Checchi Capital Advisers LLC Invests $186,000 in Rithm Capital Corp. $RITM

Checchi Capital Advisers LLC purchased a new position in shares of Rithm Capital Corp. (NYSE:RITM) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 16,431 shares of the real estate investment trust’s stock, valued at approximately $186,000.

A number of other hedge funds also recently modified their holdings of the business. Elevate Capital Advisors LLC acquired a new position in Rithm Capital in the second quarter valued at $121,000. QRG Capital Management Inc. lifted its holdings in Rithm Capital by 11.4% in the second quarter. QRG Capital Management Inc. now owns 237,221 shares of the real estate investment trust’s stock valued at $2,678,000 after buying an additional 24,251 shares during the period. Ameritas Advisory Services LLC acquired a new position in Rithm Capital in the second quarter valued at $43,000. Sullivan Wood Capital Management LLC acquired a new position in Rithm Capital in the second quarter valued at $1,530,000. Finally, Consolidated Portfolio Review Corp lifted its holdings in Rithm Capital by 6.8% in the second quarter. Consolidated Portfolio Review Corp now owns 118,508 shares of the real estate investment trust’s stock valued at $1,338,000 after buying an additional 7,506 shares during the period. Institutional investors and hedge funds own 44.92% of the company’s stock.

Rithm Capital Trading Down 0.3%

NYSE:RITM opened at $10.87 on Wednesday. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.40 and a quick ratio of 0.40. The firm has a 50-day moving average of $12.10 and a 200-day moving average of $11.53. The company has a market cap of $5.76 billion, a PE ratio of 8.36 and a beta of 1.31. Rithm Capital Corp. has a one year low of $9.13 and a one year high of $12.74.

Rithm Capital (NYSE:RITM) last posted its earnings results on Monday, July 28th. The real estate investment trust reported $0.54 EPS for the quarter, topping the consensus estimate of $0.51 by $0.03. The company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.18 billion. Rithm Capital had a net margin of 16.72% and a return on equity of 18.89%. As a group, equities research analysts expect that Rithm Capital Corp. will post 1.93 EPS for the current fiscal year.

Rithm Capital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Wednesday, October 1st will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $1.00 annualized dividend and a dividend yield of 9.2%. Rithm Capital’s payout ratio is presently 76.92%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on RITM. Wedbush restated an “outperform” rating and issued a $14.00 target price on shares of Rithm Capital in a report on Wednesday, August 6th. Royal Bank Of Canada boosted their target price on shares of Rithm Capital from $13.00 to $14.00 and gave the company an “outperform” rating in a report on Friday, August 1st. BTIG Research restated a “buy” rating and issued a $16.00 target price on shares of Rithm Capital in a report on Wednesday, September 17th. UBS Group lifted their price target on shares of Rithm Capital from $14.00 to $16.00 and gave the company a “buy” rating in a research note on Wednesday, September 3rd. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Rithm Capital in a research note on Saturday, September 27th. One analyst has rated the stock with a Strong Buy rating and nine have given a Buy rating to the company’s stock. According to data from MarketBeat.com, Rithm Capital currently has a consensus rating of “Buy” and an average price target of $14.25.

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.