Van ECK Associates Corp Acquires 343,678 Shares of Rithm Capital Corp. (NYSE:RITM)

Van ECK Associates Corp boosted its holdings in Rithm Capital Corp. (NYSE:RITM - Free Report) by 20.7% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,004,057 shares of the real estate investment trust's stock after buying an additional 343,678 shares during the quarter. Van ECK Associates Corp owned 0.41% of Rithm Capital worth $21,163,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Northwestern Mutual Wealth Management Co. raised its position in Rithm Capital by 154.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,513 shares of the real estate investment trust's stock worth $27,000 after buying an additional 1,525 shares during the last quarter. Bessemer Group Inc. purchased a new stake in shares of Rithm Capital during the 1st quarter valued at about $30,000. Abich Financial Wealth Management LLC increased its position in shares of Rithm Capital by 56.8% during the 1st quarter. Abich Financial Wealth Management LLC now owns 4,031 shares of the real estate investment trust's stock valued at $45,000 after purchasing an additional 1,461 shares during the last quarter. Godsey & Gibb Inc. purchased a new stake in shares of Rithm Capital during the 3rd quarter valued at about $51,000. Finally, Fidelis Capital Partners LLC purchased a new stake in shares of Rithm Capital during the 1st quarter valued at about $62,000. Hedge funds and other institutional investors own 44.92% of the company's stock.

Rithm Capital Stock Performance

Shares of NYSE:RITM traded up $0.12 during mid-day trading on Tuesday, reaching $10.53. 3,572,604 shares of the company traded hands, compared to its average volume of 3,522,103. The company's 50 day moving average price is $11.15 and its 200-day moving average price is $11.17. The firm has a market cap of $5.09 billion, a PE ratio of 10.63 and a beta of 1.80. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.49 and a quick ratio of 0.49. Rithm Capital Corp. has a 52 week low of $9.68 and a 52 week high of $12.02.

Rithm Capital (NYSE:RITM - Get Free Report) last posted 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. Rithm Capital had a return on equity of 17.91% and a net margin of 14.99%. The business had revenue of $619.51 million during the quarter, compared to the consensus estimate of $1.11 billion. During the same period in the prior year, the company posted $0.58 EPS. On average, equities analysts expect that Rithm Capital Corp. will post 1.85 EPS for the current fiscal year.

Rithm Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Tuesday, October 1st were paid a $0.25 dividend. The ex-dividend date was Tuesday, October 1st. This represents a $1.00 annualized dividend and a yield of 9.50%. Rithm Capital's payout ratio is 101.01%.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Wedbush reaffirmed an "outperform" rating and set a $13.00 price target on shares of Rithm Capital in a research report on Friday, August 16th. JMP Securities upped their price target on shares of Rithm Capital from $11.00 to $12.50 and gave the company a "market outperform" rating in a research report on Friday, July 19th. Finally, Royal Bank of Canada reaffirmed 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 given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target 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.