Periscope Capital Inc. Invests $114,000 in Rithm Capital Corp. (NYSE:RITM)

Periscope Capital Inc. purchased a new stake in Rithm Capital Corp. (NYSE:RITM) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 10,000 shares of the real estate investment trust’s stock, valued at approximately $114,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. raised its position in shares of Rithm Capital by 154.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,513 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 1,525 shares during the last quarter. Bessemer Group Inc. bought a new stake in Rithm Capital in the first quarter valued at about $30,000. Abich Financial Wealth Management LLC lifted its stake in Rithm Capital by 56.8% in the first quarter. Abich Financial Wealth Management LLC now owns 4,031 shares of the real estate investment trust’s stock valued at $45,000 after buying an additional 1,461 shares during the period. Godsey & Gibb Inc. acquired a new position in shares of Rithm Capital during the 3rd quarter worth about $51,000. Finally, Future Financial Wealth Managment LLC bought a new stake in shares of Rithm Capital in the 3rd quarter valued at about $73,000. 44.92% of the stock is currently owned by institutional investors and hedge funds.

Rithm Capital Stock Up 1.8 %

Rithm Capital stock opened at $10.98 on Friday. The company has a 50 day moving average of $10.90 and a 200-day moving average of $11.13. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.63. Rithm Capital Corp. has a twelve month low of $9.97 and a twelve month high of $12.02. The stock has a market capitalization of $5.71 billion, a PE ratio of 11.09 and a beta of 1.80.

Rithm Capital (NYSE:RITM) last released its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.12. The firm had revenue of $619.51 million during the quarter, compared to analysts’ expectations of $1.11 billion. Rithm Capital had a return on equity of 17.54% and a net margin of 14.99%. During the same quarter in the prior year, the company earned $0.58 EPS. On average, equities research analysts anticipate that Rithm Capital Corp. will post 1.89 EPS for the current fiscal year.

Rithm Capital Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Tuesday, October 1st were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 9.11%. The ex-dividend date was Tuesday, October 1st. Rithm Capital’s payout ratio is 101.01%.

Analyst Ratings Changes

Several research firms recently weighed in on RITM. Wedbush reissued an “outperform” rating and set a $14.00 price objective on shares of Rithm Capital in a research note on Thursday, November 7th. Royal Bank of Canada reissued an “outperform” rating and set a $13.00 price target on shares of Rithm Capital in a research report on Thursday. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Rithm Capital presently has a consensus rating of “Moderate Buy” and an average price target of $12.78.

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.