LSV Asset Management Has $58.32 Million Stock Position in Rithm Capital Corp. $RITM

LSV Asset Management reduced its stake in Rithm Capital Corp. (NYSE:RITM) by 4.4% during the 3rd quarter, HoldingsChannel reports. The firm owned 5,120,500 shares of the real estate investment trust’s stock after selling 234,500 shares during the quarter. LSV Asset Management’s holdings in Rithm Capital were worth $58,322,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Norges Bank acquired a new stake in Rithm Capital in the 2nd quarter valued at $72,762,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Rithm Capital in the 2nd quarter valued at $24,938,000. State Street Corp boosted its stake in shares of Rithm Capital by 11.5% in the 2nd quarter. State Street Corp now owns 10,178,853 shares of the real estate investment trust’s stock valued at $117,426,000 after purchasing an additional 1,052,130 shares in the last quarter. One Fin Capital Management LP bought a new stake in shares of Rithm Capital in the 2nd quarter worth about $11,854,000. Finally, Qube Research & Technologies Ltd increased its position in shares of Rithm Capital by 31.5% during the 2nd quarter. Qube Research & Technologies Ltd now owns 4,366,657 shares of the real estate investment trust’s stock worth $49,300,000 after purchasing an additional 1,045,018 shares in the last quarter. Institutional investors own 44.92% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of Rithm Capital in a research report on Monday, December 29th. Jones Trading reissued a “buy” rating and issued a $13.50 target price on shares of Rithm Capital in a report on Thursday, October 30th. UBS Group set a $15.00 price target on Rithm Capital in a report on Friday, February 6th. Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of Rithm Capital in a research report on Thursday, December 18th. Finally, Wedbush started coverage on Rithm Capital in a research note on Monday, December 15th. They issued an “outperform” rating and a $14.00 price objective on the stock. Seven research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $14.50.

Rithm Capital Price Performance

RITM opened at $10.58 on Friday. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.45 and a quick ratio of 0.45. The stock has a market capitalization of $5.86 billion, a P/E ratio of 10.17 and a beta of 1.20. The company’s 50 day simple moving average is $11.21 and its 200-day simple moving average is $11.48. Rithm Capital Corp. has a one year low of $9.13 and a one year high of $12.74.

Rithm Capital (NYSE:RITM) last posted its quarterly earnings data on Tuesday, February 3rd. The real estate investment trust reported $0.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.55 by $0.19. The firm had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.24 billion. Rithm Capital had a return on equity of 20.19% and a net margin of 15.55%. Sell-side analysts anticipate that Rithm Capital Corp. will post 1.93 earnings per share for the current fiscal year.

Rithm Capital Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 30th. Stockholders of record on Wednesday, December 31st were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 9.5%. The ex-dividend date of this dividend was Wednesday, December 31st. Rithm Capital’s dividend payout ratio is 96.15%.

About Rithm Capital

Rithm Capital Corporation is a specialty finance company that originates, acquires and manages structured credit investments collateralized by real estate assets in the United States. The company focuses primarily on senior floating-rate loans secured by multifamily, commercial, industrial and single-family rental properties, aiming to deliver attractive risk-adjusted yields through a diversified portfolio of floating-rate real estate debt.

In addition to senior loans, Rithm Capital invests in residential mortgage-backed securities, including agency and non-agency pools, as well as other real estate-related credit instruments.