Waterfall Asset Management LLC Makes New $2.21 Million Investment in Rithm Capital Corp. (NYSE:RITM)

Waterfall Asset Management LLC acquired a new stake in shares of Rithm Capital Corp. (NYSE:RITM - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 202,500 shares of the real estate investment trust's stock, valued at approximately $2,209,000. Rithm Capital comprises about 1.1% of Waterfall Asset Management LLC's investment portfolio, making the stock its 12th largest position.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in Rithm Capital by 0.8% during the first quarter. Vanguard Group Inc. now owns 45,815,852 shares of the real estate investment trust's stock valued at $511,305,000 after buying an additional 378,931 shares in the last quarter. Long Pond Capital LP bought a new position in shares of Rithm Capital in the 1st quarter valued at approximately $53,025,000. BlueCrest Capital Management Ltd lifted its holdings in Rithm Capital by 1.0% in the 1st quarter. BlueCrest Capital Management Ltd now owns 2,134,661 shares of the real estate investment trust's stock worth $23,823,000 after purchasing an additional 21,424 shares during the last quarter. Wellington Management Group LLP boosted its position in Rithm Capital by 3.9% during the fourth quarter. Wellington Management Group LLP now owns 2,106,184 shares of the real estate investment trust's stock worth $22,494,000 after purchasing an additional 78,838 shares during the period. Finally, Van ECK Associates Corp grew its holdings in Rithm Capital by 9.4% during the first quarter. Van ECK Associates Corp now owns 2,023,375 shares of the real estate investment trust's stock valued at $22,581,000 after purchasing an additional 174,523 shares during the last quarter. Hedge funds and other institutional investors own 44.92% of the company's stock.

Rithm Capital Stock Performance

RITM traded up $0.06 on Friday, hitting $11.32. 9,151,279 shares of the stock traded hands, compared to its average volume of 3,339,092. The business has a fifty day moving average price of $11.49 and a two-hundred day moving average price of $11.21. The company has a current ratio of 0.49, a quick ratio of 0.49 and a debt-to-equity ratio of 1.81. Rithm Capital Corp. has a 52 week low of $8.87 and a 52 week high of $12.02. The firm has a market capitalization of $5.47 billion, a PE ratio of 7.55 and a beta of 1.80.

Rithm Capital (NYSE:RITM - Get Free Report) last issued its earnings results on Wednesday, July 31st. The real estate investment trust reported $0.47 EPS for the quarter, topping the consensus estimate of $0.42 by $0.05. The firm had revenue of $1.23 billion during the quarter, compared to analysts' expectations of $1.15 billion. Rithm Capital had a return on equity of 18.04% and a net margin of 15.55%. Rithm Capital's quarterly revenue was up 18.4% compared to the same quarter last year. During the same period last year, the business earned $0.62 earnings per share. On average, research analysts predict that Rithm Capital Corp. will post 1.82 EPS for the current fiscal year.

Rithm Capital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Tuesday, October 1st will be paid a $0.25 dividend. The ex-dividend date is Tuesday, October 1st. This represents a $1.00 dividend on an annualized basis and a yield of 8.83%. Rithm Capital's payout ratio is currently 66.67%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on RITM. JMP Securities upped their price objective on shares of Rithm Capital from $11.00 to $12.50 and gave the stock a "market outperform" rating in a report on Friday, July 19th. Royal Bank of Canada restated an "outperform" rating and set a $13.00 price target on shares of Rithm Capital in a report on Tuesday, August 13th. Finally, Wedbush reiterated an "outperform" rating and issued a $13.00 price objective on shares of Rithm Capital in a research note on Friday, August 16th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $12.60.

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.