Rithm Capital Corp. (NYSE:RITM) Shares Acquired by WESPAC Advisors LLC

WESPAC Advisors LLC increased its holdings in shares of Rithm Capital Corp. (NYSE:RITM) by 7.0% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 84,386 shares of the real estate investment trust’s stock after acquiring an additional 5,502 shares during the quarter. WESPAC Advisors LLC’s holdings in Rithm Capital were worth $958,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of RITM. Van ECK Associates Corp increased its stake in shares of Rithm Capital by 20.7% in the 3rd quarter. Van ECK Associates Corp now owns 2,004,057 shares of the real estate investment trust’s stock worth $21,163,000 after acquiring an additional 343,678 shares during the last quarter. Waterfall Asset Management LLC acquired a new stake in Rithm Capital during the second quarter worth about $2,209,000. SG Americas Securities LLC purchased a new position in Rithm Capital during the third quarter worth about $4,112,000. Vanguard Group Inc. boosted its holdings in Rithm Capital by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 45,815,852 shares of the real estate investment trust’s stock valued at $511,305,000 after purchasing an additional 378,931 shares during the last quarter. Finally, Squarepoint Ops LLC purchased a new stake in shares of Rithm Capital in the 2nd quarter valued at approximately $774,000. Hedge funds and other institutional investors own 44.92% of the company’s stock.

Rithm Capital Stock Performance

NYSE RITM opened at $10.98 on Friday. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.35 and a quick ratio of 1.35. The company has a market cap of $5.71 billion, a P/E ratio of 11.09 and a beta of 1.80. The stock has a 50-day moving average of $10.90 and a two-hundred day moving average of $11.13. Rithm Capital Corp. has a 1-year low of $9.97 and a 1-year high of $12.02.

Rithm Capital (NYSE:RITM) last announced its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.54 earnings per share for the quarter, beating 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 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 earnings per share. As a group, analysts anticipate that Rithm Capital Corp. will post 1.89 EPS for the current year.

Rithm Capital Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Tuesday, October 1st were issued a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $1.00 dividend on an annualized basis and a yield of 9.11%. Rithm Capital’s dividend payout ratio (DPR) is presently 101.01%.

Wall Street Analysts Forecast Growth

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

About Rithm Capital

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.