Exchange Traded Concepts LLC Buys 58,356 Shares of Rithm Capital Corp. (NYSE:RITM)

Exchange Traded Concepts LLC lifted its position in Rithm Capital Corp. (NYSE:RITM - Free Report) by 31.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 244,796 shares of the real estate investment trust's stock after purchasing an additional 58,356 shares during the period. Exchange Traded Concepts LLC owned about 0.05% of Rithm Capital worth $2,778,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. raised its stake in Rithm Capital by 154.4% during 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. Bessemer Group Inc. purchased a new position in shares of Rithm Capital in the first quarter worth $30,000. Abich Financial Wealth Management LLC boosted its position in shares of Rithm Capital by 56.8% during the first 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. Fidelis Capital Partners LLC purchased a new position in Rithm Capital during the first quarter valued at $62,000. Finally, Future Financial Wealth Managment LLC bought a new stake in Rithm Capital in the 1st quarter valued at $71,000. 44.92% of the stock is currently owned by institutional investors.

Rithm Capital Trading Up 0.8 %

Shares of RITM traded up $0.09 during midday trading on Tuesday, hitting $10.86. The stock had a trading volume of 5,369,086 shares, compared to its average volume of 3,452,214. Rithm Capital Corp. has a 1 year low of $8.87 and a 1 year high of $12.02. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.49 and a quick ratio of 0.49. The stock's 50 day moving average is $11.36 and its 200 day moving average is $11.19. The firm has a market cap of $5.25 billion, a PE ratio of 7.24 and a beta of 1.80.

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

Rithm Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Tuesday, October 1st will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 9.21%. The ex-dividend date is Tuesday, October 1st. Rithm Capital's payout ratio is currently 66.67%.

Analyst Upgrades and Downgrades

RITM has been the topic of several recent research reports. JMP Securities upped their price objective on 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 reiterated an "outperform" rating and set a $13.00 price objective on shares of Rithm Capital in a research report on Tuesday, August 13th. Finally, Wedbush restated an "outperform" rating and issued a $13.00 target price on shares of Rithm Capital in a report on Friday, August 16th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, Rithm Capital currently has a consensus rating of "Moderate Buy" and a consensus target price of $12.67.

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.