Meridian Financial Partners LLC Boosts Stock Position in Rithm Capital Corp. (NYSE:RITM)

Meridian Financial Partners LLC boosted its holdings in shares of Rithm Capital Corp. (NYSE:RITM) by 3.7% during the 1st quarter, Holdings Channel.com reports. The firm owned 86,059 shares of the real estate investment trust’s stock after purchasing an additional 3,098 shares during the quarter. Meridian Financial Partners LLC’s holdings in Rithm Capital were worth $985,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the company. Quarry LP grew its stake in Rithm Capital by 47.5% during the 4th quarter. Quarry LP now owns 4,118 shares of the real estate investment trust’s stock worth $45,000 after buying an additional 1,327 shares during the last quarter. Quadrant Capital Group LLC grew its stake in shares of Rithm Capital by 35.2% in the fourth quarter. Quadrant Capital Group LLC now owns 4,655 shares of the real estate investment trust’s stock worth $50,000 after purchasing an additional 1,211 shares in the last quarter. Quent Capital LLC grew its stake in shares of Rithm Capital by 58.6% in the first quarter. Quent Capital LLC now owns 5,465 shares of the real estate investment trust’s stock worth $63,000 after purchasing an additional 2,019 shares in the last quarter. C M Bidwell & Associates Ltd. bought a new position in shares of Rithm Capital in the fourth quarter worth $81,000. Finally, Versant Capital Management Inc bought a new position in shares of Rithm Capital in the first quarter worth $98,000. 44.92% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on the company. Wedbush reissued an “outperform” rating and issued a $14.00 price target on shares of Rithm Capital in a research note on Monday, May 19th. UBS Group decreased their price target on Rithm Capital from $14.00 to $13.00 and set a “buy” rating for the company in a research note on Wednesday, April 16th. BTIG Research reissued a “buy” rating and issued a $16.00 price target on shares of Rithm Capital in a research note on Friday, April 25th. Piper Sandler raised Rithm Capital from a “neutral” rating to an “overweight” rating and increased their price target for the stock from $12.50 to $14.00 in a research note on Monday, April 28th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $13.00 price objective on shares of Rithm Capital in a report on Tuesday, May 20th. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average price target of $13.56.

Rithm Capital Trading Up 1.0%

NYSE:RITM opened at $11.33 on Friday. The company has a quick ratio of 1.35, a current ratio of 1.09 and a debt-to-equity ratio of 1.74. Rithm Capital Corp. has a 1-year low of $9.13 and a 1-year high of $12.20. The firm has a market capitalization of $6.00 billion, a price-to-earnings ratio of 6.78 and a beta of 1.26. The stock has a fifty day simple moving average of $10.87 and a 200 day simple moving average of $11.21.

Rithm Capital (NYSE:RITM) last released its quarterly earnings results on Friday, April 25th. The real estate investment trust reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.45 by $0.07. Rithm Capital had a return on equity of 18.15% and a net margin of 17.79%. The business had revenue of $28.89 million during the quarter, compared to analyst estimates of $1.27 billion. During the same quarter last year, the company posted $0.48 EPS. Sell-side analysts forecast that Rithm Capital Corp. will post 1.93 earnings per share for the current year.

Rithm Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Monday, March 31st were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 8.83%. The ex-dividend date of this dividend was Monday, March 31st. Rithm Capital’s dividend payout ratio is currently 83.33%.

Rithm Capital 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.