Burney Co. Has $1.27 Million Position in Rithm Capital Corp. $RITM

Burney Co. lowered its position in Rithm Capital Corp. (NYSE:RITM) by 6.9% in the second quarter, HoldingsChannel.com reports. The fund owned 112,489 shares of the real estate investment trust’s stock after selling 8,329 shares during the quarter. Burney Co.’s holdings in Rithm Capital were worth $1,270,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently added to or reduced their stakes in the company. SouthState Corp acquired a new stake in shares of Rithm Capital in the first quarter valued at approximately $25,000. Cullen Frost Bankers Inc. acquired a new stake in shares of Rithm Capital in the second quarter valued at approximately $30,000. Ameritas Advisory Services LLC acquired a new stake in shares of Rithm Capital in the second quarter valued at approximately $43,000. SVB Wealth LLC acquired a new stake in shares of Rithm Capital in the first quarter valued at approximately $57,000. Finally, GAMMA Investing LLC lifted its position in shares of Rithm Capital by 19.1% in the second quarter. GAMMA Investing LLC now owns 5,528 shares of the real estate investment trust’s stock valued at $62,000 after buying an additional 887 shares during the last quarter. Institutional investors and hedge funds own 44.92% of the company’s stock.

Analyst Upgrades and Downgrades

RITM has been the subject of a number of recent analyst reports. Keefe, Bruyette & Woods raised their price objective on Rithm Capital from $13.50 to $14.00 and gave the company an “outperform” rating in a research report on Tuesday, July 29th. Jones Trading reaffirmed a “buy” rating and issued a $13.50 price objective on shares of Rithm Capital in a research report on Thursday, October 30th. Wedbush reaffirmed an “outperform” rating and issued a $14.00 price objective on shares of Rithm Capital in a research report on Wednesday, August 6th. Weiss Ratings reissued a “buy (b)” rating on shares of Rithm Capital in a report on Wednesday, October 8th. Finally, UBS Group lifted their price target on Rithm Capital from $14.00 to $16.00 and gave the stock a “buy” rating in a report on Wednesday, September 3rd. One analyst has rated the stock with a Strong Buy rating and nine have given a Buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus price target of $14.25.

Rithm Capital Price Performance

NYSE:RITM opened at $10.98 on Wednesday. Rithm Capital Corp. has a 52 week low of $9.13 and a 52 week high of $12.74. The firm has a market cap of $6.08 billion, a price-to-earnings ratio of 7.57 and a beta of 1.30. The firm’s 50-day simple moving average is $11.54 and its 200 day simple moving average is $11.57. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.40 and a current ratio of 0.45.

Rithm Capital (NYSE:RITM) last released its quarterly earnings results on Thursday, October 30th. The real estate investment trust reported $0.54 EPS for the quarter, hitting analysts’ consensus estimates of $0.54. Rithm Capital had a net margin of 17.08% and a return on equity of 18.82%. The business had revenue of $314.93 million for the quarter, compared to analyst estimates of $1.07 billion. As a group, sell-side analysts predict that Rithm Capital Corp. will post 1.93 earnings per share for the current year.

Rithm Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Wednesday, October 1st were issued a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, October 1st. This represents a $1.00 annualized dividend and a yield of 9.1%. Rithm Capital’s payout ratio is currently 68.97%.

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.