Advisors Asset Management Inc. Grows Stock Position in Rithm Capital Corp. (NYSE:RITM)

Advisors Asset Management Inc. lifted its holdings in shares of Rithm Capital Corp. (NYSE:RITM) by 2.3% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 119,344 shares of the real estate investment trust’s stock after acquiring an additional 2,654 shares during the period. Advisors Asset Management Inc.’s holdings in Rithm Capital were worth $1,355,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of RITM. Russell Investments Group Ltd. grew its position in Rithm Capital by 196.3% during the 1st quarter. Russell Investments Group Ltd. now owns 26,182 shares of the real estate investment trust’s stock worth $293,000 after purchasing an additional 17,345 shares during the last quarter. Bessemer Group Inc. purchased a new stake in shares of Rithm Capital during the first quarter valued at $30,000. CANADA LIFE ASSURANCE Co increased its position in shares of Rithm Capital by 261.1% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 360,217 shares of the real estate investment trust’s stock valued at $4,022,000 after acquiring an additional 260,454 shares during the period. Price T Rowe Associates Inc. MD raised its stake in Rithm Capital by 7.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 225,902 shares of the real estate investment trust’s stock worth $2,522,000 after acquiring an additional 15,098 shares during the last quarter. Finally, Bayesian Capital Management LP acquired a new stake in Rithm Capital during the 1st quarter worth about $723,000. Institutional investors and hedge funds own 44.92% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on RITM. Royal Bank of Canada reissued an “outperform” rating and issued a $13.00 price objective on shares of Rithm Capital in a report on Thursday, November 21st. Wedbush reiterated an “outperform” rating and issued a $14.00 price target on shares of Rithm Capital in a report on Thursday, November 7th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $12.78.

Rithm Capital Stock Up 1.5 %

Shares of RITM stock opened at $11.15 on Tuesday. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.63. Rithm Capital Corp. has a twelve month low of $9.97 and a twelve month high of $12.02. The stock has a 50 day moving average of $10.90 and a 200 day moving average of $11.13. The stock has a market cap of $5.80 billion, a P/E ratio of 11.26 and a beta of 1.80.

Rithm Capital (NYSE:RITM) last posted its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.12. The firm had revenue of $619.51 million during the quarter, compared to analysts’ expectations of $1.11 billion. Rithm Capital had a net margin of 14.99% and a return on equity of 17.54%. During the same period in the previous year, the business posted $0.58 EPS. As a group, sell-side analysts expect that Rithm Capital Corp. will post 1.89 EPS for the current year.

Rithm Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Tuesday, October 1st were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.97%. The ex-dividend date of this dividend was Tuesday, October 1st. Rithm Capital’s dividend payout ratio (DPR) is presently 101.01%.

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.