Penserra Capital Management LLC Has $1.54 Million Stake in Rithm Capital Corp. (NYSE:RITM)

Penserra Capital Management LLC lifted its position in shares of Rithm Capital Corp. (NYSE:RITM) by 17.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 135,365 shares of the real estate investment trust’s stock after buying an additional 19,970 shares during the period. Penserra Capital Management LLC’s holdings in Rithm Capital were worth $1,536,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Russell Investments Group Ltd. grew its stake in shares of Rithm Capital by 196.3% during the 1st quarter. Russell Investments Group Ltd. now owns 26,182 shares of the real estate investment trust’s stock worth $293,000 after acquiring an additional 17,345 shares in the last quarter. Bessemer Group Inc. bought a new position in Rithm Capital in the first quarter valued at $30,000. Price T Rowe Associates Inc. MD increased its stake in Rithm Capital by 7.2% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 225,902 shares of the real estate investment trust’s stock valued at $2,522,000 after buying an additional 15,098 shares during the last quarter. Bayesian Capital Management LP bought a new stake in Rithm Capital during the 1st quarter worth about $723,000. Finally, Plato Investment Management Ltd acquired a new position in shares of Rithm Capital during the 1st quarter worth about $170,000. 44.92% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on RITM. Wedbush reaffirmed an “outperform” rating and issued a $14.00 target price on shares of Rithm Capital in a research report on Thursday, November 7th. Royal Bank of Canada reiterated an “outperform” rating and set a $13.00 price objective on shares of Rithm Capital in a research note 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 stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $12.78.

Rithm Capital Stock Down 0.2 %

RITM stock opened at $11.13 on Wednesday. Rithm Capital Corp. has a 1-year low of $9.97 and a 1-year high of $12.02. The business’s 50 day simple moving average is $10.89 and its 200 day simple moving average is $11.13. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.63. The firm has a market capitalization of $5.78 billion, a PE ratio of 11.24 and a beta of 1.80.

Rithm Capital (NYSE:RITM) last released its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.54 EPS for the quarter, beating the consensus estimate of $0.42 by $0.12. The firm had revenue of $619.51 million for the quarter, compared to the consensus estimate of $1.11 billion. Rithm Capital had a net margin of 14.99% and a return on equity of 17.54%. During the same period in the previous year, the company earned $0.58 earnings per share. As a group, research analysts anticipate that Rithm Capital Corp. will post 1.89 EPS for the current year.

Rithm Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Tuesday, October 1st were given a dividend of $0.25 per share. The ex-dividend date was Tuesday, October 1st. This represents a $1.00 annualized dividend and a yield of 8.98%. Rithm Capital’s dividend payout ratio (DPR) is presently 101.01%.

About Rithm Capital

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.