18,500 Shares in Rithm Capital Corp. (NYSE:RITM) Acquired by Infrastructure Capital Advisors LLC

Infrastructure Capital Advisors LLC acquired a new position in Rithm Capital Corp. (NYSE:RITM) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 18,500 shares of the real estate investment trust’s stock, valued at approximately $205,000.

A number of other hedge funds also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. raised its stake in Rithm Capital by 154.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,513 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 1,525 shares during the last quarter. Truvestments Capital LLC purchased a new stake in Rithm Capital during the 3rd quarter valued at $43,000. Abich Financial Wealth Management LLC raised its stake in Rithm Capital by 56.8% during the 1st quarter. Abich Financial Wealth Management LLC now owns 4,031 shares of the real estate investment trust’s stock valued at $45,000 after buying an additional 1,461 shares during the last quarter. Godsey & Gibb Inc. purchased a new stake in Rithm Capital during the 3rd quarter valued at $51,000. Finally, Future Financial Wealth Managment LLC purchased a new stake in Rithm Capital during the 3rd quarter valued at $73,000. 44.92% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on RITM shares. Royal Bank of Canada reiterated an “outperform” rating and set a $13.00 target price on shares of Rithm Capital in a research note on Thursday, November 21st. Wedbush reiterated an “outperform” rating and set a $14.00 target price on shares of Rithm Capital in a research note on Thursday, November 7th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $12.78.

Rithm Capital Trading Up 0.4 %

Shares of RITM stock opened at $11.18 on Friday. Rithm Capital Corp. has a 1 year low of $9.97 and a 1 year high of $12.02. The firm has a fifty day moving average price of $10.85 and a 200-day moving average price of $11.13. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.35 and a quick ratio of 1.35. The company has a market cap of $5.81 billion, a price-to-earnings ratio of 11.29 and a beta of 1.80.

Rithm Capital (NYSE:RITM) last issued its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.12. The company had revenue of $619.51 million during the quarter, compared to the consensus estimate of $1.11 billion. Rithm Capital had a net margin of 14.99% and a return on equity of 17.54%. During the same quarter in the prior year, the firm posted $0.58 EPS. As a group, equities analysts predict that Rithm Capital Corp. will post 1.89 earnings per share for the current 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 issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 8.94%. The ex-dividend date of this dividend was Tuesday, October 1st. Rithm Capital’s dividend payout ratio 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.