LMR Partners LLP Acquires New Position in Rithm Capital Corp. (NYSE:RITM)

LMR Partners LLP purchased a new position in shares of Rithm Capital Corp. (NYSE:RITM - Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm purchased 650,000 shares of the real estate investment trust's stock, valued at approximately $7,378,000. LMR Partners LLP owned 0.13% of Rithm Capital as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Empowered Funds LLC purchased a new stake in shares of Rithm Capital during the 1st quarter worth about $136,000. Sei Investments Co. increased its position in shares of Rithm Capital by 725.7% in the first quarter. Sei Investments Co. now owns 395,384 shares of the real estate investment trust's stock worth $4,412,000 after acquiring an additional 347,499 shares in the last quarter. Russell Investments Group Ltd. raised its stake in shares of Rithm Capital by 196.3% in the 1st quarter. Russell Investments Group Ltd. now owns 26,182 shares of the real estate investment trust's stock valued at $293,000 after acquiring an additional 17,345 shares during the period. Avantax Advisory Services Inc. lifted its holdings in shares of Rithm Capital by 10.3% during the 1st quarter. Avantax Advisory Services Inc. now owns 23,682 shares of the real estate investment trust's stock valued at $264,000 after acquiring an additional 2,214 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System boosted its position in Rithm Capital by 0.7% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 445,905 shares of the real estate investment trust's stock worth $4,976,000 after purchasing an additional 2,937 shares during the period. Institutional investors and hedge funds own 44.92% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on RITM. Wedbush reissued an "outperform" rating and issued a $14.00 price objective on shares of Rithm Capital in a research report on Thursday, November 7th. Royal Bank of Canada reissued an "outperform" rating and set a $13.00 price target on shares of Rithm Capital in a research report on Tuesday, August 13th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat.com, Rithm Capital presently has a consensus rating of "Moderate Buy" and an average target price of $12.78.

Rithm Capital Stock Up 0.1 %

RITM traded up $0.01 on Tuesday, reaching $10.67. The company's stock had a trading volume of 3,321,286 shares, compared to its average volume of 3,534,612. The business's 50 day moving average is $10.99 and its 200 day moving average is $11.15. Rithm Capital Corp. has a 1 year low of $9.97 and a 1 year high of $12.02. The stock has a market cap of $5.55 billion, a price-to-earnings ratio of 10.78 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.

Rithm Capital (NYSE:RITM - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 quarter in the previous year, the firm earned $0.58 earnings per share. As a group, research analysts forecast that Rithm Capital Corp. will post 1.89 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. Investors of record on Tuesday, October 1st were paid 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 yield of 9.37%. Rithm Capital's dividend payout ratio (DPR) is 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.