Farther Finance Advisors LLC Has $152,000 Position in Rithm Capital Corp. $RITM

Farther Finance Advisors LLC lifted its holdings in shares of Rithm Capital Corp. (NYSE:RITM) by 185.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,459 shares of the real estate investment trust’s stock after purchasing an additional 8,745 shares during the quarter. Farther Finance Advisors LLC’s holdings in Rithm Capital were worth $152,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of RITM. Kingstone Capital Partners Texas LLC acquired a new stake in shares of Rithm Capital during the second quarter worth about $96,027,000. Mackenzie Financial Corp raised its position in shares of Rithm Capital by 288.6% during the first quarter. Mackenzie Financial Corp now owns 2,725,392 shares of the real estate investment trust’s stock worth $31,206,000 after purchasing an additional 2,024,090 shares during the period. Wellington Management Group LLP raised its position in Rithm Capital by 36.3% in the 1st quarter. Wellington Management Group LLP now owns 4,907,737 shares of the real estate investment trust’s stock valued at $56,194,000 after buying an additional 1,307,276 shares during the last quarter. Nuveen LLC acquired a new stake in Rithm Capital in the 1st quarter valued at approximately $14,086,000. Finally, Goldman Sachs Group Inc. raised its position in Rithm Capital by 75.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,539,483 shares of the real estate investment trust’s stock valued at $17,627,000 after buying an additional 662,585 shares during the last quarter. Institutional investors and hedge funds own 44.92% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on RITM shares. BTIG Research reissued a “buy” rating and issued a $16.00 target price on shares of Rithm Capital in a research report on Wednesday, September 17th. Jones Trading lifted their target price on Rithm Capital from $12.50 to $13.50 and gave the stock a “buy” rating in a research note on Tuesday, July 29th. UBS Group lifted their price target on Rithm Capital from $14.00 to $16.00 and gave the stock a “buy” rating in a report on Wednesday, September 3rd. 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 report on Friday, August 1st. Finally, Wedbush restated an “outperform” rating and set a $14.00 price objective on shares of Rithm Capital in a research report on Wednesday, August 6th. One equities research analyst has rated the stock with a Strong Buy rating and eight have issued a Buy rating to the stock. Based on data from MarketBeat.com, Rithm Capital currently has a consensus rating of “Buy” and a consensus price target of $14.25.

Rithm Capital Stock Performance

Shares of Rithm Capital stock opened at $11.16 on Friday. The company has a market cap of $5.92 billion, a PE ratio of 8.58 and a beta of 1.31. Rithm Capital Corp. has a 52 week low of $9.13 and a 52 week high of $12.74. The business has a 50 day moving average price of $12.18 and a 200-day moving average price of $11.55. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 1.63.

Rithm Capital (NYSE:RITM) last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $1.18 billion. Rithm Capital had a return on equity of 18.89% and a net margin of 16.72%. Equities analysts anticipate that Rithm Capital Corp. will post 1.93 earnings per share for the current fiscal year.

Rithm Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Wednesday, October 1st will be paid a $0.25 dividend. The ex-dividend date of this dividend is Wednesday, October 1st. This represents a $1.00 annualized dividend and a dividend yield of 9.0%. Rithm Capital’s dividend 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.