Rithm Capital Corp. (NYSE:RITM) Shares Purchased by Seelaus Asset Management LLC

Seelaus Asset Management LLC increased its stake in Rithm Capital Corp. (NYSE:RITM) by 6.9% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 36,979 shares of the real estate investment trust’s stock after acquiring an additional 2,377 shares during the quarter. Seelaus Asset Management LLC’s holdings in Rithm Capital were worth $420,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of RITM. Northwestern Mutual Wealth Management Co. raised its position in Rithm Capital by 154.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,513 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 1,525 shares during the period. Bessemer Group Inc. bought a new position in shares of Rithm Capital during the 1st quarter valued at $30,000. Abich Financial Wealth Management LLC boosted its holdings in 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 purchasing an additional 1,461 shares in the last quarter. Godsey & Gibb Inc. acquired a new position in Rithm Capital during the third quarter worth $51,000. Finally, Future Financial Wealth Managment LLC bought a new position in Rithm Capital during the third quarter valued at about $73,000. 44.92% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

RITM has been the topic of a number of recent analyst reports. Royal Bank of Canada reissued an “outperform” rating and issued a $13.00 price objective on shares of Rithm Capital in a research note on Tuesday, August 13th. Wedbush reaffirmed an “outperform” rating and set a $14.00 price objective on shares of Rithm Capital in a report on Thursday, November 7th. Finally, JMP Securities lifted their target price on shares of 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 assigned a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.78.

Rithm Capital Trading Down 0.5 %

Shares of Rithm Capital stock opened at $10.73 on Friday. The company’s fifty day moving average price is $10.99 and its two-hundred day moving average price is $11.15. The firm has a market capitalization of $5.58 billion, a PE ratio of 10.84 and a beta of 1.80. Rithm Capital Corp. has a 52-week low of $9.94 and a 52-week 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 1.35.

Rithm Capital (NYSE:RITM) last released 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 for the quarter, compared to the consensus estimate 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 previous year, the business earned $0.58 earnings per share. On average, analysts expect that Rithm Capital Corp. will post 1.89 EPS for the current year.

Rithm Capital Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.32%. Rithm Capital’s payout ratio is presently 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.