Freedom Investment Management Inc. Takes Position in Rithm Capital Corp. (NYSE:RITM)

Freedom Investment Management Inc. purchased a new position in Rithm Capital Corp. (NYSE:RITM) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 20,261 shares of the real estate investment trust’s stock, valued at approximately $230,000.

A number of other hedge funds also recently bought and sold shares of RITM. Price T Rowe Associates Inc. MD increased its holdings in shares of 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 buying an additional 15,098 shares during the last quarter. Cetera Investment Advisers increased its stake in Rithm Capital by 460.3% during the first quarter. Cetera Investment Advisers now owns 265,611 shares of the real estate investment trust’s stock worth $2,964,000 after acquiring an additional 218,206 shares during the last quarter. Cetera Advisors LLC raised its position in Rithm Capital by 16.3% during the first quarter. Cetera Advisors LLC now owns 200,775 shares of the real estate investment trust’s stock valued at $2,241,000 after purchasing an additional 28,212 shares during the period. U.S. Capital Wealth Advisors LLC raised its position in Rithm Capital by 28.3% during the second quarter. U.S. Capital Wealth Advisors LLC now owns 15,282 shares of the real estate investment trust’s stock valued at $167,000 after purchasing an additional 3,367 shares during the period. Finally, HFG Advisors Inc. bought a new stake in shares of Rithm Capital in the 2nd quarter valued at approximately $109,000. Hedge funds and other institutional investors own 44.92% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Royal Bank of Canada restated an “outperform” rating and issued a $13.00 price target on shares of Rithm Capital in a research report on Thursday, November 21st. Wedbush reissued an “outperform” rating and issued a $14.00 target price on shares of Rithm Capital in a research note on Thursday, November 7th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.78.

Rithm Capital Stock Performance

RITM stock opened at $11.25 on Monday. 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 twelve month low of $9.97 and a twelve month high of $12.02. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.63. The business’s fifty day simple moving average is $10.83 and its two-hundred day simple moving average is $11.12.

Rithm Capital (NYSE:RITM) last announced its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.12. The company had revenue of $619.51 million during the quarter, compared to analyst estimates of $1.11 billion. Rithm Capital had a net margin of 14.99% and a return on equity of 17.54%. During the same quarter last year, the business posted $0.58 EPS. Analysts predict that Rithm Capital Corp. will post 1.89 earnings per share for the current year.

Rithm Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Tuesday, October 1st were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 8.89%. The ex-dividend date was Tuesday, October 1st. Rithm Capital’s payout ratio is 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.