Rithm Capital Corp. (NYSE:RITM) Shares Purchased by Cerity Partners LLC

Cerity Partners LLC raised its stake in Rithm Capital Corp. (NYSE:RITM) by 2.1% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 72,434 shares of the real estate investment trust’s stock after acquiring an additional 1,508 shares during the quarter. Cerity Partners LLC’s holdings in Rithm Capital were worth $822,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in RITM. Charles Schwab Investment Management Inc. boosted its holdings in shares of 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 purchasing an additional 366,600 shares during the last quarter. Van ECK Associates Corp boosted its stake in Rithm Capital by 20.7% in the 3rd quarter. Van ECK Associates Corp now owns 2,004,057 shares of the real estate investment trust’s stock worth $21,163,000 after buying an additional 343,678 shares during the last quarter. Waterfall Asset Management LLC purchased a new stake in Rithm Capital in the 2nd quarter valued at about $2,209,000. SG Americas Securities LLC acquired a new position in shares of Rithm Capital during the 3rd quarter valued at about $4,112,000. Finally, Squarepoint Ops LLC purchased a new position in shares of Rithm Capital during the 2nd quarter worth about $774,000. 44.92% of the stock is currently owned by hedge funds and other institutional investors.

Rithm Capital Stock Down 0.4 %

Shares of Rithm Capital stock opened at $11.11 on Friday. The company has a fifty day moving average price of $10.80 and a 200 day moving average price of $11.12. 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 Corp. has a twelve month low of $9.97 and a twelve month high of $12.02. The stock has a market cap of $5.77 billion, a price-to-earnings ratio of 11.22 and a beta of 1.80.

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

Rithm Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Tuesday, October 1st were paid 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 9.00%. Rithm Capital’s dividend payout ratio is currently 101.01%.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on RITM. Keefe, Bruyette & Woods boosted their target price on shares of Rithm Capital from $13.00 to $13.50 and gave the company an “outperform” rating in a report on Tuesday. Royal Bank of Canada reissued an “outperform” rating and set a $13.00 price objective on shares of Rithm Capital in a research note on Thursday, November 21st. Finally, Wedbush restated an “outperform” rating and set a $14.00 price objective 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 assigned a buy rating to the stock. According to data from MarketBeat.com, Rithm Capital presently has a consensus rating of “Moderate Buy” and an average price target of $12.89.

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.