HFG Advisors Inc. Acquires Shares of 10,000 Rithm Capital Corp. (NYSE:RITM)

HFG Advisors Inc. acquired a new stake in shares of Rithm Capital Corp. (NYSE:RITM) in the second quarter, HoldingsChannel reports. The fund acquired 10,000 shares of the real estate investment trust’s stock, valued at approximately $109,000.

A number of other hedge funds have also recently bought and sold shares of the business. Parkside Financial Bank & Trust lifted its holdings in Rithm Capital by 605.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 2,489 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 2,136 shares during the last quarter. American National Bank bought a new stake in shares of Rithm Capital in the 4th quarter worth approximately $27,000. Bessemer Group Inc. bought a new stake in shares of Rithm Capital in the 1st quarter worth approximately $30,000. Raleigh Capital Management Inc. lifted its holdings in shares of Rithm Capital by 125.4% in the 4th quarter. Raleigh Capital Management Inc. now owns 2,986 shares of the real estate investment trust’s stock worth $32,000 after purchasing an additional 1,661 shares during the last quarter. Finally, GAMMA Investing LLC bought a new stake in Rithm Capital during the 4th quarter valued at $34,000. Institutional investors and hedge funds own 44.92% of the company’s stock.

Rithm Capital Price Performance

Shares of RITM stock traded up $0.06 during trading hours on Friday, hitting $11.16. The company had a trading volume of 1,906,907 shares, compared to its average volume of 3,298,094. The firm has a market capitalization of $5.40 billion, a price-to-earnings ratio of 7.44 and a beta of 1.82. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.29 and a current ratio of 0.29. Rithm Capital Corp. has a 12 month low of $8.87 and a 12 month high of $11.85. The firm’s fifty day moving average is $11.12 and its 200 day moving average is $10.99.

Rithm Capital (NYSE:RITM) last posted its quarterly earnings data on Wednesday, July 31st. The real estate investment trust reported $0.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.05. Rithm Capital had a return on equity of 18.20% and a net margin of 15.55%. The firm had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the prior year, the business earned $0.62 EPS. The business’s revenue for the quarter was up 18.4% compared to the same quarter last year. On average, sell-side analysts predict that Rithm Capital Corp. will post 1.78 EPS for the current fiscal year.

Rithm Capital Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 26th. Shareholders of record on Monday, July 1st were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 8.96%. The ex-dividend date was Monday, July 1st. Rithm Capital’s dividend payout ratio (DPR) is presently 66.67%.

Analyst Ratings Changes

RITM has been the topic of several research analyst reports. JMP Securities lifted their price target on Rithm Capital from $11.00 to $12.50 and gave the company a “market outperform” rating in a research report on Friday, July 19th. Keefe, Bruyette & Woods lifted their price target on Rithm Capital from $12.00 to $12.50 and gave the company an “outperform” rating in a report on Thursday, May 2nd. Piper Sandler lifted their price objective on Rithm Capital from $10.50 to $12.50 and gave the company a “neutral” rating in a research report on Tuesday, May 14th. B. Riley reissued a “buy” rating and set a $14.00 price objective (up previously from $13.00) on shares of Rithm Capital in a research report on Friday, May 10th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $13.00 price target on shares of Rithm Capital in a research report on Thursday, May 9th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Rithm Capital has an average rating of “Moderate Buy” and an average price target of $12.45.

Rithm Capital Company 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.