US Bancorp DE Has $355,000 Position in Rithm Capital Corp. (NYSE:RITM)

US Bancorp DE grew its stake in shares of Rithm Capital Corp. (NYSE:RITM) by 18.0% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 31,303 shares of the real estate investment trust’s stock after acquiring an additional 4,765 shares during the quarter. US Bancorp DE’s holdings in Rithm Capital were worth $355,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. increased its stake in Rithm Capital by 154.4% in the second 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. acquired a new position in shares of Rithm Capital during the 1st quarter worth $30,000. Abich Financial Wealth Management LLC lifted its position in shares of Rithm Capital by 56.8% during the 1st quarter. Abich Financial Wealth Management LLC now owns 4,031 shares of the real estate investment trust’s stock worth $45,000 after buying an additional 1,461 shares during the last quarter. Godsey & Gibb Inc. acquired a new stake in Rithm Capital in the third quarter valued at about $51,000. Finally, Future Financial Wealth Managment LLC bought a new position in Rithm Capital in the third quarter valued at about $73,000. 44.92% of the stock is owned by institutional investors and hedge funds.

Rithm Capital Stock Performance

NYSE:RITM opened at $10.73 on Wednesday. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.49 and a current ratio of 1.35. Rithm Capital Corp. has a fifty-two week low of $9.68 and a fifty-two week high of $12.02. The company has a 50 day simple moving average of $11.04 and a two-hundred day simple moving average of $11.16. The company has a market capitalization of $5.57 billion, a PE ratio of 10.83 and a beta of 1.80.

Rithm Capital (NYSE:RITM) last announced its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.12. The business had revenue of $619.51 million during 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 17.54%. During the same quarter last year, the firm earned $0.58 earnings per share. Research analysts anticipate that Rithm Capital Corp. will post 1.89 earnings per share for the current year.

Rithm Capital Announces Dividend

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

Analyst Ratings Changes

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