Wealth Enhancement Advisory Services LLC Acquires 7,057 Shares of Rithm Capital Corp. (NYSE:RITM)

Wealth Enhancement Advisory Services LLC raised its holdings in shares of Rithm Capital Corp. (NYSE:RITM) by 63.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 18,167 shares of the real estate investment trust’s stock after acquiring an additional 7,057 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Rithm Capital were worth $206,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Empowered Funds LLC bought a new stake in Rithm Capital in the first quarter valued at about $136,000. Sei Investments Co. raised its position in shares of 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 acquiring an additional 347,499 shares during the period. Russell Investments Group Ltd. boosted its stake in Rithm Capital by 196.3% during the 1st quarter. Russell Investments Group Ltd. now owns 26,182 shares of the real estate investment trust’s stock worth $293,000 after acquiring an additional 17,345 shares during the last quarter. Avantax Advisory Services Inc. grew its holdings in Rithm Capital by 10.3% during the first quarter. Avantax Advisory Services Inc. now owns 23,682 shares of the real estate investment trust’s stock valued at $264,000 after purchasing an additional 2,214 shares during the period. Finally, State Board of Administration of Florida Retirement System increased its stake in Rithm Capital by 0.7% in the first 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 purchasing an additional 2,937 shares in the last quarter. Institutional investors and hedge funds own 44.92% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on RITM. Wedbush reissued an “outperform” rating and set a $14.00 price target on shares of Rithm Capital in a research report on Thursday, November 7th. JMP Securities boosted their target price 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. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $13.00 price target on shares of Rithm Capital in a report on Tuesday, August 13th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.78.

Rithm Capital Trading Down 0.8 %

NYSE RITM opened at $10.73 on Wednesday. The stock has a market capitalization of $5.57 billion, a price-to-earnings ratio of 10.83 and a beta of 1.80. Rithm Capital Corp. has a 52 week low of $9.68 and a 52 week high of $12.02. The stock’s 50 day moving average price is $11.04 and its two-hundred day moving average price is $11.16. 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 (NYSE:RITM) last announced its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.54 EPS for the quarter, topping the consensus estimate of $0.42 by $0.12. Rithm Capital had a net margin of 14.99% and a return on equity of 17.54%. The business had revenue of $619.51 million during the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter in the prior year, the company posted $0.58 earnings per share. As a group, analysts anticipate that Rithm Capital Corp. will post 1.89 earnings per share for the current fiscal 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 given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.32%. The ex-dividend date was Tuesday, October 1st. Rithm Capital’s dividend payout ratio is currently 101.01%.

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.