Rithm Capital Corp. $RITM Shares Purchased by Steward Partners Investment Advisory LLC

Steward Partners Investment Advisory LLC boosted its holdings in shares of Rithm Capital Corp. (NYSE:RITM) by 384.7% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 232,859 shares of the real estate investment trust’s stock after purchasing an additional 184,814 shares during the quarter. Steward Partners Investment Advisory LLC’s holdings in Rithm Capital were worth $2,629,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Geneos Wealth Management Inc. increased its stake in shares of Rithm Capital by 14.3% in the first quarter. Geneos Wealth Management Inc. now owns 7,031 shares of the real estate investment trust’s stock worth $81,000 after buying an additional 881 shares during the last quarter. GAMMA Investing LLC grew its holdings in Rithm Capital by 19.1% during the 2nd quarter. GAMMA Investing LLC now owns 5,528 shares of the real estate investment trust’s stock worth $62,000 after acquiring an additional 887 shares in the last quarter. Townsquare Capital LLC increased its position in shares of Rithm Capital by 3.7% in the 1st quarter. Townsquare Capital LLC now owns 30,439 shares of the real estate investment trust’s stock worth $349,000 after purchasing an additional 1,088 shares during the last quarter. CWM LLC raised its stake in shares of Rithm Capital by 25.5% in the 1st quarter. CWM LLC now owns 6,046 shares of the real estate investment trust’s stock valued at $69,000 after purchasing an additional 1,228 shares in the last quarter. Finally, Foster Victor Wealth Advisors LLC raised its stake in shares of Rithm Capital by 2.3% in the 2nd quarter. Foster Victor Wealth Advisors LLC now owns 60,618 shares of the real estate investment trust’s stock valued at $710,000 after purchasing an additional 1,361 shares in the last quarter. 44.92% of the stock is currently owned by hedge funds and other institutional investors.

Rithm Capital Stock Performance

Shares of RITM stock opened at $11.47 on Friday. The company has a market cap of $6.35 billion, a P/E ratio of 7.91 and a beta of 1.30. The business has a 50 day moving average of $11.09 and a two-hundred day moving average of $11.58. Rithm Capital Corp. has a 52 week low of $9.13 and a 52 week high of $12.74. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 1.52.

Rithm Capital (NYSE:RITM) last announced its quarterly earnings results on Thursday, October 30th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.54. Rithm Capital had a return on equity of 18.82% and a net margin of 17.08%.The business had revenue of $1.11 billion for the quarter, compared to the consensus estimate of $1.07 billion. As a group, analysts anticipate that Rithm Capital Corp. will post 1.93 EPS for the current year.

Rithm Capital Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Wednesday, October 1st were given a dividend of $0.25 per share. The ex-dividend date was Wednesday, October 1st. This represents a $1.00 annualized dividend and a dividend yield of 8.7%. Rithm Capital’s dividend payout ratio is currently 68.97%.

Insider Transactions at Rithm Capital

In related news, CEO Michael Nierenberg sold 301,548 shares of the stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $11.00, for a total value of $3,317,028.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider David Zeiden sold 19,285 shares of the business’s stock in a transaction dated Friday, November 14th. The shares were sold at an average price of $11.11, for a total transaction of $214,256.35. Additional details regarding this sale are available in the official SEC disclosure. 0.44% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

RITM has been the subject of a number of research reports. Weiss Ratings reiterated a “hold (c+)” rating on shares of Rithm Capital in a research note on Tuesday. UBS Group increased their target price on Rithm Capital from $14.00 to $16.00 and gave the stock a “buy” rating in a report on Wednesday, September 3rd. Wedbush reiterated an “outperform” rating and issued a $14.00 target price on shares of Rithm Capital in a research report on Wednesday, August 6th. Jones Trading reiterated a “buy” rating and issued a $13.50 price target on shares of Rithm Capital in a report on Thursday, October 30th. Finally, BTIG Research restated a “buy” rating and set a $16.00 price objective on shares of Rithm Capital in a research note on Wednesday, September 17th. One research analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $14.25.

About Rithm Capital

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.