Periscope Capital Inc. Takes Position in Rithm Capital Corp. (NYSE:RITM)

Periscope Capital Inc. bought a new position in shares of Rithm Capital Corp. (NYSE:RITM) during the 3rd quarter, Holdings Channel reports. The institutional investor bought 10,000 shares of the real estate investment trust’s stock, valued at approximately $114,000.

Several other large investors have also recently bought and sold shares of RITM. Alpha DNA Investment Management LLC increased its holdings in Rithm Capital by 13.7% during the third quarter. Alpha DNA Investment Management LLC now owns 34,704 shares of the real estate investment trust’s stock worth $394,000 after buying an additional 4,186 shares during the last quarter. Larson Financial Group LLC increased its stake in shares of Rithm Capital by 5.7% during the 3rd quarter. Larson Financial Group LLC now owns 146,112 shares of the real estate investment trust’s stock worth $1,658,000 after purchasing an additional 7,830 shares during the last quarter. Penserra Capital Management LLC raised its holdings in shares of Rithm Capital by 17.3% in the 3rd quarter. Penserra Capital Management LLC now owns 135,365 shares of the real estate investment trust’s stock valued at $1,536,000 after purchasing an additional 19,970 shares during the period. WESPAC Advisors LLC lifted its stake in Rithm Capital by 7.0% in the 3rd quarter. WESPAC Advisors LLC now owns 84,386 shares of the real estate investment trust’s stock valued at $958,000 after purchasing an additional 5,502 shares during the last quarter. Finally, Cerity Partners LLC grew its holdings in 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 period. 44.92% of the stock is owned by institutional investors and hedge funds.

Rithm Capital Stock Performance

NYSE:RITM opened at $10.98 on Friday. The stock has a 50 day simple moving average of $10.90 and a 200 day simple moving average of $11.13. The stock has a market cap of $5.71 billion, a P/E ratio of 11.09 and a beta of 1.80. Rithm Capital Corp. has a 1-year low of $9.97 and a 1-year high of $12.02. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.63.

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, topping analysts’ consensus estimates of $0.42 by $0.12. Rithm Capital had a return on equity of 17.54% and a net margin of 14.99%. The company had revenue of $619.51 million during the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter last year, the firm earned $0.58 earnings per share. Research 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 announced 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 dividend on an annualized basis and a dividend yield of 9.11%. Rithm Capital’s payout ratio is presently 101.01%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $13.00 price objective on shares of Rithm Capital in a research report on Thursday. Wedbush reaffirmed an “outperform” rating and set a $14.00 price target on shares of Rithm Capital in a 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, the company currently has an average rating of “Moderate Buy” and an average price target of $12.78.

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.