Edgestream Partners L.P. Reduces Stock Holdings in Rithm Capital Corp. (NYSE:RITM)

Edgestream Partners L.P. cut its position in Rithm Capital Corp. (NYSE:RITM - Free Report) by 55.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 207,963 shares of the real estate investment trust's stock after selling 257,269 shares during the period. Edgestream Partners L.P.'s holdings in Rithm Capital were worth $2,360,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in RITM. Price T Rowe Associates Inc. MD increased its holdings in 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 buying an additional 15,098 shares during the last quarter. Cetera Investment Advisers raised its holdings in Rithm Capital by 460.3% in the 1st quarter. Cetera Investment Advisers now owns 265,611 shares of the real estate investment trust's stock worth $2,964,000 after purchasing an additional 218,206 shares during the period. Cetera Advisors LLC grew its holdings in Rithm Capital by 16.3% during the first quarter. Cetera Advisors LLC now owns 200,775 shares of the real estate investment trust's stock valued at $2,241,000 after purchasing an additional 28,212 shares during the period. U.S. Capital Wealth Advisors LLC increased its holdings in Rithm Capital by 28.3% in the 2nd quarter. U.S. Capital Wealth Advisors LLC now owns 15,282 shares of the real estate investment trust's stock worth $167,000 after acquiring an additional 3,367 shares in the last quarter. Finally, HFG Advisors Inc. purchased a new position in shares of Rithm Capital in the second quarter valued at about $109,000. Institutional investors own 44.92% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Royal Bank of Canada restated an "outperform" rating and set a $13.00 target price on shares of Rithm Capital in a research report on Thursday, November 21st. Wedbush reaffirmed an "outperform" rating and set a $14.00 price objective on shares of Rithm Capital in a report on Thursday, November 7th. Finally, Keefe, Bruyette & Woods increased their target price on Rithm Capital from $13.00 to $13.50 and gave the company an "outperform" rating in a research report on Tuesday. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Rithm Capital presently has a consensus rating of "Moderate Buy" and an average price target of $12.89.

Rithm Capital Stock Down 0.4 %

Shares of RITM stock traded down $0.04 during mid-day trading on Tuesday, hitting $11.16. The stock had a trading volume of 2,221,559 shares, compared to its average volume of 3,524,670. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.35 and a quick ratio of 1.35. Rithm Capital Corp. has a 12-month low of $9.97 and a 12-month high of $12.02. The firm's 50-day moving average is $10.81 and its two-hundred day moving average is $11.12. The firm has a market capitalization of $5.80 billion, a P/E ratio of 11.27 and a beta of 1.80.

Rithm Capital (NYSE:RITM - Get Free Report) last announced its quarterly 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 firm had revenue of $619.51 million during the quarter, compared to analysts' expectations 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 prior year, the company earned $0.58 EPS. On average, analysts predict that Rithm Capital Corp. will post 1.89 earnings per share for the current fiscal year.

Rithm Capital Announces Dividend

The business 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. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.96%. Rithm Capital's dividend payout ratio is presently 101.01%.

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.