Mirae Asset Global Investments Co. Ltd. Raises Stock Holdings in Rithm Capital Corp. (NYSE:RITM)

Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Rithm Capital Corp. (NYSE:RITMGet Rating) by 1,507.7% in the first quarter, HoldingsChannel.com reports. The fund owned 1,259,186 shares of the real estate investment trust’s stock after acquiring an additional 1,180,866 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Rithm Capital were worth $13,826,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. SG Americas Securities LLC purchased a new stake in shares of Rithm Capital during the first quarter valued at approximately $1,514,000. D. E. Shaw & Co. Inc. increased its position in shares of Rithm Capital by 1.3% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 887,975 shares of the real estate investment trust’s stock valued at $9,510,000 after acquiring an additional 11,597 shares during the last quarter. Crescent Grove Advisors LLC purchased a new stake in Rithm Capital in the first quarter worth $205,000. Nisa Investment Advisors LLC increased its position in Rithm Capital by 10.1% in the first quarter. Nisa Investment Advisors LLC now owns 241,960 shares of the real estate investment trust’s stock worth $2,657,000 after buying an additional 22,242 shares during the last quarter. Finally, Prospera Financial Services Inc increased its position in Rithm Capital by 23.5% in the first quarter. Prospera Financial Services Inc now owns 83,732 shares of the real estate investment trust’s stock worth $919,000 after buying an additional 15,932 shares during the last quarter. 46.51% of the stock is owned by hedge funds and other institutional investors.

Rithm Capital Price Performance

Rithm Capital stock opened at $8.98 on Monday. Rithm Capital Corp. has a one year low of $8.18 and a one year high of $11.81. The business has a fifty day moving average price of $9.82 and a 200-day moving average price of $10.22. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.52 and a quick ratio of 0.52. The firm has a market capitalization of $4.19 billion, a P/E ratio of 4.51 and a beta of 1.70.

Rithm Capital (NYSE:RITMGet Rating) last posted its quarterly earnings data on Tuesday, August 2nd. The real estate investment trust reported $0.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.29 by $0.02. Rithm Capital had a return on equity of 13.69% and a net margin of 20.51%. During the same quarter last year, the business earned $0.31 earnings per share. As a group, equities research analysts forecast that Rithm Capital Corp. will post 1.24 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have issued reports on RITM shares. Credit Suisse Group decreased their target price on Rithm Capital to $12.00 in a research report on Friday, July 22nd. Piper Sandler downgraded Rithm Capital from a “neutral” rating to an “underweight” rating and decreased their target price for the stock from $12.00 to $10.00 in a research report on Monday, June 13th. Finally, Raymond James decreased their target price on Rithm Capital from $13.00 to $12.50 and set an “outperform” rating for the company in a research report on Wednesday, August 17th. One analyst has rated the stock with a sell rating and six have assigned a buy rating to the stock. According to MarketBeat, Rithm Capital currently has a consensus rating of “Moderate Buy” and a consensus target price of $11.80.

Rithm Capital Profile

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Rithm Capital Corp. provides capital and services to the real estate and financial services sectors in the United States. Its investment portfolio comprises mortgage servicing related assets, residential securities and loans, and consumer loans. It qualifies as a real estate investment trust for federal income tax purposes.

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Institutional Ownership by Quarter for Rithm Capital (NYSE:RITM)

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