Azora Capital LP raised its stake in Rithm Capital Corp. (NYSE:RITM - Free Report) by 107.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,383,821 shares of the real estate investment trust's stock after purchasing an additional 2,271,671 shares during the quarter. Rithm Capital comprises approximately 2.7% of Azora Capital LP's holdings, making the stock its 16th biggest holding. Azora Capital LP owned approximately 0.84% of Rithm Capital worth $49,756,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in the stock. AQR Capital Management LLC lifted its holdings in shares of Rithm Capital by 4.1% during the 2nd quarter. AQR Capital Management LLC now owns 29,848 shares of the real estate investment trust's stock valued at $326,000 after acquiring an additional 1,183 shares in the last quarter. Empowered Funds LLC lifted its holdings in shares of Rithm Capital by 8.3% during the 3rd quarter. Empowered Funds LLC now owns 15,824 shares of the real estate investment trust's stock valued at $176,000 after acquiring an additional 1,216 shares in the last quarter. Founders Financial Alliance LLC lifted its holdings in shares of Rithm Capital by 2.6% during the 2nd quarter. Founders Financial Alliance LLC now owns 50,942 shares of the real estate investment trust's stock valued at $556,000 after acquiring an additional 1,286 shares in the last quarter. Atomi Financial Group Inc. lifted its holdings in shares of Rithm Capital by 6.4% during the 3rd quarter. Atomi Financial Group Inc. now owns 24,711 shares of the real estate investment trust's stock valued at $280,000 after acquiring an additional 1,481 shares in the last quarter. Finally, Cerity Partners LLC lifted its holdings in shares of Rithm Capital by 2.1% during the 3rd quarter. Cerity Partners LLC now owns 72,434 shares of the real estate investment trust's stock valued at $822,000 after acquiring an additional 1,508 shares in the last quarter. Institutional investors and hedge funds own 44.92% of the company's stock.
Rithm Capital Stock Down 0.4 %
Shares of RITM traded down $0.05 during midday trading on Monday, hitting $11.20. The company had a trading volume of 3,299,118 shares, compared to its average volume of 3,528,440. The company's 50 day moving average price is $10.83 and its 200 day moving average price is $11.12. The stock has a market cap of $5.82 billion, a price-to-earnings ratio of 11.36 and a beta of 1.80. Rithm Capital Corp. has a 52 week low of $9.97 and a 52 week high of $12.02. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.63.
Rithm Capital (NYSE:RITM - Get Free Report) last released its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.12. The company 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 in the previous year, the firm earned $0.58 EPS. On average, equities research analysts predict that Rithm Capital Corp. will post 1.89 EPS for the current year.
Rithm Capital Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Tuesday, October 1st were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.93%. The ex-dividend date was Tuesday, October 1st. Rithm Capital's dividend payout ratio is presently 101.01%.
Wall Street Analysts Forecast Growth
A number of equities analysts have commented 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 issued a $13.00 price objective on shares of Rithm Capital in a report on Thursday, November 21st. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $12.78.
View Our Latest Research Report on RITM
About Rithm Capital
(
Free Report)
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.
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