Waterfall Asset Management LLC Buys Shares of 202,500 Rithm Capital Corp. (NYSE:RITM)

Waterfall Asset Management LLC bought a new stake in Rithm Capital Corp. (NYSE:RITM) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 202,500 shares of the real estate investment trust’s stock, valued at approximately $2,209,000. Rithm Capital makes up approximately 1.5% of Waterfall Asset Management LLC’s holdings, making the stock its 10th largest holding.

Other hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new position in shares of Rithm Capital during the 4th quarter worth approximately $63,896,000. Long Pond Capital LP purchased a new position in shares of Rithm Capital during the 1st quarter worth approximately $53,025,000. MGO One Seven LLC increased its stake in shares of Rithm Capital by 4,525.1% during the 4th quarter. MGO One Seven LLC now owns 768,511 shares of the real estate investment trust’s stock worth $8,208,000 after purchasing an additional 751,895 shares in the last quarter. Allianz Asset Management GmbH increased its stake in shares of Rithm Capital by 107.7% during the 4th quarter. Allianz Asset Management GmbH now owns 1,171,379 shares of the real estate investment trust’s stock worth $12,510,000 after purchasing an additional 607,413 shares in the last quarter. Finally, Vanguard Group Inc. increased its stake in shares of Rithm Capital by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 45,815,852 shares of the real estate investment trust’s stock worth $511,305,000 after purchasing an additional 378,931 shares in the last quarter. 44.92% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on RITM shares. JMP Securities raised their price objective on shares of Rithm Capital from $11.00 to $12.50 and gave the stock a “market outperform” rating in a research note on Friday, July 19th. Wedbush reissued an “outperform” rating and set a $13.00 price objective on shares of Rithm Capital in a research note on Friday, August 16th. Finally, Royal Bank of Canada restated an “outperform” rating and set a $13.00 target price on shares of Rithm Capital in a research report on Tuesday, August 13th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $12.60.

Rithm Capital Stock Down 0.3 %

Shares of RITM opened at $11.88 on Friday. The firm has a market cap of $5.74 billion, a PE ratio of 7.92 and a beta of 1.80. The company’s fifty day moving average is $11.49 and its two-hundred day moving average is $11.19. Rithm Capital Corp. has a fifty-two week low of $8.87 and a fifty-two week high of $12.02. The company has a quick ratio of 0.49, a current ratio of 0.49 and a debt-to-equity ratio of 1.81.

Rithm Capital (NYSE:RITM) last announced its quarterly earnings results on Wednesday, July 31st. The real estate investment trust reported $0.47 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.05. The company had revenue of $1.23 billion for the quarter, compared to analyst estimates of $1.15 billion. Rithm Capital had a net margin of 15.55% and a return on equity of 18.04%. Rithm Capital’s revenue for the quarter was up 18.4% on a year-over-year basis. During the same quarter last year, the business earned $0.62 EPS. Analysts forecast that Rithm Capital Corp. will post 1.82 earnings per share for the current year.

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.