Rithm Capital Corp: Institutional and hedge fund investors are interested in Rithm Capital Corp. (NYSE: RITM) shares. Mitsubishi UFJ Trust & Banking Corp reported a $1,081,000 acquisition of 135,109 real estate investment trust shares in its 13F filing with the SEC. This shows growing confidence in Rithm Capital’s financial performance and real estate potential.
Q2 results from Rithm Capital exceeded market estimates. The company beat the consensus estimate of $0.34 by $0.28 with $0.62 EPS. Rithm Capital’s quarterly revenue was $1.04 billion, with a 14.96% return on equity and 20.61% net margin. This exceeded $880.65 million and was 32.5% higher than the previous year. The company’s strong earnings have experts predicting a 1.52 EPS for the year.
Big players have increased interest in Rithm Capital’s stock. City Holding Co. opened a $28,000 position in Q1. Lazard Asset Management, National Bank of Canada FI, American International Group Inc., and Cowen Prime Advisors LLC also own stakes, totaling 44.33%.
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On Thursday, Rithm Capital’s shares opened at $9.72 and were worth $4.70 billion. The company’s 7.42 P/E suggests earnings potential. The stock’s 1.82 beta indicates more volatility than comparable stocks.
The stock’s historical trading range is $6.86 to $10.34 during the past year. The 50-day and 200-day moving averages are $9.67 and $8.84, respectively. The business also announced a $0.25 per share dividend, or 10.29% annually. The dividend payout ratio is 76.34%.
Equity analysts have mixed perspectives on RITM shares. Royal Bank of Canada issued a $12.00 goal, Raymond James boosted it to $11.50, and JMP Securities raised it to $10.50. Piper Sandler raised their target from $10.00 to $10.50, while Wedbush maintained $12.00. One of seven RITM analysts rated a hold, while six recommended a buy with an average price objective of $11.19.
Despite institutional investor interest and excellent financial data, Rithm Capital Corp.’s future is still being determined. Investors should be cautious and diligent while investing in RITM due to analyst opinions and the stock’s volatility.
Our Reader’s Queries
What does Rithm Capital Corp do?
Rithm Capital Corporation is a company that operates in various segments, including Origination, Servicing, MSR Related Investments, Residential Securities, Properties and Loans, Consumer Loans, Mortgage Loans Receivables, and Corporate. Each segment plays a crucial role in the company’s overall operations. With a focus on providing top-notch services, Rithm Capital Corporation is committed to delivering value to its clients.
Is ritm a good stock to buy?
According to the opinions of 6 Wall Street analysts, Rithm Capital’s analyst rating consensus is a Strong Buy. This indicates a high level of confidence in the company’s potential for growth and success.
What did Rithm Capital used to be called?
Rithm Capital is the new name for New Residential Investment Corp., the mortgage real estate investment trust and parent company of nonbank lender Newrez. The change in name reflects the company’s commitment to innovation and progress in the industry. As Rithm Capital, the company will continue to provide top-notch services to its clients and partners.
Who owns rithm?
Rithm Capital (NYSE: RITM) is primarily owned by institutional shareholders (43.15%) and retail investors (55.55%), with Rithm Capital insiders holding a small percentage (1.31%). The largest individual shareholder is Wesley R. Edens, who owns 2.65M shares, representing 0.55% of the company.