Teacher Retirement System of Texas raised its position in shares of Rithm Capital Corporation (NYSE:RITM – Get Rating) by 7.1% during the 1st quarter, according to its latest filing with the Securities and Exchange Commission. The institutional investor held 96,473 shares of the real estate investment trust after purchasing an additional 6,401 shares during the quarter. Teacher Retirement System of Texas’ holdings in Rithm Capital were worth $1,059,000 when it last filed with the Securities and Exchange Commission.
Several other institutional investors have also recently changed their stake in the company. Allspring Global Investments Holdings LLC purchased a new stock position from Rithm Capital during Q4 for a value of approximately $325,000. Yousif Capital Management LLC bought a new position in Rithm Capital in Q4 worth $220,000. CWM LLC bought a new position in Rithm Capital in Q4 worth $59,000. Advisor Group Holdings Inc. increased its position in Rithm Capital by 15.6% in the fourth quarter. Advisor Group Holdings Inc. now owns 340,403 shares of the real estate investment trust worth $3,655,000 after purchasing an additional 46,036 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. increased its position in Rithm Capital by 7.5% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 296,445 shares of the real estate investment trust worth $3,175,000 after buying an additional 20,709 shares in the last quarter. Institutional investors and hedge funds own 46.48% of the company’s shares.
Rithm share capital down 2.3%
Rithm Capital shares opened at $10.07 on Thursday. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt ratio of 0.09. Rithm Capital Corporation has a 12-month low of $8.18 and a 12-month high of $11.81. The company has a fifty-day simple moving average of $9.84 and a 200-day simple moving average of $10.39. The stock has a market capitalization of $4.70 billion, a PE ratio of 5.06 and a beta of 1.68.
Rithm Capital (NYSE:RITM – Get Rating) last reported quarterly earnings data on Tuesday, August 2. The real estate investment trust reported EPS of $0.31 for the quarter, beating analyst consensus estimates of $0.29 by $0.02. Rithm Capital had a return on equity of 13.69% and a net margin of 20.51%. In the same quarter a year earlier, the company earned earnings per share of $0.31. Research analysts predict that Rithm Capital Corporation will post 1.27 EPS for the current year.
Rithm Capital Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, July 29. Shareholders of record on Friday, July 1 received a dividend of $0.25. The ex-dividend date was Thursday, June 30. This represents a dividend of $1.00 on an annualized basis and a yield of 9.93%. Rithm Capital’s payout ratio is 50.25%.
Changes to analyst ratings
Several brokerages have published reports on the RITM. StockNews.com upgraded Rithm Capital from a “hold” rating to a “buy” rating in a Monday, May 9 research report. Piper Sandler downgraded Rithm Capital from a “neutral” rating to an “underweight” rating and lowered its target price for the stock from $12.00 to $10.00 in a Monday, June 13 research report . Raymond James lowered its target price on Rithm Capital from $13.00 to $12.50 and set an “outperform” rating for the company in a research report on Wednesday. Finally, Credit Suisse Group lowered its price target on Rithm Capital to $12.00 in a Friday, July 22 research report. One analyst rated the stock with a sell rating and seven rated the company with a buy rating. According to data from MarketBeat.com, Rithm Capital has a consensus rating of “Moderate Buy” and an average target price of $11.80.
Rithm Capital Company Profile
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New Residential Investment Corp. is a real estate investment trust that aims to generate long-term value for investors by investing in mortgage-related assets, including operating companies, that offer attractive risk-adjusted returns. It operates through the following segments: Origination, Servicing, MSR Related Investments, Residential Securities, Properties and Loans, Consumer Loans, Mortgage Loans Receivables and Corporate.
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