Rithm Capital Corp. (NYSE:RITM) Shares Acquired by WESPAC Advisors LLC

WESPAC Advisors LLC boosted its holdings in Rithm Capital Corp. (NYSE:RITM) by 7.0% in the third quarter, HoldingsChannel.com reports. The firm owned 84,386 shares of the real estate investment trust’s stock after buying an additional 5,502 shares during the quarter. WESPAC Advisors LLC’s holdings in Rithm Capital were worth $958,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in RITM. Cerity Partners LLC grew its holdings in shares of Rithm Capital by 2.1% during the third quarter. Cerity Partners LLC now owns 72,434 shares of the real estate investment trust’s stock worth $822,000 after purchasing an additional 1,508 shares during the last quarter. Nwam LLC acquired a new stake in shares of Rithm Capital in the 3rd quarter valued at about $1,076,000. Raymond James Trust N.A. grew its stake in Rithm Capital by 25.3% during the 3rd quarter. Raymond James Trust N.A. now owns 22,621 shares of the real estate investment trust’s stock worth $257,000 after buying an additional 4,567 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in Rithm Capital by 7.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,364,962 shares of the real estate investment trust’s stock worth $60,892,000 after buying an additional 366,600 shares during the period. Finally, Moran Wealth Management LLC purchased a new stake in Rithm Capital in the third quarter valued at approximately $266,000. 44.92% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Rithm Capital Stock Up 1.8 %

Shares of Rithm Capital stock opened at $10.98 on Friday. Rithm Capital Corp. has a one year low of $9.97 and a one year high of $12.02. The company has a market cap of $5.71 billion, a P/E ratio of 11.09 and a beta of 1.80. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.35 and a current ratio of 1.35. The firm has a fifty day moving average of $10.90 and a two-hundred day moving average of $11.13.

Rithm Capital (NYSE:RITM) last posted its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.12. Rithm Capital had a net margin of 14.99% and a return on equity of 17.54%. The firm had revenue of $619.51 million during the quarter, compared to analysts’ expectations of $1.11 billion. During the same period in the prior year, the company posted $0.58 earnings per share. On average, analysts forecast that Rithm Capital Corp. will post 1.89 earnings per share for the current year.

Rithm Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Tuesday, October 1st were paid a $0.25 dividend. The ex-dividend date was Tuesday, October 1st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.11%. Rithm Capital’s dividend payout ratio (DPR) is presently 101.01%.

Rithm Capital Company 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.