Rithm Capital Corp. (NYSE:RITM) Shares Purchased by Advisors Asset Management Inc.

Advisors Asset Management Inc. boosted its stake in shares of Rithm Capital Corp. (NYSE:RITM) by 2.3% in the third quarter, HoldingsChannel.com reports. The fund owned 119,344 shares of the real estate investment trust’s stock after purchasing an additional 2,654 shares during the period. Advisors Asset Management Inc.’s holdings in Rithm Capital were worth $1,355,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Van ECK Associates Corp raised its position in shares of Rithm Capital by 20.7% during the 3rd quarter. Van ECK Associates Corp now owns 2,004,057 shares of the real estate investment trust’s stock worth $21,163,000 after purchasing an additional 343,678 shares during the last quarter. Waterfall Asset Management LLC purchased a new stake in Rithm Capital during the 2nd quarter worth approximately $2,209,000. SG Americas Securities LLC purchased a new position in shares of Rithm Capital in the third quarter valued at approximately $4,112,000. Squarepoint Ops LLC acquired a new stake in shares of Rithm Capital in the second quarter worth approximately $774,000. Finally, Cetera Investment Advisers increased its position in shares of Rithm Capital by 460.3% during the first quarter. Cetera Investment Advisers now owns 265,611 shares of the real estate investment trust’s stock worth $2,964,000 after purchasing an additional 218,206 shares in the last quarter. 44.92% of the stock is owned by hedge funds and other institutional investors.

Rithm Capital Stock Up 1.5 %

NYSE RITM opened at $11.15 on Tuesday. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.63. Rithm Capital Corp. has a 52 week low of $9.97 and a 52 week high of $12.02. The business’s fifty day simple moving average is $10.90 and its 200-day simple moving average is $11.13. The firm has a market cap of $5.80 billion, a PE ratio of 11.26 and a beta of 1.80.

Rithm Capital (NYSE:RITM) last posted its earnings results 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 company had revenue of $619.51 million for the quarter, compared to analyst estimates 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 business posted $0.58 EPS. As a group, equities analysts anticipate that Rithm Capital Corp. will post 1.89 earnings per share for the current year.

Rithm Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Tuesday, October 1st were given a $0.25 dividend. The ex-dividend date was Tuesday, October 1st. This represents a $1.00 annualized dividend and a yield of 8.97%. Rithm Capital’s payout ratio is 101.01%.

Analysts Set New Price Targets

A number of research analysts have weighed in on RITM shares. Wedbush restated an “outperform” rating and issued a $14.00 price objective on shares of Rithm Capital in a report on Thursday, November 7th. Royal Bank of Canada reissued an “outperform” rating and issued a $13.00 price target on shares of Rithm Capital in a research note on Thursday, November 21st. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $12.78.

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.