Annex Advisory Services LLC Makes New $288,000 Investment in Rithm Capital Corp. $RITM

Annex Advisory Services LLC acquired a new stake in shares of Rithm Capital Corp. (NYSE:RITM) in the 2nd quarter, HoldingsChannel reports. The fund acquired 25,500 shares of the real estate investment trust’s stock, valued at approximately $288,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. KBC Group NV raised its stake in Rithm Capital by 24.0% in the first quarter. KBC Group NV now owns 22,846 shares of the real estate investment trust’s stock worth $262,000 after buying an additional 4,423 shares in the last quarter. Kingstone Capital Partners Texas LLC bought a new position in Rithm Capital in the second quarter worth about $96,027,000. Belpointe Asset Management LLC raised its stake in Rithm Capital by 84.2% in the first quarter. Belpointe Asset Management LLC now owns 54,520 shares of the real estate investment trust’s stock worth $624,000 after buying an additional 24,920 shares in the last quarter. Edgestream Partners L.P. raised its stake in Rithm Capital by 341.5% in the first quarter. Edgestream Partners L.P. now owns 688,882 shares of the real estate investment trust’s stock worth $7,888,000 after buying an additional 532,866 shares in the last quarter. Finally, Amalgamated Bank raised its stake in Rithm Capital by 5.9% in the first quarter. Amalgamated Bank now owns 27,064 shares of the real estate investment trust’s stock worth $310,000 after buying an additional 1,502 shares in the last quarter. 44.92% of the stock is owned by institutional investors.

Rithm Capital Price Performance

Rithm Capital stock opened at $11.84 on Tuesday. The stock has a market cap of $6.28 billion, a price-to-earnings ratio of 9.10 and a beta of 1.30. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.40 and a quick ratio of 0.40. Rithm Capital Corp. has a 1 year low of $9.13 and a 1 year high of $12.74. The firm has a 50-day moving average of $12.26 and a two-hundred day moving average of $11.55.

Rithm Capital (NYSE:RITM) last posted its quarterly earnings results on Monday, July 28th. The real estate investment trust reported $0.54 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 analyst estimates of $1.18 billion. On average, research analysts forecast that Rithm Capital Corp. will post 1.93 earnings per share for the current year.

Rithm Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Wednesday, October 1st will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 8.4%. The ex-dividend date is Wednesday, October 1st. Rithm Capital’s payout ratio is 76.92%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on RITM shares. Royal Bank Of Canada upped their price objective on shares of Rithm Capital from $13.00 to $14.00 and gave the stock an “outperform” rating in a report on Friday, August 1st. Keefe, Bruyette & Woods upped their price objective on shares of Rithm Capital from $13.50 to $14.00 and gave the stock an “outperform” rating in a report on Tuesday, July 29th. Jones Trading increased their price target on shares of Rithm Capital from $12.50 to $13.50 and gave the company a “buy” rating in a report on Tuesday, July 29th. Wedbush restated an “outperform” rating and set a $14.00 price objective on shares of Rithm Capital in a research report on Wednesday, August 6th. Finally, BTIG Research restated a “buy” rating and issued a $16.00 target price on shares of Rithm Capital in a report on Wednesday, September 17th. One equities research analyst has rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price 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.