Wealth Enhancement Advisory Services LLC Has $2.77 Million Stock Holdings in Rithm Capital Corp. $RITM

Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Rithm Capital Corp. (NYSE:RITM) by 31.0% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 254,916 shares of the real estate investment trust’s stock after buying an additional 60,261 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Rithm Capital were worth $2,773,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Curi Capital LLC grew its stake in Rithm Capital by 0.7% during the 2nd quarter. Curi Capital LLC now owns 120,262 shares of the real estate investment trust’s stock valued at $1,358,000 after acquiring an additional 829 shares in the last quarter. Geneos Wealth Management Inc. grew its position in Rithm Capital by 14.3% during the first quarter. Geneos Wealth Management Inc. now owns 7,031 shares of the real estate investment trust’s stock valued at $81,000 after purchasing an additional 881 shares in the last quarter. GAMMA Investing LLC increased its stake in Rithm Capital by 19.1% in the 2nd quarter. GAMMA Investing LLC now owns 5,528 shares of the real estate investment trust’s stock valued at $62,000 after buying an additional 887 shares during the period. Signaturefd LLC lifted its position in Rithm Capital by 2.3% in the 3rd quarter. Signaturefd LLC now owns 45,012 shares of the real estate investment trust’s stock worth $513,000 after buying an additional 1,009 shares in the last quarter. Finally, Foster Victor Wealth Advisors LLC boosted its stake in shares of Rithm Capital by 2.0% during the 3rd quarter. Foster Victor Wealth Advisors LLC now owns 61,830 shares of the real estate investment trust’s stock valued at $689,000 after buying an additional 1,212 shares during the period. 44.92% of the stock is currently owned by institutional investors and hedge funds.

Rithm Capital Stock Performance

Shares of NYSE RITM opened at $11.91 on Thursday. Rithm Capital Corp. has a 12 month low of $9.13 and a 12 month high of $12.74. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 1.52. The company has a market cap of $6.60 billion, a P/E ratio of 8.21 and a beta of 1.21. The business’s 50 day moving average is $11.31 and its two-hundred day moving average is $11.57.

Rithm Capital (NYSE:RITM) last announced its quarterly earnings data on Thursday, October 30th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.54. The business had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.07 billion. Rithm Capital had a net margin of 17.08% and a return on equity of 18.82%. On average, equities analysts expect that Rithm Capital Corp. will post 1.93 EPS for the current year.

Rithm Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 30th. Stockholders of record on Wednesday, December 31st will be issued a dividend of $0.25 per share. The ex-dividend date is Wednesday, December 31st. This represents a $1.00 annualized dividend and a dividend yield of 8.4%. Rithm Capital’s payout ratio is presently 68.97%.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Jones Trading reaffirmed a “buy” rating and issued a $13.50 target price on shares of Rithm Capital in a research report on Thursday, October 30th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Rithm Capital in a report on Monday, December 29th. Piper Sandler reaffirmed an “overweight” rating and issued a $15.50 price target on shares of Rithm Capital in a research report on Monday, December 22nd. Wedbush began coverage on Rithm Capital in a research note on Monday, December 15th. They issued an “outperform” rating and a $14.00 price objective on the stock. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of Rithm Capital in a research report on Thursday, December 18th. Seven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, Rithm Capital has a consensus rating of “Moderate Buy” and an average price target of $14.71.

Insider Transactions at Rithm Capital

In related news, CEO Michael Nierenberg sold 301,548 shares of the firm’s stock in a transaction on Wednesday, November 5th. The stock was sold at an average price of $11.00, for a total value of $3,317,028.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David Zeiden sold 19,285 shares of the stock in a transaction on Friday, November 14th. The shares were sold at an average price of $11.11, for a total transaction of $214,256.35. Additional details regarding this sale are available in the official SEC disclosure. 0.44% of the stock is currently owned by corporate insiders.

Rithm Capital Company Profile

Rithm Capital Corporation is a specialty finance company that originates, acquires and manages structured credit investments collateralized by real estate assets in the United States. The company focuses primarily on senior floating-rate loans secured by multifamily, commercial, industrial and single-family rental properties, aiming to deliver attractive risk-adjusted yields through a diversified portfolio of floating-rate real estate debt.

In addition to senior loans, Rithm Capital invests in residential mortgage-backed securities, including agency and non-agency pools, as well as other real estate-related credit instruments.