Quest Partners LLC Has $45,000 Position in Rithm Capital Corp. (NYSE:RITM)

Quest Partners LLC lessened its stake in Rithm Capital Corp. (NYSE:RITM) by 90.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,968 shares of the real estate investment trust’s stock after selling 38,759 shares during the period. Quest Partners LLC’s holdings in Rithm Capital were worth $45,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Rithm Capital by 154.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,513 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 1,525 shares during the period. Godsey & Gibb Inc. acquired a new stake in shares of Rithm Capital during the 3rd quarter worth approximately $51,000. Future Financial Wealth Managment LLC acquired a new stake in shares of Rithm Capital during the 3rd quarter worth approximately $73,000. Summit Securities Group LLC bought a new stake in shares of Rithm Capital during the second quarter worth approximately $74,000. Finally, Allworth Financial LP boosted its stake in Rithm Capital by 281.2% in the third quarter. Allworth Financial LP now owns 8,695 shares of the real estate investment trust’s stock valued at $99,000 after acquiring an additional 6,414 shares during the last quarter. Institutional investors and hedge funds own 44.92% of the company’s stock.

Rithm Capital Trading Up 0.6 %

Shares of NYSE:RITM opened at $11.25 on Friday. The firm has a market cap of $5.85 billion, a price-to-earnings ratio of 11.36 and a beta of 1.80. Rithm Capital Corp. has a 12 month low of $9.97 and a 12 month high of $12.02. The company’s fifty day simple moving average is $10.83 and its 200 day simple moving average is $11.13. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.63.

Rithm Capital (NYSE:RITM) last released its quarterly 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 for the quarter, compared to the consensus estimate of $1.11 billion. Rithm Capital had a return on equity of 17.54% and a net margin of 14.99%. During the same quarter last year, the business posted $0.58 EPS. As a group, research analysts forecast that Rithm Capital Corp. will post 1.89 EPS for the current fiscal year.

Rithm Capital Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders 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 yield of 8.89%. The ex-dividend date of this dividend was Tuesday, October 1st. Rithm Capital’s dividend payout ratio (DPR) is currently 101.01%.

Analyst Upgrades and Downgrades

Several analysts have commented on the stock. Wedbush reiterated an “outperform” rating and set a $14.00 target price on shares of Rithm Capital in a research report on Thursday, November 7th. Royal Bank of Canada reiterated an “outperform” rating and issued a $13.00 price objective on shares of Rithm Capital in a report on Thursday, November 21st. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.78.

About Rithm Capital

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.