Entropy Technologies LP Boosts Stake in Rithm Capital Corp. (NYSE:RITM)

Entropy Technologies LP boosted its holdings in Rithm Capital Corp. (NYSE:RITM) by 139.9% in the 3rd quarter, HoldingsChannel reports. The fund owned 81,279 shares of the real estate investment trust’s stock after acquiring an additional 47,400 shares during the quarter. Entropy Technologies LP’s holdings in Rithm Capital were worth $923,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. grew its stake in shares of Rithm Capital by 154.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,513 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 1,525 shares during the period. Bessemer Group Inc. purchased a new stake in Rithm Capital during the first quarter worth about $30,000. Abich Financial Wealth Management LLC grew its position in Rithm Capital by 56.8% during 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 buying an additional 1,461 shares during the period. Godsey & Gibb Inc. purchased a new position in Rithm Capital in the third quarter valued at about $51,000. Finally, Future Financial Wealth Managment LLC acquired a new stake in shares of Rithm Capital during the 3rd quarter valued at approximately $73,000. Institutional investors and hedge funds own 44.92% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on RITM. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $13.00 price objective on shares of Rithm Capital in a research note on Tuesday, August 13th. JMP Securities lifted their price target on Rithm Capital from $11.00 to $12.50 and gave the stock a “market outperform” rating in a research note on Friday, July 19th. Finally, Wedbush reiterated an “outperform” rating and issued a $14.00 price objective on shares of Rithm Capital in a research report on Thursday, November 7th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, Rithm Capital presently has an average rating of “Moderate Buy” and a consensus price target of $12.78.

Rithm Capital Trading Up 0.1 %

Shares of RITM stock opened at $10.74 on Thursday. The company has a market capitalization of $5.58 billion, a price-to-earnings ratio of 10.85 and a beta of 1.80. 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 50-day moving average price of $11.02 and a 200 day moving average price of $11.16. Rithm Capital Corp. has a twelve month low of $9.92 and a twelve month high of $12.02.

Rithm Capital (NYSE:RITM) last posted 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 business had revenue of $619.51 million during 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 quarter in the previous year, the business posted $0.58 earnings per share. Research analysts forecast that Rithm Capital Corp. will post 1.89 earnings per share for the current fiscal year.

Rithm Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Tuesday, October 1st were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 9.31%. The ex-dividend date was Tuesday, October 1st. Rithm Capital’s dividend payout ratio (DPR) is 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.