Rithm Capital Corp. $RITM Shares Bought by Advisors Capital Management LLC

Advisors Capital Management LLC increased its position in Rithm Capital Corp. (NYSE:RITM) by 4.2% during the third quarter, Holdings Channel reports. The fund owned 1,219,318 shares of the real estate investment trust’s stock after purchasing an additional 49,022 shares during the quarter. Advisors Capital Management LLC’s holdings in Rithm Capital were worth $13,888,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. AQR Capital Management LLC boosted its position in shares of Rithm Capital by 20.4% during the first quarter. AQR Capital Management LLC now owns 77,625 shares of the real estate investment trust’s stock worth $889,000 after buying an additional 13,166 shares during the period. NewEdge Advisors LLC increased its position in Rithm Capital by 5.3% in the 1st quarter. NewEdge Advisors LLC now owns 31,311 shares of the real estate investment trust’s stock valued at $359,000 after acquiring an additional 1,585 shares during the period. Goldman Sachs Group Inc. raised its stake in Rithm Capital by 75.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,539,483 shares of the real estate investment trust’s stock valued at $17,627,000 after acquiring an additional 662,585 shares in the last quarter. Geneos Wealth Management Inc. boosted its position in Rithm Capital by 14.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 7,031 shares of the real estate investment trust’s stock worth $81,000 after acquiring an additional 881 shares during the period. Finally, CWM LLC boosted its position in Rithm Capital by 343.8% during the 2nd quarter. CWM LLC now owns 26,831 shares of the real estate investment trust’s stock worth $303,000 after acquiring an additional 20,785 shares during the period. 44.92% of the stock is owned by institutional investors and hedge funds.

Rithm Capital Price Performance

Shares of NYSE RITM opened at $10.64 on Thursday. Rithm Capital Corp. has a twelve month low of $9.13 and a twelve month high of $12.74. The company has a current ratio of 0.45, a quick ratio of 0.45 and a debt-to-equity ratio of 1.52. The firm has a 50-day moving average of $11.17 and a two-hundred day moving average of $11.43. The company has a market capitalization of $5.90 billion, a price-to-earnings ratio of 10.23 and a beta of 1.20.

Rithm Capital (NYSE:RITM) last released its earnings results on Tuesday, February 3rd. The real estate investment trust reported $0.74 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.19. The business had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.24 billion. Rithm Capital had a net margin of 15.55% and a return on equity of 20.19%. As a group, analysts expect that Rithm Capital Corp. will post 1.93 earnings per share for the current fiscal year.

Rithm Capital Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 30th. Stockholders of record on Wednesday, December 31st were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 9.4%. The ex-dividend date of this dividend was Wednesday, December 31st. Rithm Capital’s dividend payout ratio is currently 96.15%.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on RITM. JonesTrading restated a “buy” rating and set a $13.50 price objective on shares of Rithm Capital in a research note on Thursday, October 30th. Wedbush initiated coverage on shares of Rithm Capital in a research note on Monday, December 15th. They set an “outperform” rating and a $14.00 target price on the stock. Weiss Ratings restated a “hold (c+)” rating on shares of Rithm Capital in a research report on Monday, December 29th. UBS Group set a $15.00 price objective on shares of Rithm Capital in a report on Friday, February 6th. Finally, Piper Sandler reiterated an “overweight” rating and set a $15.00 price objective (down previously from $15.50) on shares of Rithm Capital in a research note on Wednesday, February 4th. Seven investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $14.50.

Rithm Capital Profile

Rithm Capital Corporation is a specialty finance company that originates, acquires and manages structured credit investments collateralized by real estate assets in the United States. The company focuses primarily on senior floating-rate loans secured by multifamily, commercial, industrial and single-family rental properties, aiming to deliver attractive risk-adjusted yields through a diversified portfolio of floating-rate real estate debt.

In addition to senior loans, Rithm Capital invests in residential mortgage-backed securities, including agency and non-agency pools, as well as other real estate-related credit instruments.