Park Avenue Securities LLC Purchases Shares of 11,894 Rithm Capital Corp. $RITM

Park Avenue Securities LLC bought a new stake in Rithm Capital Corp. (NYSE:RITM) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 11,894 shares of the real estate investment trust’s stock, valued at approximately $134,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. SouthState Corp acquired a new stake in shares of Rithm Capital in the 1st quarter valued at $25,000. Fourth Dimension Wealth LLC boosted its stake in shares of Rithm Capital by 50.0% in the 1st quarter. Fourth Dimension Wealth LLC now owns 3,000 shares of the real estate investment trust’s stock valued at $34,000 after purchasing an additional 1,000 shares in the last quarter. SVB Wealth LLC acquired a new stake in shares of Rithm Capital in the 1st quarter valued at $57,000. CWM LLC boosted its stake in shares of Rithm Capital by 25.5% in the 1st quarter. CWM LLC now owns 6,046 shares of the real estate investment trust’s stock valued at $69,000 after purchasing an additional 1,228 shares in the last quarter. Finally, Rossby Financial LCC acquired a new stake in shares of Rithm Capital in the 1st quarter valued at $79,000. Institutional investors and hedge funds own 44.92% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Jones Trading boosted their target price 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. BTIG Research reiterated a “buy” rating and set a $16.00 price target on shares of Rithm Capital in a research report on Wednesday, September 17th. Wedbush reiterated an “outperform” rating and set a $14.00 price target on shares of Rithm Capital in a research report on Wednesday, August 6th. Keefe, Bruyette & Woods upped their price target on shares of Rithm Capital from $13.50 to $14.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 29th. Finally, UBS Group upped their price target on shares of Rithm Capital from $14.00 to $16.00 and gave the stock a “buy” rating in a research report on Wednesday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating and eight have assigned a Buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $14.25.

Rithm Capital Stock Performance

Shares of RITM stock opened at $11.16 on Friday. The stock has a 50-day moving average of $12.18 and a 200-day moving average of $11.55. Rithm Capital Corp. has a one year low of $9.13 and a one year high of $12.74. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.40 and a quick ratio of 0.40. The stock has a market cap of $5.92 billion, a PE ratio of 8.58 and a beta of 1.31.

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

Rithm Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders 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 9.0%. The ex-dividend date of this dividend is Wednesday, October 1st. Rithm Capital’s dividend payout ratio (DPR) is currently 76.92%.

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.