Rithm Capital Corp. (NYSE:RITM) Shares Purchased by Edgestream Partners L.P.

Edgestream Partners L.P. boosted its stake in Rithm Capital Corp. (NYSE:RITM) by 14.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 465,232 shares of the real estate investment trust’s stock after purchasing an additional 57,345 shares during the period. Edgestream Partners L.P. owned approximately 0.10% of Rithm Capital worth $5,076,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the stock. Natixis acquired a new stake in shares of Rithm Capital during the first quarter valued at about $689,000. Allianz Asset Management GmbH grew its stake in shares of Rithm Capital by 107.7% during the fourth quarter. Allianz Asset Management GmbH now owns 1,171,379 shares of the real estate investment trust’s stock valued at $12,510,000 after acquiring an additional 607,413 shares in the last quarter. Dynamic Technology Lab Private Ltd grew its stake in shares of Rithm Capital by 14.1% during the fourth quarter. Dynamic Technology Lab Private Ltd now owns 21,181 shares of the real estate investment trust’s stock valued at $226,000 after acquiring an additional 2,614 shares in the last quarter. Slagle Financial LLC grew its stake in shares of Rithm Capital by 99.1% during the fourth quarter. Slagle Financial LLC now owns 474,538 shares of the real estate investment trust’s stock valued at $5,068,000 after acquiring an additional 236,199 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in shares of Rithm Capital by 0.8% during the first quarter. Vanguard Group Inc. now owns 45,815,852 shares of the real estate investment trust’s stock valued at $511,305,000 after acquiring an additional 378,931 shares in the last quarter. 44.92% of the stock is currently owned by institutional investors and hedge funds.

Rithm Capital Stock Performance

Shares of NYSE RITM opened at $11.89 on Wednesday. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 1.81. The firm’s 50-day moving average price is $11.44 and its two-hundred day moving average price is $11.17. Rithm Capital Corp. has a 52-week low of $8.87 and a 52-week high of $11.97. The stock has a market capitalization of $5.75 billion, a P/E ratio of 7.92 and a beta of 1.80.

Rithm Capital (NYSE:RITM) last issued its earnings results on Wednesday, July 31st. The real estate investment trust reported $0.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.05. Rithm Capital had a net margin of 15.55% and a return on equity of 18.04%. The firm had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.15 billion. During the same quarter last year, the company posted $0.62 earnings per share. Rithm Capital’s revenue was up 18.4% on a year-over-year basis. As a group, sell-side analysts forecast that Rithm Capital Corp. will post 1.82 earnings per share for the current year.

Wall Street Analyst Weigh In

RITM has been the subject of several recent analyst reports. Royal Bank of Canada restated an “outperform” rating and set a $13.00 target price on shares of Rithm Capital in a research note on Tuesday, August 13th. JMP Securities raised their target price on Rithm Capital from $11.00 to $12.50 and gave the company a “market outperform” rating in a research note on Friday, July 19th. Finally, Wedbush reaffirmed an “outperform” rating and set a $13.00 price target on shares of Rithm Capital in a research report on Friday, August 16th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Rithm Capital presently has a consensus rating of “Moderate Buy” and an average target price of $12.60.

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.