Melia Wealth LLC Acquires 7,495 Shares of Rithm Capital Corp. $RITM

Melia Wealth LLC increased its holdings in Rithm Capital Corp. (NYSE:RITM) by 3.3% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 233,784 shares of the real estate investment trust’s stock after acquiring an additional 7,495 shares during the quarter. Rithm Capital comprises about 1.3% of Melia Wealth LLC’s investment portfolio, making the stock its 15th biggest holding. Melia Wealth LLC’s holdings in Rithm Capital were worth $2,639,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Kingstone Capital Partners Texas LLC bought a new position in shares of Rithm Capital in the 2nd quarter worth about $96,027,000. KBC Group NV increased its stake in shares of Rithm Capital by 24.0% in the 1st quarter. KBC Group NV now owns 22,846 shares of the real estate investment trust’s stock worth $262,000 after acquiring an additional 4,423 shares in the last quarter. Belpointe Asset Management LLC increased its stake in shares of Rithm Capital by 84.2% in the 1st quarter. Belpointe Asset Management LLC now owns 54,520 shares of the real estate investment trust’s stock worth $624,000 after acquiring an additional 24,920 shares in the last quarter. Edgestream Partners L.P. increased its stake in shares of Rithm Capital by 341.5% in the 1st quarter. Edgestream Partners L.P. now owns 688,882 shares of the real estate investment trust’s stock worth $7,888,000 after acquiring an additional 532,866 shares in the last quarter. Finally, Amalgamated Bank increased its stake in shares of Rithm Capital by 5.9% in the 1st quarter. Amalgamated Bank now owns 27,064 shares of the real estate investment trust’s stock worth $310,000 after acquiring an additional 1,502 shares in the last quarter. 44.92% of the stock is currently owned by institutional investors.

Rithm Capital Stock Performance

Shares of RITM stock opened at $10.77 on Tuesday. The company’s 50-day moving average is $12.00 and its 200 day moving average is $11.50. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.40 and a current ratio of 0.40. The company has a market capitalization of $5.71 billion, a price-to-earnings ratio of 8.28 and a beta of 1.31. Rithm Capital Corp. has a one year low of $9.13 and a one year high of $12.74.

Rithm Capital (NYSE:RITM) last announced its quarterly earnings results on Monday, July 28th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.03. The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.18 billion. Rithm Capital had a net margin of 16.72% and a return on equity of 18.89%. Sell-side analysts expect that Rithm Capital Corp. will post 1.93 EPS for the current fiscal year.

Rithm Capital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Wednesday, October 1st will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.3%. The ex-dividend date of this dividend is Wednesday, October 1st. Rithm Capital’s dividend payout ratio (DPR) is presently 76.92%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on RITM shares. Royal Bank Of Canada increased their price target on shares of Rithm Capital from $13.00 to $14.00 and gave the stock an “outperform” rating in a research note on Friday, August 1st. Keefe, Bruyette & Woods increased their price objective on shares of Rithm Capital from $13.50 to $14.00 and gave the company an “outperform” rating in a research report on Tuesday, July 29th. BTIG Research reissued a “buy” rating and set a $16.00 price objective on shares of Rithm Capital in a research report on Wednesday, September 17th. Wedbush reissued an “outperform” rating and set a $14.00 price objective on shares of Rithm Capital in a research report on Wednesday, August 6th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Rithm Capital in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating and nine have given a Buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus target price of $14.25.

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.