MQS Management LLC Has $144,000 Position in Rithm Capital Corp. (NYSE:RITM)

MQS Management LLC lessened its holdings in Rithm Capital Corp. (NYSE:RITM) by 34.8% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,656 shares of the real estate investment trust’s stock after selling 6,769 shares during the quarter. MQS Management LLC’s holdings in Rithm Capital were worth $144,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in RITM. Empowered Funds LLC bought a new position in Rithm Capital in the 1st quarter valued at approximately $136,000. Sei Investments Co. raised its holdings in Rithm Capital by 725.7% in the 1st quarter. Sei Investments Co. now owns 395,384 shares of the real estate investment trust’s stock valued at $4,412,000 after buying an additional 347,499 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in Rithm Capital by 196.3% in the 1st quarter. Russell Investments Group Ltd. now owns 26,182 shares of the real estate investment trust’s stock valued at $293,000 after buying an additional 17,345 shares during the last quarter. Avantax Advisory Services Inc. raised its holdings in Rithm Capital by 10.3% in the 1st quarter. Avantax Advisory Services Inc. now owns 23,682 shares of the real estate investment trust’s stock valued at $264,000 after buying an additional 2,214 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System raised its holdings in Rithm Capital by 0.7% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 445,905 shares of the real estate investment trust’s stock valued at $4,976,000 after buying an additional 2,937 shares during the last quarter. Institutional investors own 44.92% of the company’s stock.

Rithm Capital Stock Performance

NYSE:RITM opened at $10.73 on Friday. The company has a fifty day moving average of $10.99 and a 200-day moving average of $11.15. The firm has a market capitalization of $5.58 billion, a P/E ratio of 10.84 and a beta of 1.80. 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 $9.94 and a twelve month high of $12.02.

Rithm Capital (NYSE:RITM) last released its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.54 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.12. The company had revenue of $619.51 million during the quarter, compared to analyst estimates of $1.11 billion. Rithm Capital had a net margin of 14.99% and a return on equity of 17.54%. During the same quarter in the previous year, the business posted $0.58 EPS. As a group, sell-side analysts anticipate that Rithm Capital Corp. will post 1.89 EPS for the current year.

Rithm Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Tuesday, October 1st were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 9.32%. The ex-dividend date was Tuesday, October 1st. Rithm Capital’s payout ratio is currently 101.01%.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the stock. JMP Securities raised their price target on shares of Rithm Capital from $11.00 to $12.50 and gave the stock a “market outperform” rating in a report on Friday, July 19th. Royal Bank of Canada restated an “outperform” rating and set a $13.00 price target on shares of Rithm Capital in a report on Tuesday, August 13th. Finally, Wedbush restated an “outperform” rating and set a $14.00 price target on shares of Rithm Capital in a report on Thursday, November 7th. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $12.78.

Rithm Capital 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.