Highlander Capital Management LLC Grows Position in Rithm Capital Corporation (NYSE:RITM)

Highlander Capital Management LLC boosted its position in shares of Rithm Capital Corporation (NYSE:RITMGet Rating) by 12.6% in the first quarter, according to its most recent filing with the Securities & 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 filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the company. Bank of America Corp DE increased its stake in shares of Rithm Capital by 43.7% during the fourth quarter. Bank of America Corp DE now owns 5,520,123 shares of the real estate investment trust’s stock valued at $59,121,000 after buying an additional 1,679,722 shares during the period. Invesco Ltd. lifted its stake in Rithm Capital by 167.8% in the fourth quarter. Invesco Ltd. now owns 1,932,972 shares of the real estate investment trust’s stock worth $20,702,000 after acquiring an additional 1,211,245 shares during the period. Deer Park Road Corp purchased a new stake in Rithm Capital in the fourth quarter worth $9,733,000. Full18 Capital LLC lifted its stake in Rithm Capital by 250.7% in the first quarter. Full18 Capital LLC now owns 476,605 shares of the real estate investment trust’s stock worth $5,101,000 after acquiring an additional 340,705 shares during the period. Finally, Qube Research & Technologies Ltd lifted its stake in Rithm Capital by 160.1% in the fourth quarter. Qube Research & Technologies Ltd now owns 409,703 shares of the real estate investment trust’s stock worth $4,388,000 after acquiring an additional 252,158 shares during the period. Hedge funds and other institutional investors own 46.48% of the company’s stock.

Rithm Capital Stock Up 0.3 %

Shares of NYSE:RITM opened at $9.90 on Friday. The stock has a fifty day simple moving average of $10.04 and a two-hundred day simple moving average of $10.41. The stock has a market capitalization of $4.62 billion, a price-to-earnings ratio of 4.97 and a beta of 1.68. Rithm Capital Corporation has a 12-month low of $8.18 and a 12-month high of $11.81. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 0.09.

Rithm Capital (NYSE:RITMGet 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 quarter last year, the company posted $0.31 earnings per share. On average, research analysts anticipate that Rithm Capital Corporation will post 1.21 earnings per share for the current fiscal year.

Rithm Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 29th. Shareholders of record on Friday, July 1st were paid a dividend of $0.25 per share. 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 50.25%.

Analysts Set New Price Targets

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

About Rithm Capital

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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.

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Institutional Ownership by Quarter for Rithm Capital (NYSE:RITM)

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