Geode Capital Management LLC Buys 610,698 Shares of Rithm Capital Corp. (NYSE:RITM)

Geode Capital Management LLC lifted its position in Rithm Capital Corp. (NYSE:RITM) by 7.8% during the 3rd quarter, Holdings Channel reports. The firm owned 8,415,057 shares of the real estate investment trust’s stock after buying an additional 610,698 shares during the quarter. Geode Capital Management LLC’s holdings in Rithm Capital were worth $95,537,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in RITM. Northwestern Mutual Wealth Management Co. boosted its position in 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 buying an additional 1,525 shares in the last quarter. Truvestments Capital LLC acquired a new position in shares of Rithm Capital in the 3rd quarter worth approximately $43,000. Godsey & Gibb Inc. bought a new stake in Rithm Capital during the 3rd quarter worth approximately $51,000. Future Financial Wealth Managment LLC acquired a new stake in Rithm Capital during the 3rd quarter valued at $73,000. Finally, Summit Securities Group LLC bought a new position in Rithm Capital in the 2nd quarter valued at $74,000. Institutional investors and hedge funds own 44.92% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on RITM shares. Keefe, Bruyette & Woods increased their target price on Rithm Capital from $13.00 to $13.50 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. Wedbush restated an “outperform” rating and issued a $14.00 price objective on shares of Rithm Capital in a research report on Thursday, November 7th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $13.00 target price on shares of Rithm Capital in a research report on Thursday, November 21st. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $12.94.

Rithm Capital Stock Down 0.3 %

Shares of NYSE:RITM opened at $10.67 on Friday. 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 stock has a market cap of $5.55 billion, a price-to-earnings ratio of 10.78 and a beta of 1.80. The company has a 50 day moving average of $10.85 and a 200-day moving average of $11.12. Rithm Capital Corp. has a one year low of $9.97 and a one year high of $12.02.

Rithm Capital (NYSE:RITM) last released its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.54 EPS for the quarter, topping analysts’ consensus estimates of $0.42 by $0.12. Rithm Capital had a net margin of 14.99% and a return on equity of 17.54%. The firm had revenue of $619.51 million during the quarter, compared to analyst estimates of $1.11 billion. During the same quarter in the previous year, the business earned $0.58 EPS. On average, sell-side analysts forecast that Rithm Capital Corp. will post 1.93 earnings per share for the current year.

Rithm Capital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be paid a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.00 dividend on an annualized basis and a yield of 9.37%. Rithm Capital’s payout ratio is 101.01%.

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.