Rithm Capital Corp. (NYSE:RITM) Shares Purchased by HighTower Advisors LLC

HighTower Advisors LLC raised its position in Rithm Capital Corp. (NYSE:RITM) by 9.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 230,755 shares of the real estate investment trust’s stock after purchasing an additional 20,802 shares during the quarter. HighTower Advisors LLC’s holdings in Rithm Capital were worth $2,616,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in RITM. Beck Capital Management LLC raised its stake in shares of Rithm Capital by 2.5% during the third quarter. Beck Capital Management LLC now owns 223,918 shares of the real estate investment trust’s stock valued at $2,541,000 after purchasing an additional 5,545 shares in the last quarter. Azora Capital LP grew its holdings in Rithm Capital by 107.6% during the third quarter. Azora Capital LP now owns 4,383,821 shares of the real estate investment trust’s stock worth $49,756,000 after acquiring an additional 2,271,671 shares during the period. Verition Fund Management LLC bought a new stake in Rithm Capital in the third quarter worth about $203,000. Walleye Capital LLC acquired a new stake in Rithm Capital in the 3rd quarter valued at about $1,827,000. Finally, Infrastructure Capital Advisors LLC bought a new position in shares of Rithm Capital during the 3rd quarter valued at about $205,000. Institutional investors own 44.92% of the company’s stock.

Rithm Capital Price Performance

NYSE RITM opened at $11.12 on Friday. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.35 and a quick ratio of 1.35. The firm has a market capitalization of $5.78 billion, a price-to-earnings ratio of 11.23 and a beta of 1.80. The company has a 50 day simple moving average of $10.82 and a 200-day simple moving average of $11.12. Rithm Capital Corp. has a 52-week low of $9.97 and a 52-week high of $12.02.

Rithm Capital (NYSE:RITM) last released its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.12. Rithm Capital had a net margin of 14.99% and a return on equity of 17.54%. The company had revenue of $619.51 million during the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the prior year, the firm earned $0.58 EPS. Equities research analysts predict that Rithm Capital Corp. will post 1.93 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. Investors of record on Tuesday, October 1st were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $1.00 dividend on an annualized basis and a yield of 8.99%. Rithm Capital’s payout ratio is 101.01%.

Analysts Set New Price Targets

Several analysts recently commented on RITM shares. Keefe, Bruyette & Woods increased their target price on shares of Rithm Capital from $13.00 to $13.50 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. Wedbush restated an “outperform” rating and set a $14.00 price target on shares of Rithm Capital in a report on Thursday, November 7th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $13.00 price objective on shares of Rithm Capital in a research note on Thursday, November 21st. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $12.94.

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.