Edgestream Partners L.P. Trims Position in Rithm Capital Corp. (NYSE:RITM)

Edgestream Partners L.P. lowered its stake in shares of Rithm Capital Corp. (NYSE:RITM) by 55.3% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 207,963 shares of the real estate investment trust’s stock after selling 257,269 shares during the period. Edgestream Partners L.P.’s holdings in Rithm Capital were worth $2,360,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in RITM. Charles Schwab Investment Management Inc. raised its position in Rithm Capital by 7.3% during the 3rd 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 last quarter. Van ECK Associates Corp raised its holdings in Rithm Capital by 20.7% during the third 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 in the last quarter. Waterfall Asset Management LLC acquired a new stake in Rithm Capital in the second quarter valued at about $2,209,000. SG Americas Securities LLC acquired a new stake in Rithm Capital in the third quarter valued at about $4,112,000. Finally, Squarepoint Ops LLC purchased a new stake in Rithm Capital in the 2nd quarter valued at approximately $774,000. Institutional investors and hedge funds own 44.92% of the company’s stock.

Analysts Set New Price Targets

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

Rithm Capital Stock Performance

RITM opened at $11.20 on Tuesday. The stock’s 50 day simple moving average is $10.82 and its 200 day simple moving average is $11.12. The stock has a market cap of $5.82 billion, a P/E ratio of 11.31 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 debt-to-equity ratio of 1.63, a current ratio of 1.35 and a quick ratio of 1.35.

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. 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 for the quarter, compared to analyst estimates of $1.11 billion. During the same quarter in the prior year, the company earned $0.58 earnings per share. As a group, equities analysts anticipate that Rithm Capital Corp. will post 1.89 EPS for the current fiscal year.

Rithm Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Tuesday, October 1st were issued a dividend of $0.25 per share. The ex-dividend date was Tuesday, October 1st. This represents a $1.00 annualized dividend and a yield of 8.93%. Rithm Capital’s dividend payout ratio (DPR) is currently 101.01%.

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.