Geode Capital Management LLC Grows Position in Rithm Capital Corp. (NYSE:RITM)

Geode Capital Management LLC raised its stake in shares of Rithm Capital Corp. (NYSE:RITM - Free Report) by 7.8% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 8,415,057 shares of the real estate investment trust's stock after purchasing an additional 610,698 shares during the period. Geode Capital Management LLC owned approximately 1.62% of Rithm Capital worth $95,537,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the stock. Charles Schwab Investment Management Inc. boosted its position in Rithm Capital by 7.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,364,962 shares of the real estate investment trust's stock worth $60,892,000 after purchasing an additional 366,600 shares during the last quarter. Azora Capital LP raised its position in Rithm Capital by 107.6% in the third quarter. Azora Capital LP now owns 4,383,821 shares of the real estate investment trust's stock worth $49,756,000 after acquiring an additional 2,271,671 shares during the period. Wellington Management Group LLP raised its position in Rithm Capital by 37.8% in the third quarter. Wellington Management Group LLP now owns 3,567,917 shares of the real estate investment trust's stock worth $40,496,000 after acquiring an additional 978,954 shares during the period. Soros Fund Management LLC purchased a new stake in shares of Rithm Capital during the 3rd quarter worth approximately $23,835,000. Finally, Van ECK Associates Corp raised its holdings in shares of Rithm Capital by 20.7% in the 3rd quarter. Van ECK Associates Corp now owns 2,004,057 shares of the real estate investment trust's stock worth $21,163,000 after purchasing an additional 343,678 shares during the period. Institutional investors own 44.92% of the company's stock.

Rithm Capital Price Performance

Shares of NYSE:RITM traded up $0.27 on Friday, hitting $10.94. The company's stock had a trading volume of 8,238,325 shares, compared to its average volume of 3,524,098. The company has a market capitalization of $5.69 billion, a PE ratio of 11.05 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 1.35. The company has a 50-day simple moving average of $10.85 and a 200 day simple moving average of $11.12. Rithm Capital Corp. has a 1 year low of $9.97 and a 1 year high of $12.02.

Rithm Capital (NYSE:RITM - Get Free Report) last announced 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 analyst estimates 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 in the previous year, the business posted $0.58 earnings per share. Sell-side analysts forecast that Rithm Capital Corp. will post 1.93 EPS for the current fiscal year.

Rithm Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.14%. The ex-dividend date is Tuesday, December 31st. Rithm Capital's payout ratio is currently 101.01%.

Wall Street Analyst Weigh In

RITM has been the topic of several research reports. Wedbush restated an "outperform" rating and issued a $14.00 target price on shares of Rithm Capital in a research note on Thursday, November 7th. Keefe, Bruyette & Woods lifted their target price on shares of Rithm Capital from $13.00 to $13.50 and gave the stock an "outperform" rating in a research note on Tuesday, December 3rd. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued 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 seven have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $12.94.

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.