Charles Schwab Investment Management Inc. Buys 366,600 Shares of Rithm Capital Corp. (NYSE:RITM)

Charles Schwab Investment Management Inc. lifted its holdings in shares of Rithm Capital Corp. (NYSE:RITM - Free Report) by 7.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,364,962 shares of the real estate investment trust's stock after purchasing an additional 366,600 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.03% of Rithm Capital worth $60,892,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of RITM. Northwestern Mutual Wealth Management Co. raised its stake in shares of Rithm Capital by 154.4% in 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 during the period. Abich Financial Wealth Management LLC boosted its position in 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 acquiring an additional 1,461 shares during the last quarter. Godsey & Gibb Inc. acquired a new position in Rithm Capital during the 3rd quarter worth approximately $51,000. Future Financial Wealth Managment LLC bought a new position in shares of Rithm Capital during the 3rd quarter worth approximately $73,000. Finally, Summit Securities Group LLC acquired a new stake in shares of Rithm Capital in the second quarter valued at approximately $74,000. Institutional investors own 44.92% of the company's stock.

Rithm Capital Stock Performance

Shares of RITM traded up $0.07 during midday trading on Friday, reaching $11.25. The stock had a trading volume of 2,144,096 shares, compared to its average volume of 3,531,215. The firm has a market cap of $5.85 billion, a PE ratio of 11.36 and a beta of 1.80. The firm has a 50 day simple moving average of $10.83 and a 200-day simple moving average of $11.13. Rithm Capital Corp. has a one year low of $9.97 and a one year high of $12.02. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.63.

Rithm Capital (NYSE:RITM - Get Free Report) last issued its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate 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 period last year, the business posted $0.58 EPS. As a group, sell-side analysts anticipate that Rithm Capital Corp. will post 1.89 EPS for the current year.

Rithm Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders 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 dividend yield of 8.89%. Rithm Capital's dividend payout ratio is currently 101.01%.

Analyst Ratings Changes

Several research analysts recently commented on RITM shares. Wedbush restated an "outperform" rating and set a $14.00 target price on shares of Rithm Capital in a report on Thursday, November 7th. Royal Bank of Canada restated an "outperform" rating and set a $13.00 price objective on shares of Rithm Capital in a research note on Thursday, November 21st. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price 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.