Highlander Capital Management LLC Increases Stock Holdings in Rithm Capital Corporation (NYSE:RITM)

Highlander Capital Management LLC boosted its stake in Rithm Capital Corporation (NYSE:RITM – Get Rating) by 12.6% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 20,050 shares of the real estate investment trust’s stock after buying an additional 2,250 shares during the quarter. Highlander Capital Management LLC’s holdings in Rithm Capital were worth $220,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of RITM. TCI Wealth Advisors Inc. lifted its position in shares of Rithm Capital by 311.1% during the first quarter. TCI Wealth Advisors Inc. now owns 2,454 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 1,857 shares in the last quarter. UMB Bank N A MO bought a new position in shares of Rithm Capital during the 4th quarter worth approximately $32,000. First Horizon Advisors Inc. boosted its stake in shares of Rithm Capital by 207.1% in the 4th quarter. First Horizon Advisors Inc. now owns 3,329 shares of the real estate investment trust’s stock worth $36,000 after buying an additional 2,245 shares during the last quarter. National Bank of Canada FI purchased a new stake in shares of Rithm Capital during the fourth quarter valued at approximately $42,000. Finally, Horan Securities Inc. purchased a new stake in shares of Rithm Capital during the fourth quarter valued at approximately $42,000. 46.48% of the stock is owned by hedge funds and other institutional investors.

Rithm Capital Trading Up 0.3 %

Shares of Rithm Capital stock opened at $9.90 on Friday. Rithm Capital Corporation has a 52-week low of $8.18 and a 52-week high of $11.81. The stock has a market capitalization of $4.62 billion, a P/E ratio of 4.97 and a beta of 1.68. The company has a debt-to-equity ratio of 0.09, a quick ratio of 0.44 and a current ratio of 0.44. The stock’s 50-day simple moving average is $10.04 and its 200 day simple moving average is $10.41.

Rithm Capital (NYSE:RITM – Get Rating) last released its quarterly earnings data on Tuesday, August 2nd. The real estate investment trust reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.29 by $0.02. Rithm Capital had a net margin of 20.51% and a return on equity of 13.84%. During the same period last year, the business posted $0.31 earnings per share. As a group, research analysts anticipate that Rithm Capital Corporation will post 1.21 EPS for the current year.

Rithm Capital Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 29th. Shareholders of record on Friday, July 1st were paid a $0.25 dividend. The ex-dividend date was Thursday, June 30th. This represents a $1.00 annualized dividend and a yield of 10.10%. Rithm Capital’s dividend payout ratio is currently 50.25%.

Analysts Set New Price Targets

A number of brokerages recently commented on RITM. Piper Sandler downgraded Rithm Capital from a “neutral” rating to an “underweight” rating and decreased their price target for the company from $12.00 to $10.00 in a research report on Monday, June 13th. Credit Suisse Group reduced their price target on shares of Rithm Capital to $12.00 in a research report on Friday, July 22nd. Finally, StockNews.com upgraded shares of Rithm Capital from a “hold” rating to a “buy” rating in a research report on Monday, May 9th. One research analyst has rated the stock with a sell rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $12.00.

Rithm Capital Profile

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New Residential Investment Corp. is a real estate investment trust, which 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.