Waterfall Asset Management LLC Grows Stock Position in Rithm Capital Corp. $RITM

Waterfall Asset Management LLC lifted its position in Rithm Capital Corp. (NYSE:RITM) by 169.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 360,573 shares of the real estate investment trust’s stock after acquiring an additional 226,859 shares during the quarter. Rithm Capital accounts for approximately 0.5% of Waterfall Asset Management LLC’s holdings, making the stock its 9th largest position. Waterfall Asset Management LLC owned 0.07% of Rithm Capital worth $4,115,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. AlphaCore Capital LLC lifted its stake in Rithm Capital by 12.3% during the third quarter. AlphaCore Capital LLC now owns 37,705 shares of the real estate investment trust’s stock worth $429,000 after purchasing an additional 4,137 shares during the last quarter. Intech Investment Management LLC acquired a new stake in shares of Rithm Capital during the third quarter worth $450,000. US Bancorp DE lifted its position in shares of Rithm Capital by 4.1% in the 3rd quarter. US Bancorp DE now owns 29,297 shares of the real estate investment trust’s stock worth $334,000 after buying an additional 1,141 shares during the last quarter. Fox Run Management L.L.C. bought a new position in shares of Rithm Capital in the 3rd quarter worth about $874,000. Finally, Compound Planning Inc. lifted its position in shares of Rithm Capital by 11.8% in the 3rd quarter. Compound Planning Inc. now owns 11,992 shares of the real estate investment trust’s stock worth $137,000 after buying an additional 1,264 shares during the last quarter. 44.92% of the stock is owned by institutional investors and hedge funds.

Rithm Capital Trading Down 3.1%

Shares of NYSE:RITM opened at $10.08 on Monday. The company has a 50 day moving average of $11.04 and a 200-day moving average of $11.33. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 2.20. The firm has a market cap of $5.60 billion, a P/E ratio of 9.69 and a beta of 1.21. Rithm Capital Corp. has a twelve month low of $9.13 and a twelve month high of $12.74.

Rithm Capital (NYSE:RITM) last announced its earnings results on Tuesday, February 3rd. The real estate investment trust reported $0.74 EPS for the quarter, topping the consensus estimate of $0.55 by $0.19. The firm had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.24 billion. Rithm Capital had a return on equity of 19.74% and a net margin of 15.55%. As a group, analysts anticipate 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, January 30th. Stockholders of record on Wednesday, December 31st were issued a $0.25 dividend. The ex-dividend date was Wednesday, December 31st. This represents a $1.00 annualized dividend and a dividend yield of 9.9%. Rithm Capital’s dividend payout ratio is 96.15%.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on RITM shares. Keefe, Bruyette & Woods reissued an “outperform” rating on shares of Rithm Capital in a report on Thursday, December 18th. Wedbush initiated coverage on Rithm Capital in a research note on Monday, December 15th. They set an “outperform” rating and a $14.00 price objective for the company. Piper Sandler reiterated an “overweight” rating and issued a $15.00 target price (down from $15.50) on shares of Rithm Capital in a research note on Wednesday, February 4th. UBS Group set a $15.00 price objective on shares of Rithm Capital in a report on Friday, February 6th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Rithm Capital in a research report on Monday, December 29th. Seven equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Rithm Capital has a consensus rating of “Moderate Buy” and a consensus target price of $14.50.

Rithm Capital Company 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.