Concurrent Investment Advisors LLC Invests $961,000 in Rithm Capital Corp. (NYSE:RITM)

Concurrent Investment Advisors LLC purchased a new position in Rithm Capital Corp. (NYSE:RITM - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 84,645 shares of the real estate investment trust's stock, valued at approximately $961,000.

A number of other large investors also recently modified their holdings of RITM. Northwestern Mutual Wealth Management Co. boosted its stake in Rithm Capital by 154.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,513 shares of the real estate investment trust's stock valued at $27,000 after purchasing an additional 1,525 shares in the last quarter. Bessemer Group Inc. bought a new position in Rithm Capital during the first quarter valued at about $30,000. Abich Financial Wealth Management LLC boosted its stake in Rithm Capital by 56.8% during the first quarter. Abich Financial Wealth Management LLC now owns 4,031 shares of the real estate investment trust's stock valued at $45,000 after buying an additional 1,461 shares in the last quarter. Godsey & Gibb Inc. bought a new stake in Rithm Capital in the third quarter worth about $51,000. Finally, Future Financial Wealth Managment LLC acquired a new stake in Rithm Capital in the 3rd quarter valued at about $73,000. 44.92% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of analysts recently commented on RITM shares. Wedbush reiterated an "outperform" rating and issued a $14.00 target price on shares of Rithm Capital in a report on Thursday. Royal Bank of Canada restated an "outperform" rating and issued a $13.00 target price on shares of Rithm Capital in a report on Tuesday, August 13th. Finally, JMP Securities upped their target price on Rithm Capital from $11.00 to $12.50 and gave the company a "market outperform" rating in a report on Friday, July 19th. 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, the company presently has an average rating of "Moderate Buy" and an average price target of $12.78.

Rithm Capital Stock Up 1.0 %

RITM traded up $0.11 on Friday, reaching $10.78. 3,960,964 shares of the company traded hands, compared to its average volume of 4,573,644. The company has a market cap of $5.60 billion, a price-to-earnings ratio of 10.89 and a beta of 1.80. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.35 and a quick ratio of 0.49. The stock's 50 day moving average price is $11.08 and its 200-day moving average price is $11.16. Rithm Capital Corp. has a 52-week low of $9.68 and a 52-week high of $12.02.

Rithm Capital (NYSE:RITM - Get Free Report) last posted its quarterly 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. 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 for the quarter, compared to the consensus estimate of $1.11 billion. During the same period in the prior year, the business posted $0.58 earnings per share. On average, sell-side analysts expect that Rithm Capital Corp. will post 1.85 EPS for the current fiscal year.

Rithm Capital Dividend Announcement

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 dividend of $0.25 per share. The ex-dividend date was Tuesday, October 1st. This represents a $1.00 annualized dividend and a dividend yield of 9.28%. Rithm Capital's dividend 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.