Beck Capital Management LLC Acquires 5,545 Shares of Rithm Capital Corp. (NYSE:RITM)

Beck Capital Management LLC boosted its holdings in shares of Rithm Capital Corp. (NYSE:RITM) by 2.5% in the 3rd quarter, Holdings Channel.com reports. The firm owned 223,918 shares of the real estate investment trust’s stock after purchasing an additional 5,545 shares during the quarter. Beck Capital Management LLC’s holdings in Rithm Capital were worth $2,541,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. boosted its position in shares of Rithm Capital by 154.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,513 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 1,525 shares during the period. Truvestments Capital LLC bought a new stake in Rithm Capital in the 3rd quarter valued at $43,000. Godsey & Gibb Inc. acquired a new stake in Rithm Capital in the 3rd quarter worth $51,000. Future Financial Wealth Managment LLC bought a new position in shares of Rithm Capital during the 3rd quarter worth about $73,000. Finally, Summit Securities Group LLC acquired a new position in shares of Rithm Capital during the second quarter valued at about $74,000. Institutional investors and hedge funds own 44.92% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on RITM shares. Wedbush reissued an “outperform” rating and set a $14.00 target price on shares of Rithm Capital in a research report on Thursday, November 7th. Royal Bank of Canada reissued an “outperform” rating and set a $13.00 price objective on shares of Rithm Capital in a report on Thursday, November 21st. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $12.78.

Rithm Capital Trading Up 0.6 %

RITM stock opened at $11.25 on Monday. Rithm Capital Corp. has a 1-year low of $9.97 and a 1-year high of $12.02. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.63. The business’s 50 day moving average is $10.83 and its 200-day moving average is $11.12. The firm has a market cap of $5.85 billion, a P/E ratio of 11.36 and a beta of 1.80.

Rithm Capital (NYSE:RITM) last announced its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.12. The firm had revenue of $619.51 million for the quarter, compared to analysts’ expectations of $1.11 billion. Rithm Capital had a return on equity of 17.54% and a net margin of 14.99%. During the same period in the prior year, the business posted $0.58 earnings per share. Equities analysts anticipate that Rithm Capital Corp. will post 1.89 earnings per share for the current fiscal year.

Rithm Capital Announces Dividend

The company also recently announced 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. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.89%. The ex-dividend date of this dividend was Tuesday, October 1st. Rithm Capital’s dividend payout ratio (DPR) is currently 101.01%.

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.