Exchange Traded Concepts LLC Purchases 58,356 Shares of Rithm Capital Corp. (NYSE:RITM)

Exchange Traded Concepts LLC increased its holdings in Rithm Capital Corp. (NYSE:RITM) by 31.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 244,796 shares of the real estate investment trust’s stock after purchasing an additional 58,356 shares during the quarter. Exchange Traded Concepts LLC’s holdings in Rithm Capital were worth $2,778,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the business. Chicago Partners Investment Group LLC grew its position in shares of Rithm Capital by 36.7% in the 4th quarter. Chicago Partners Investment Group LLC now owns 38,132 shares of the real estate investment trust’s stock worth $418,000 after buying an additional 10,236 shares during the last quarter. Virtu Financial LLC purchased a new stake in Rithm Capital in the fourth quarter worth $524,000. Wellington Management Group LLP boosted its holdings in Rithm Capital by 3.9% in the fourth quarter. Wellington Management Group LLP now owns 2,106,184 shares of the real estate investment trust’s stock valued at $22,494,000 after acquiring an additional 78,838 shares in the last quarter. B. Riley Wealth Advisors Inc. increased its position in Rithm Capital by 12.2% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 30,732 shares of the real estate investment trust’s stock valued at $336,000 after purchasing an additional 3,337 shares during the period. Finally, Kapitalo Investimentos Ltda bought a new position in Rithm Capital in the 4th quarter worth $134,000. Hedge funds and other institutional investors own 44.92% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on RITM shares. Royal Bank of Canada reissued an “outperform” rating and issued a $13.00 price target on shares of Rithm Capital in a research note on Tuesday, August 13th. JMP Securities increased their target price on Rithm Capital from $11.00 to $12.50 and gave the stock a “market outperform” rating in a research report on Friday, July 19th. Finally, Wedbush restated an “outperform” rating and set a $13.00 price target on shares of Rithm Capital in a research report on Friday, August 16th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $12.67.

Rithm Capital Price Performance

NYSE RITM opened at $10.77 on Tuesday. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.49 and a quick ratio of 0.49. Rithm Capital Corp. has a 1-year low of $8.87 and a 1-year high of $12.02. The stock has a market capitalization of $5.20 billion, a price-to-earnings ratio of 7.18 and a beta of 1.80. The business’s fifty day moving average price is $11.36 and its 200-day moving average price is $11.19.

Rithm Capital (NYSE:RITM) last released its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.05. The business had revenue of $1.23 billion for the quarter, compared to the consensus estimate of $1.15 billion. Rithm Capital had a net margin of 15.55% and a return on equity of 18.04%. The company’s quarterly revenue was up 18.4% on a year-over-year basis. During the same period last year, the firm earned $0.62 earnings per share. On average, equities analysts predict that Rithm Capital Corp. will post 1.82 earnings per share for the current year.

Rithm Capital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Tuesday, October 1st will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 9.29%. The ex-dividend date is Tuesday, October 1st. Rithm Capital’s payout ratio is 66.67%.

Rithm Capital Company 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.