Rithm Capital Corp. (NYSE:RITM) Shares Bought by Empowered Funds LLC

Empowered Funds LLC increased its holdings in Rithm Capital Corp. (NYSE:RITM) by 8.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 15,824 shares of the real estate investment trust’s stock after buying an additional 1,216 shares during the period. Empowered Funds LLC’s holdings in Rithm Capital were worth $176,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of RITM. Russell Investments Group Ltd. raised 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 valued at $293,000 after acquiring an additional 17,345 shares in the last quarter. Bessemer Group Inc. acquired a new position in shares of Rithm Capital during the first quarter valued at $30,000. Price T Rowe Associates Inc. MD raised its stake in shares of Rithm Capital by 7.2% during the first quarter. Price T Rowe Associates Inc. MD now owns 225,902 shares of the real estate investment trust’s stock valued at $2,522,000 after purchasing an additional 15,098 shares in the last quarter. Bayesian Capital Management LP bought a new stake in shares of Rithm Capital during the first quarter valued at about $723,000. Finally, Plato Investment Management Ltd acquired a new stake in Rithm Capital in the first quarter worth about $170,000. 44.92% of the stock is owned by institutional investors and hedge funds.

Rithm Capital Trading Down 0.2 %

Shares of RITM opened at $11.13 on Wednesday. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.35 and a current ratio of 1.35. The company has a market cap of $5.78 billion, a price-to-earnings ratio of 11.26 and a beta of 1.80. The stock has a fifty day moving average price of $10.89 and a two-hundred day moving average price of $11.13. Rithm Capital Corp. has a 52-week low of $9.97 and a 52-week high of $12.02.

Rithm Capital (NYSE:RITM) last posted its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.12. The firm had revenue of $619.51 million for the quarter, compared to the consensus estimate of $1.11 billion. Rithm Capital had a return on equity of 17.54% and a net margin of 14.99%. During the same quarter in the prior year, the business earned $0.58 EPS. Analysts predict that Rithm Capital Corp. will post 1.89 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. Stockholders of record on Tuesday, October 1st were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 8.98%. The ex-dividend date of this dividend was Tuesday, October 1st. Rithm Capital’s dividend payout ratio (DPR) is 101.01%.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Wedbush reiterated an “outperform” rating and issued a $14.00 price objective on shares of Rithm Capital in a report on Thursday, November 7th. Royal Bank of Canada reiterated an “outperform” rating and set a $13.00 price target on shares of Rithm Capital in a research report on Thursday, November 21st. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus 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.