SMH Capital Advisors Inc. Purchases New Position in Rithm Capital Corp. (NYSE:RITM)

SMH Capital Advisors Inc. purchased a new stake in shares of Rithm Capital Corp. (NYSE:RITM) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 34,968 shares of the real estate investment trust’s stock, valued at approximately $382,000. Rithm Capital makes up 1.2% of SMH Capital Advisors Inc.’s portfolio, making the stock its 17th biggest position.

A number of other institutional investors and hedge funds have also made changes to their positions in RITM. Bessemer Group Inc. purchased a new stake in shares of Rithm Capital in the first quarter valued at approximately $30,000. Raleigh Capital Management Inc. boosted its stake in Rithm Capital by 125.4% during the fourth quarter. Raleigh Capital Management Inc. now owns 2,986 shares of the real estate investment trust’s stock worth $32,000 after buying an additional 1,661 shares during the last quarter. Abich Financial Wealth Management LLC boosted its stake 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 last quarter. Fidelis Capital Partners LLC acquired a new position in shares of Rithm Capital in the 1st quarter valued at $62,000. Finally, Cape Investment Advisory Inc. acquired a new position in shares of Rithm Capital in the 4th quarter valued at $71,000. 44.92% of the stock is currently owned by hedge funds and other institutional investors.

Rithm Capital Stock Performance

Shares of NYSE RITM opened at $11.81 on Thursday. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 1.81. The stock has a 50 day simple moving average of $11.46 and a 200-day simple moving average of $11.18. The company has a market cap of $5.71 billion, a PE ratio of 7.87 and a beta of 1.80. Rithm Capital Corp. has a 12-month low of $8.87 and a 12-month high of $11.99.

Rithm Capital (NYSE:RITM) last released its earnings results on Wednesday, July 31st. The real estate investment trust reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.05. The firm had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.15 billion. Rithm Capital had a return on equity of 18.04% and a net margin of 15.55%. The firm’s revenue for the quarter was up 18.4% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.62 earnings per share. On average, equities research analysts forecast that Rithm Capital Corp. will post 1.82 EPS for the current year.

Analyst Upgrades and Downgrades

RITM has been the topic of several research reports. JMP Securities increased their target price 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. Royal Bank of Canada reiterated an “outperform” rating and issued a $13.00 price objective on shares of Rithm Capital in a report on Tuesday, August 13th. Finally, Wedbush restated an “outperform” rating and set a $13.00 target price on shares of Rithm Capital in a research report on Friday, August 16th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $12.60.

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.