WESPAC Advisors LLC Has $1.13 Million Stake in Rithm Capital Corp. (NYSE:RITM)

WESPAC Advisors LLC grew its holdings in Rithm Capital Corp. (NYSE:RITM) by 23.9% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 104,553 shares of the real estate investment trust’s stock after buying an additional 20,167 shares during the quarter. WESPAC Advisors LLC’s holdings in Rithm Capital were worth $1,132,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in RITM. Truvestments Capital LLC bought a new position in Rithm Capital during the third quarter worth about $43,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Rithm Capital during the 3rd quarter worth about $43,000. Householder Group Estate & Retirement Specialist LLC increased its position in shares of Rithm Capital by 86.7% during the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 4,439 shares of the real estate investment trust’s stock worth $48,000 after purchasing an additional 2,062 shares in the last quarter. FNY Investment Advisers LLC increased its position in shares of Rithm Capital by 8,600.0% during the 4th quarter. FNY Investment Advisers LLC now owns 8,700 shares of the real estate investment trust’s stock worth $94,000 after purchasing an additional 8,600 shares in the last quarter. Finally, Allworth Financial LP increased its position in shares of Rithm Capital by 281.2% during the 3rd quarter. Allworth Financial LP now owns 8,695 shares of the real estate investment trust’s stock worth $99,000 after purchasing an additional 6,414 shares in the last quarter. Institutional investors and hedge funds own 44.92% of the company’s stock.

Rithm Capital Price Performance

Shares of RITM stock opened at $11.89 on Friday. The stock has a 50-day moving average price of $11.31 and a 200 day moving average price of $11.19. The company has a quick ratio of 1.35, a current ratio of 1.09 and a debt-to-equity ratio of 1.74. The firm has a market cap of $6.19 billion, a price-to-earnings ratio of 7.12 and a beta of 1.79. Rithm Capital Corp. has a 12 month low of $10.38 and a 12 month high of $12.10.

Rithm Capital (NYSE:RITM) last issued its quarterly earnings results on Thursday, February 6th. The real estate investment trust reported $0.60 EPS for the quarter, topping the consensus estimate of $0.44 by $0.16. Rithm Capital had a net margin of 17.79% and a return on equity of 18.15%. Research analysts expect that Rithm Capital Corp. will post 1.93 EPS for the current year.

Rithm Capital Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 8.41%. The ex-dividend date was Tuesday, December 31st. Rithm Capital’s dividend payout ratio is presently 59.88%.

Wall Street Analyst Weigh In

RITM has been the subject of a number of research analyst reports. Wedbush reiterated an “outperform” rating and issued a $14.00 target price on shares of Rithm Capital in a research note on Thursday, November 7th. B. Riley raised Rithm Capital to a “strong-buy” rating in a report on Tuesday, January 7th. JMP Securities restated a “market outperform” rating and issued a $12.50 target price on shares of Rithm Capital in a research note on Thursday, January 23rd. Piper Sandler raised their target price on Rithm Capital from $11.50 to $12.50 and gave the company a “neutral” rating in a research note on Friday, February 7th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $13.00 price objective on shares of Rithm Capital in a research report on Thursday, November 21st. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $13.07.

About Rithm Capital

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.