Creative Planning Raises Position in Rithm Capital Corp. (NYSE:RITM)

Creative Planning raised its holdings in shares of Rithm Capital Corp. (NYSE:RITM) by 20.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 77,109 shares of the real estate investment trust’s stock after acquiring an additional 13,152 shares during the quarter. Creative Planning’s holdings in Rithm Capital were worth $875,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of the business. Long Pond Capital LP purchased a new position in shares of Rithm Capital during the 1st quarter valued at $53,025,000. Vanguard Group Inc. lifted its stake 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 worth $511,305,000 after purchasing an additional 378,931 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Rithm Capital in the 3rd quarter worth $4,112,000. Sei Investments Co. lifted its stake 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 worth $4,412,000 after purchasing an additional 347,499 shares in the last quarter. Finally, CANADA LIFE ASSURANCE Co lifted its stake in Rithm Capital by 261.1% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 360,217 shares of the real estate investment trust’s stock worth $4,022,000 after purchasing an additional 260,454 shares in the last quarter. Hedge funds and other institutional investors own 44.92% of the company’s stock.

Wall Street Analysts Forecast Growth

RITM has been the topic of several research analyst reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $13.00 price target on shares of Rithm Capital in a research note on Tuesday, August 13th. Wedbush reiterated an “outperform” rating and issued a $13.00 price target on shares of Rithm Capital in a research note on Friday, August 16th. Finally, JMP Securities boosted their price target 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. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, Rithm Capital presently has an average rating of “Moderate Buy” and a consensus price target of $12.67.

Rithm Capital Stock Performance

Rithm Capital stock opened at $10.48 on Friday. The company has a market cap of $5.06 billion, a PE ratio of 10.79 and a beta of 1.80. Rithm Capital Corp. has a twelve month low of $9.61 and a twelve month high of $12.02. The company’s 50-day moving average price is $11.22 and its 200-day moving average price is $11.17. 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 issued its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.54 EPS for the quarter, beating the consensus estimate of $0.42 by $0.12. The company had revenue of $619.51 million for the quarter, compared to the consensus estimate of $1.11 billion. Rithm Capital had a net margin of 14.99% and a return on equity of 17.91%. During the same period in the prior year, the firm posted $0.58 EPS. On average, equities research analysts forecast that Rithm Capital Corp. will post 1.85 EPS for the current fiscal year.

Rithm Capital Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Tuesday, October 1st were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $1.00 annualized dividend and a yield of 9.54%. Rithm Capital’s payout ratio is 101.01%.

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.