Simplify Asset Management Inc. Purchases 99,000 Shares of Rithm Capital Corp. (NYSE:RITM)

Simplify Asset Management Inc. raised its holdings in Rithm Capital Corp. (NYSE:RITM - Free Report) by 276.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 134,800 shares of the real estate investment trust's stock after purchasing an additional 99,000 shares during the period. Simplify Asset Management Inc.'s holdings in Rithm Capital were worth $1,496,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Van ECK Associates Corp grew its stake in Rithm Capital by 20.7% during the third quarter. Van ECK Associates Corp now owns 2,004,057 shares of the real estate investment trust's stock worth $21,163,000 after buying an additional 343,678 shares during the period. Natixis bought a new position in Rithm Capital during the 1st quarter valued at $689,000. Waterfall Asset Management LLC acquired a new stake in shares of Rithm Capital during the second quarter worth $2,209,000. SG Americas Securities LLC acquired a new stake in shares of Rithm Capital during the third quarter worth $4,112,000. Finally, Vanguard Group Inc. increased its holdings in shares of Rithm Capital by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 45,815,852 shares of the real estate investment trust's stock worth $511,305,000 after acquiring an additional 378,931 shares during the period. Institutional investors and hedge funds own 44.92% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on RITM. JMP Securities increased 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 reissued an "outperform" rating and set a $13.00 target price on shares of Rithm Capital in a research note on Tuesday, August 13th. Finally, Wedbush restated an "outperform" rating and set a $14.00 price objective on shares of Rithm Capital in a research report on Thursday, November 7th. 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 data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $12.78.

Rithm Capital Stock Down 0.5 %

Shares of NYSE RITM traded down $0.05 during mid-day trading on Friday, reaching $10.73. The company had a trading volume of 3,374,261 shares, compared to its average volume of 3,536,382. The stock has a fifty day moving average of $10.99 and a two-hundred day moving average of $11.15. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.35 and a current ratio of 1.35. The company has a market capitalization of $5.58 billion, a price-to-earnings ratio of 10.84 and a beta of 1.80. Rithm Capital Corp. has a 12-month low of $9.94 and a 12-month 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 (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 period in the prior year, the firm earned $0.58 earnings per share. As a group, equities research analysts expect that Rithm Capital Corp. will post 1.89 EPS for the current year.

Rithm Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Tuesday, October 1st were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 9.32%. The ex-dividend date was Tuesday, October 1st. Rithm Capital's payout ratio is presently 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.