Ameritas Advisory Services LLC Invests $43,000 in Rithm Capital Corp. $RITM

Ameritas Advisory Services LLC bought a new position in shares of Rithm Capital Corp. (NYSE:RITM) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 3,787 shares of the real estate investment trust’s stock, valued at approximately $43,000.

A number of other institutional investors have also recently bought and sold shares of the business. Sullivan Wood Capital Management LLC acquired a new stake in Rithm Capital during the 2nd quarter worth $1,530,000. Consolidated Portfolio Review Corp grew its stake in shares of Rithm Capital by 6.8% during the second quarter. Consolidated Portfolio Review Corp now owns 118,508 shares of the real estate investment trust’s stock worth $1,338,000 after purchasing an additional 7,506 shares during the period. Institute for Wealth Management LLC. grew its stake in shares of Rithm Capital by 3.4% during the second quarter. Institute for Wealth Management LLC. now owns 50,595 shares of the real estate investment trust’s stock worth $571,000 after purchasing an additional 1,650 shares during the period. Truist Financial Corp grew its stake in shares of Rithm Capital by 2.6% during the second quarter. Truist Financial Corp now owns 97,583 shares of the real estate investment trust’s stock worth $1,102,000 after purchasing an additional 2,516 shares during the period. Finally, HB Wealth Management LLC grew its position in shares of Rithm Capital by 31.6% during the 2nd quarter. HB Wealth Management LLC now owns 23,989 shares of the real estate investment trust’s stock worth $271,000 after buying an additional 5,758 shares during the period. Institutional investors and hedge funds own 44.92% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Wedbush restated an “outperform” rating and set a $14.00 target price on shares of Rithm Capital in a research report on Wednesday, August 6th. UBS Group boosted their price objective on shares of Rithm Capital from $14.00 to $16.00 and gave the company a “buy” rating in a report on Wednesday, September 3rd. BTIG Research reissued a “buy” rating and issued a $16.00 price target on shares of Rithm Capital in a report on Wednesday, September 17th. Jones Trading boosted their price target on shares of Rithm Capital from $12.50 to $13.50 and gave the company a “buy” rating in a report on Tuesday, July 29th. Finally, Keefe, Bruyette & Woods boosted their target price on Rithm Capital from $13.50 to $14.00 and gave the company an “outperform” rating in a research note on Tuesday, July 29th. One research analyst has rated the stock with a Strong Buy rating and nine have assigned a Buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $14.25.

Rithm Capital Trading Up 1.1%

NYSE:RITM opened at $10.77 on Tuesday. Rithm Capital Corp. has a twelve month low of $9.13 and a twelve month high of $12.74. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 1.63. The business has a 50 day moving average price of $12.00 and a two-hundred day moving average price of $11.50. The company has a market cap of $5.71 billion, a P/E ratio of 8.28 and a beta of 1.31.

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

Rithm Capital Announces Dividend

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 9.3%. 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.