Waterfall Asset Management LLC Has $568,000 Position in Rithm Capital Corp. (NYSE:RITM)

Waterfall Asset Management LLC lowered its position in Rithm Capital Corp. (NYSE:RITM) by 75.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 50,000 shares of the real estate investment trust’s stock after selling 152,500 shares during the period. Rithm Capital accounts for about 0.1% of Waterfall Asset Management LLC’s holdings, making the stock its 5th biggest position. Waterfall Asset Management LLC’s holdings in Rithm Capital were worth $568,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Seven Grand Managers LLC acquired a new position in shares of Rithm Capital during the third quarter worth approximately $11,918,000. LMR Partners LLP bought a new stake in Rithm Capital during the 3rd quarter valued at $7,378,000. Charles Schwab Investment Management Inc. raised its holdings in Rithm Capital by 7.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,364,962 shares of the real estate investment trust’s stock worth $60,892,000 after buying an additional 366,600 shares during the last quarter. SG Americas Securities LLC bought a new position in shares of Rithm Capital in the third quarter valued at $4,112,000. Finally, Van ECK Associates Corp grew its holdings in shares of Rithm Capital by 20.7% during the third quarter. Van ECK Associates Corp now owns 2,004,057 shares of the real estate investment trust’s stock valued at $21,163,000 after buying an additional 343,678 shares during the last quarter. Institutional investors and hedge funds own 44.92% of the company’s stock.

Rithm Capital Stock Performance

RITM stock traded up $0.13 during mid-day trading on Wednesday, hitting $11.26. The company had a trading volume of 250,565 shares, compared to its average volume of 3,524,833. Rithm Capital Corp. has a 12 month low of $9.97 and a 12 month high of $12.02. The stock’s fifty day moving average price is $10.87 and its two-hundred day moving average price is $11.13. The firm has a market cap of $5.85 billion, a PE ratio of 11.24 and a beta of 1.80. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.35 and a current ratio of 1.35.

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 the consensus estimate of $0.42 by $0.12. The business had revenue of $619.51 million during the quarter, compared to analyst estimates of $1.11 billion. Rithm Capital had a return on equity of 17.54% and a net margin of 14.99%. During the same period in the prior year, the company earned $0.58 earnings per share. On average, analysts forecast that Rithm Capital Corp. will post 1.89 earnings per share for the current fiscal year.

Rithm Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Tuesday, October 1st were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 8.88%. The ex-dividend date was Tuesday, October 1st. Rithm Capital’s dividend payout ratio is currently 101.01%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Wedbush reaffirmed an “outperform” rating and issued a $14.00 price target on shares of Rithm Capital in a research report on Thursday, November 7th. Royal Bank of Canada restated an “outperform” rating and issued a $13.00 target price 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 issued a buy rating to the company. According to MarketBeat, the company currently 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.