Nwam LLC Purchases New Shares in Rithm Capital Corp. (NYSE:RITM)

Nwam LLC acquired a new position in shares of Rithm Capital Corp. (NYSE:RITM) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 94,803 shares of the real estate investment trust’s stock, valued at approximately $1,076,000.

Other hedge funds have also bought and sold shares of the company. Northwestern Mutual Wealth Management Co. lifted its stake in shares of 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 worth $27,000 after acquiring an additional 1,525 shares during the last quarter. Bessemer Group Inc. bought a new stake in shares of Rithm Capital during the first quarter worth $30,000. Abich Financial Wealth Management LLC boosted its stake in shares of Rithm Capital by 56.8% during the first quarter. Abich Financial Wealth Management LLC now owns 4,031 shares of the real estate investment trust’s stock valued at $45,000 after purchasing an additional 1,461 shares during the period. Godsey & Gibb Inc. purchased a new position in Rithm Capital in the 3rd quarter worth about $51,000. Finally, Future Financial Wealth Managment LLC bought a new stake in Rithm Capital during the 3rd quarter valued at about $73,000. Institutional investors own 44.92% of the company’s stock.

Rithm Capital Stock Up 1.8 %

Shares of NYSE RITM opened at $10.98 on Friday. The stock has a market capitalization of $5.71 billion, a PE ratio of 11.09 and a beta of 1.80. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.63. Rithm Capital Corp. has a 12-month low of $9.97 and a 12-month high of $12.02. The stock’s fifty day simple moving average is $10.90 and its two-hundred day simple moving average is $11.13.

Rithm Capital (NYSE:RITM) last posted its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.12. The company had revenue of $619.51 million for the quarter, compared to analyst estimates of $1.11 billion. Rithm Capital had a return on equity of 17.54% and a net margin of 14.99%. During the same quarter in the previous year, the firm earned $0.58 earnings per share. As a group, analysts expect that Rithm Capital Corp. will post 1.89 EPS 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. The ex-dividend date was Tuesday, October 1st. This represents a $1.00 dividend on an annualized basis and a yield of 9.11%. Rithm Capital’s payout ratio is 101.01%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on RITM. Wedbush reaffirmed 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 reaffirmed an “outperform” rating and set a $13.00 target price on shares of Rithm Capital in a research report on Thursday. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $12.78.

Rithm Capital Company 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.