Rithm Capital Corp. $RITM Shares Purchased by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC boosted its holdings in Rithm Capital Corp. (NYSE:RITM) by 9.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 194,655 shares of the real estate investment trust’s stock after buying an additional 16,148 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Rithm Capital were worth $2,283,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in RITM. SouthState Corp acquired a new stake in Rithm Capital in the 1st quarter worth about $25,000. Fourth Dimension Wealth LLC boosted its stake in Rithm Capital by 50.0% in the 1st quarter. Fourth Dimension Wealth LLC now owns 3,000 shares of the real estate investment trust’s stock worth $34,000 after buying an additional 1,000 shares during the last quarter. SVB Wealth LLC acquired a new stake in Rithm Capital in the 1st quarter worth about $57,000. Quent Capital LLC boosted its stake in Rithm Capital by 58.6% in the 1st quarter. Quent Capital LLC now owns 5,465 shares of the real estate investment trust’s stock worth $63,000 after buying an additional 2,019 shares during the last quarter. Finally, CWM LLC boosted its stake in Rithm Capital by 25.5% in the 1st quarter. CWM LLC now owns 6,046 shares of the real estate investment trust’s stock worth $69,000 after buying an additional 1,228 shares during the last quarter. 44.92% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. UBS Group raised their price target on Rithm Capital from $14.00 to $16.00 and gave the stock a “buy” rating in a research note on Wednesday, September 3rd. Keefe, Bruyette & Woods lifted their price objective on Rithm Capital from $13.50 to $14.00 and gave the company an “outperform” rating in a research note on Tuesday, July 29th. Royal Bank Of Canada lifted their price objective on Rithm Capital from $13.00 to $14.00 and gave the company an “outperform” rating in a research note on Friday, August 1st. BTIG Research reaffirmed a “buy” rating and issued a $16.00 price objective on shares of Rithm Capital in a research note on Wednesday, September 17th. Finally, Jones Trading lifted their price objective on Rithm Capital from $12.50 to $13.50 and gave the company a “buy” rating in a research note on Tuesday, July 29th. One research analyst has rated the stock with a Strong Buy rating and eight have given a Buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $14.25.

Rithm Capital Stock Performance

Rithm Capital stock opened at $11.62 on Monday. The stock’s 50 day moving average price is $12.25 and its 200 day moving average price is $11.55. The firm has a market capitalization of $6.16 billion, a PE ratio of 8.94 and a beta of 1.30. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.40 and a current ratio of 0.40. Rithm Capital Corp. has a one year low of $9.13 and a one year high of $12.74.

Rithm Capital (NYSE:RITM) last released its quarterly earnings results on Monday, July 28th. The real estate investment trust reported $0.54 EPS for the quarter, topping the consensus estimate of $0.51 by $0.03. The firm had revenue of $1.22 billion for the quarter, compared to analyst estimates of $1.18 billion. Rithm Capital had a return on equity of 18.89% and a net margin of 16.72%. As a group, sell-side analysts expect that Rithm Capital Corp. will post 1.93 EPS for the current fiscal year.

Rithm Capital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Wednesday, October 1st will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $1.00 annualized dividend and a yield of 8.6%. Rithm Capital’s payout ratio is 76.92%.

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.