Rithm Capital by 56.8% in the first quarter. Abich Financial Wealth Management LLC now owns 4,031 shares of the real estate investment trust’s stock worth $45,000 after purchasing an additional 1,461 shares during the period. Institutional investors own 44.92% of the company’s stock.

Rithm Capital Stock Down 1.1 %

Shares of NYSE RITM opened at $11.61 on Thursday. 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 $5.61 billion, a PE ratio of 7.74 and a beta of 1.82. Rithm Capital Corp. has a 12-month low of $8.87 and a 12-month high of $11.94. The stock’s fifty day simple moving average is $11.27 and its two-hundred day simple moving average is $11.11.

Rithm Capital (NYSE:RITM) last announced its earnings results on Wednesday, July 31st. The real estate investment trust reported $0.47 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.05. Rithm Capital had a net margin of 15.55% and a return on equity of 18.04%. The business had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same period in the previous year, the company posted $0.62 earnings per share. The firm’s revenue was up 18.4% on a year-over-year basis. As a group, analysts expect that Rithm Capital Corp. will post 1.82 EPS for the current fiscal year.

Rithm Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 26th. Investors of record on Monday, July 1st were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, July 1st. This represents a $1.00 annualized dividend and a yield of 8.61%. Rithm Capital’s dividend payout ratio (DPR) is 66.67%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Royal Bank of Canada restated an “outperform” rating and issued a $13.00 price target on shares of Rithm Capital in a report on Tuesday, August 13th. B. Riley restated a “buy” rating and issued a $14.00 target price (up from $13.00) on shares of Rithm Capital in a research note on Friday, May 10th. JMP Securities lifted their price target on shares of Rithm Capital from $11.00 to $12.50 and gave the company a “market outperform” rating in a research note on Friday, July 19th. Piper Sandler increased their price objective on Rithm Capital from $10.50 to $12.50 and gave the stock a “neutral” rating in a research note on Tuesday, May 14th. Finally, Wedbush reaffirmed an “outperform” rating and set a $13.00 target price 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 issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $12.60.

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.