Rithm Capital Corp. (NYSE:RITM) Stock Position Raised by Covestor Ltd

Covestor Ltd increased its holdings in shares of Rithm Capital Corp. (NYSE:RITM) by 33.9% during the 3rd quarter, Holdings Channel.com reports. The fund owned 21,480 shares of the real estate investment trust’s stock after buying an additional 5,440 shares during the period. Covestor Ltd’s holdings in Rithm Capital were worth $244,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of RITM. AQR Capital Management LLC boosted its position in Rithm Capital by 4.1% during the 2nd quarter. AQR Capital Management LLC now owns 29,848 shares of the real estate investment trust’s stock valued at $326,000 after purchasing an additional 1,183 shares during the period. Founders Financial Alliance LLC lifted its stake in Rithm Capital by 2.6% in the second quarter. Founders Financial Alliance LLC now owns 50,942 shares of the real estate investment trust’s stock valued at $556,000 after buying an additional 1,286 shares during the last quarter. Abich Financial Wealth Management LLC boosted its holdings in shares of Rithm Capital by 56.8% during the first quarter. Abich Financial Wealth Management LLC now owns 4,031 shares of the real estate investment trust’s stock valued at $45,000 after acquiring an additional 1,461 shares during the period. Atomi Financial Group Inc. grew its position in shares of Rithm Capital by 6.4% during the third quarter. Atomi Financial Group Inc. now owns 24,711 shares of the real estate investment trust’s stock worth $280,000 after acquiring an additional 1,481 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in shares of Rithm Capital by 154.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,513 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 1,525 shares during the period. Institutional investors own 44.92% of the company’s stock.

Rithm Capital Trading Up 1.0 %

Rithm Capital stock opened at $10.78 on Friday. Rithm Capital Corp. has a 12-month low of $9.68 and a 12-month high of $12.02. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.35 and a quick ratio of 0.49. The stock has a market capitalization of $5.60 billion, a PE ratio of 10.89 and a beta of 1.80. The firm has a 50 day simple moving average of $11.08 and a 200-day simple moving average of $11.16.

Rithm Capital (NYSE:RITM) last issued its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.12. Rithm Capital had a return on equity of 17.54% and a net margin of 14.99%. The firm had revenue of $619.51 million during the quarter, compared to analyst estimates of $1.11 billion. During the same period last year, the company posted $0.58 EPS. As a group, equities research analysts expect that Rithm Capital Corp. will post 1.85 EPS for the current fiscal year.

Rithm Capital Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Tuesday, October 1st were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 9.28%. The ex-dividend date of this dividend was Tuesday, October 1st. Rithm Capital’s payout ratio is currently 101.01%.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $13.00 target price on shares of Rithm Capital in a research note on Tuesday, August 13th. Wedbush reiterated an “outperform” rating and set a $14.00 price objective on shares of Rithm Capital in a research report on Thursday. Finally, JMP Securities increased their price objective on Rithm Capital from $11.00 to $12.50 and gave the stock a “market outperform” rating in a report on Friday, July 19th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $12.78.

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.