Covestor Ltd Boosts Position in Rithm Capital Corp. (NYSE:RITM)

Covestor Ltd grew its holdings in shares of Rithm Capital Corp. (NYSE:RITM) by 33.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,480 shares of the real estate investment trust’s stock after buying an additional 5,440 shares during the quarter. Covestor Ltd’s holdings in Rithm Capital were worth $244,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. boosted its position in Rithm Capital by 154.4% during 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 purchasing an additional 1,525 shares during the period. Bessemer Group Inc. acquired a new position in shares of Rithm Capital during the first quarter worth about $30,000. Abich Financial Wealth Management LLC boosted its position in shares of Rithm Capital by 56.8% in the first quarter. Abich Financial Wealth Management LLC now owns 4,031 shares of the real estate investment trust’s stock worth $45,000 after buying an additional 1,461 shares during the period. Godsey & Gibb Inc. acquired a new stake in shares of Rithm Capital in the third quarter valued at about $51,000. Finally, Future Financial Wealth Managment LLC purchased a new stake in shares of Rithm Capital during the 3rd quarter valued at about $73,000. Institutional investors and hedge funds own 44.92% of the company’s stock.

Rithm Capital Trading Up 1.0 %

NYSE RITM opened at $10.78 on Friday. The company has a market capitalization of $5.60 billion, a price-to-earnings ratio of 10.89 and a beta of 1.80. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.35 and a quick ratio of 0.49. Rithm Capital Corp. has a 12 month low of $9.68 and a 12 month high of $12.02. The company’s fifty day moving average price is $11.08 and its two-hundred day moving average price is $11.16.

Rithm Capital (NYSE:RITM) last issued its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.54 EPS for the quarter, topping the consensus estimate of $0.42 by $0.12. The business had revenue of $619.51 million for 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 quarter last year, the company posted $0.58 earnings per share. As a group, research analysts predict that Rithm Capital Corp. will post 1.85 earnings per share for the current fiscal year.

Rithm Capital Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on RITM. JMP Securities upped their price target on Rithm Capital from $11.00 to $12.50 and gave the stock a “market outperform” rating in a report on Friday, July 19th. Wedbush reaffirmed an “outperform” rating and set a $14.00 price target on shares of Rithm Capital in a report on Thursday. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $13.00 price objective on shares of Rithm Capital in a report on Tuesday, August 13th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.