84,645 Shares in Rithm Capital Corp. (NYSE:RITM) Acquired by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC bought a new stake in Rithm Capital Corp. (NYSE:RITM) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 84,645 shares of the real estate investment trust’s stock, valued at approximately $961,000.

Several other large investors also recently added to or reduced their stakes in RITM. Norden Group LLC acquired a new position in shares of Rithm Capital during the 1st quarter valued at about $156,000. Duality Advisers LP bought a new position in shares of Rithm Capital in the first quarter valued at approximately $398,000. Empowered Funds LLC acquired a new stake in shares of Rithm Capital in the first quarter worth $136,000. Highland Capital Management LLC boosted its holdings in shares of Rithm Capital by 191.0% during the 1st quarter. Highland Capital Management LLC now owns 61,878 shares of the real estate investment trust’s stock worth $691,000 after buying an additional 40,617 shares during the period. Finally, NTV Asset Management LLC grew its stake in Rithm Capital by 7.3% in the 1st quarter. NTV Asset Management LLC now owns 44,190 shares of the real estate investment trust’s stock valued at $493,000 after buying an additional 3,000 shares during the last quarter. 44.92% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on RITM shares. Royal Bank of Canada restated an “outperform” rating and set a $13.00 price target on shares of Rithm Capital in a report on Tuesday, August 13th. Wedbush reaffirmed an “outperform” rating and issued a $14.00 target price on shares of Rithm Capital in a report on Thursday. Finally, JMP Securities upped their price target on Rithm Capital from $11.00 to $12.50 and gave the stock a “market outperform” rating in a report on Friday, July 19th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $12.78.

Rithm Capital Price Performance

Shares of NYSE:RITM opened at $10.78 on Friday. The firm has a market capitalization of $5.60 billion, a PE ratio of 10.89 and a beta of 1.80. The company has a current ratio of 1.35, a quick ratio of 0.49 and a debt-to-equity ratio of 1.63. Rithm Capital Corp. has a 1-year low of $9.68 and a 1-year high of $12.02. The business’s 50 day moving average is $11.08 and its 200-day moving average is $11.16.

Rithm Capital (NYSE:RITM) last announced its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.12. The firm had revenue of $619.51 million for 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 firm posted $0.58 EPS. Sell-side analysts predict that Rithm Capital Corp. will post 1.85 earnings per share for the current year.

Rithm Capital Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Tuesday, October 1st were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 9.28%. The ex-dividend date was Tuesday, October 1st. Rithm Capital’s dividend payout ratio 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.