Advisors Capital Management LLC Buys 10,383 Shares of Rithm Capital Corp. $RITM

Advisors Capital Management LLC boosted its stake in Rithm Capital Corp. (NYSE:RITM) by 0.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,613,120 shares of the real estate investment trust’s stock after acquiring an additional 10,383 shares during the quarter. Advisors Capital Management LLC owned 0.30% of Rithm Capital worth $18,470,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Geneos Wealth Management Inc. lifted its position in Rithm Capital by 14.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 7,031 shares of the real estate investment trust’s stock valued at $81,000 after acquiring an additional 881 shares in the last quarter. Blue Rock Wealth Management LLC bought a new position in Rithm Capital in the first quarter valued at $126,000. Belpointe Asset Management LLC increased its stake in Rithm Capital by 84.2% in the 1st quarter. Belpointe Asset Management LLC now owns 54,520 shares of the real estate investment trust’s stock valued at $624,000 after buying an additional 24,920 shares during the last quarter. Coppell Advisory Solutions LLC increased its stake in Rithm Capital by 2,933.6% in the 1st quarter. Coppell Advisory Solutions LLC now owns 28,000 shares of the real estate investment trust’s stock valued at $321,000 after buying an additional 27,077 shares during the last quarter. Finally, Caxton Associates LLP acquired a new stake in Rithm Capital in the 1st quarter valued at $4,362,000. 44.92% of the stock is owned by institutional investors.

Rithm Capital Trading Up 0.3%

Shares of NYSE:RITM opened at $12.54 on Friday. Rithm Capital Corp. has a 52-week low of $9.13 and a 52-week high of $12.74. The company has a market capitalization of $6.65 billion, a P/E ratio of 9.65 and a beta of 1.30. The company has a 50-day simple moving average of $12.19 and a 200 day simple moving average of $11.54. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.40 and a current ratio of 0.40.

Rithm Capital (NYSE:RITM) last issued its earnings results on Monday, July 28th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.03. Rithm Capital had a net margin of 16.72% and a return on equity of 18.89%. The business had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.18 billion. Sell-side analysts forecast that Rithm Capital Corp. will post 1.93 earnings per share for the current year.

Rithm Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Shareholders of record on Monday, June 30th were given a dividend of $0.25 per share. The ex-dividend date was Monday, June 30th. This represents a $1.00 annualized dividend and a yield of 8.0%. Rithm Capital’s dividend payout ratio (DPR) is 76.92%.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Jones Trading lifted their price target on shares of Rithm Capital from $12.50 to $13.50 and gave the company a “buy” rating in a research note on Tuesday, July 29th. Wedbush reiterated an “outperform” rating and issued a $14.00 price target on shares of Rithm Capital in a research note on Wednesday, August 6th. UBS Group lifted their price target on shares of Rithm Capital from $14.00 to $16.00 and gave the company a “buy” rating in a research note on Wednesday, September 3rd. Royal Bank Of Canada lifted their price target on shares of Rithm Capital from $13.00 to $14.00 and gave the company an “outperform” rating in a research note on Friday, August 1st. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Rithm Capital from $13.50 to $14.00 and gave the company an “outperform” rating in a research note on Tuesday, July 29th. One research analyst has rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the company. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $14.25.

About Rithm Capital

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.