Tcfg Wealth Management LLC Buys New Position in Rithm Capital Corp. $RITM

Tcfg Wealth Management LLC bought a new stake in Rithm Capital Corp. (NYSE:RITM) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 84,632 shares of the real estate investment trust’s stock, valued at approximately $964,000.

A number of other large investors have also recently bought and sold shares of the company. Waterfall Asset Management LLC grew its position in Rithm Capital by 169.7% in the third quarter. Waterfall Asset Management LLC now owns 360,573 shares of the real estate investment trust’s stock valued at $4,115,000 after purchasing an additional 226,859 shares in the last quarter. Public Sector Pension Investment Board bought a new stake in Rithm Capital during the third quarter worth about $1,519,000. Envestnet Asset Management Inc. boosted its holdings in shares of Rithm Capital by 246.8% in the 3rd quarter. Envestnet Asset Management Inc. now owns 433,567 shares of the real estate investment trust’s stock valued at $4,938,000 after buying an additional 308,555 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Rithm Capital by 16.6% in the second quarter. JPMorgan Chase & Co. now owns 1,415,844 shares of the real estate investment trust’s stock valued at $15,985,000 after acquiring an additional 201,720 shares during the last quarter. Finally, Thrivent Financial for Lutherans grew its holdings in Rithm Capital by 108.7% during the second quarter. Thrivent Financial for Lutherans now owns 188,633 shares of the real estate investment trust’s stock worth $2,129,000 after purchasing an additional 98,269 shares during the period. Institutional investors and hedge funds own 44.92% of the company’s stock.

Rithm Capital Price Performance

Rithm Capital stock opened at $9.07 on Thursday. The stock has a 50-day moving average price of $10.68 and a two-hundred day moving average price of $11.09. Rithm Capital Corp. has a 12 month low of $9.05 and a 12 month high of $12.74. The company has a market capitalization of $5.04 billion, a PE ratio of 8.72 and a beta of 1.21. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 2.20.

Rithm Capital (NYSE:RITM) last issued its quarterly 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 company had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.24 billion. Rithm Capital had a net margin of 15.55% and a return on equity of 19.74%. Analysts expect that Rithm Capital Corp. will post 1.93 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have weighed in on RITM shares. Wedbush assumed coverage on shares of Rithm Capital in a report on Monday, December 15th. They issued an “outperform” rating and a $14.00 price target on the stock. Piper Sandler reiterated an “overweight” rating and issued a $15.00 price target (down from $15.50) on shares of Rithm Capital in a research note on Wednesday, February 4th. Wall Street Zen raised Rithm Capital from a “hold” rating to a “buy” rating in a research report on Saturday, March 7th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Rithm Capital in a report on Monday, December 29th. Finally, UBS Group set a $15.00 target price on Rithm Capital in a report on Friday, February 6th. Seven investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, Rithm Capital has a consensus 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.