Soros Fund Management LLC Makes New $23.84 Million Investment in Rithm Capital Corp. (NYSE:RITM)

Soros Fund Management LLC purchased a new position in Rithm Capital Corp. (NYSE:RITM - Free Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,100,000 shares of the real estate investment trust's stock, valued at approximately $23,835,000. Soros Fund Management LLC owned about 0.40% of Rithm Capital as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. lifted its position in shares of 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 worth $27,000 after buying an additional 1,525 shares during the last quarter. Truvestments Capital LLC purchased a new stake in Rithm Capital in the third quarter valued at $43,000. Godsey & Gibb Inc. acquired a new position in Rithm Capital in the third quarter valued at $51,000. Future Financial Wealth Managment LLC acquired a new stake in shares of Rithm Capital during the third quarter worth about $73,000. Finally, Summit Securities Group LLC purchased a new stake in shares of Rithm Capital in the 2nd quarter valued at about $74,000. Institutional investors and hedge funds own 44.92% of the company's stock.

Rithm Capital Price Performance

RITM stock traded up $0.11 on Friday, reaching $11.22. 898,207 shares of the company's stock were exchanged, compared to its average volume of 3,505,710. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.63. Rithm Capital Corp. has a twelve month low of $9.97 and a twelve month high of $12.02. The firm has a market cap of $5.83 billion, a PE ratio of 11.22 and a beta of 1.80. The stock has a fifty day moving average of $10.80 and a 200-day moving average of $11.12.

Rithm Capital (NYSE:RITM - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.54 EPS for the quarter, topping analysts' consensus estimates of $0.42 by $0.12. Rithm Capital had a net margin of 14.99% and a return on equity of 17.54%. The firm had revenue of $619.51 million for the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the previous year, the firm earned $0.58 earnings per share. As a group, equities analysts predict that Rithm Capital Corp. will post 1.89 EPS for the current fiscal year.

Rithm Capital Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Tuesday, October 1st were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 8.91%. The ex-dividend date was Tuesday, October 1st. Rithm Capital's dividend payout ratio (DPR) is presently 101.01%.

Wall Street Analysts Forecast Growth

RITM has been the subject of several research analyst reports. Keefe, Bruyette & Woods increased their price objective on Rithm Capital from $13.00 to $13.50 and gave the company an "outperform" rating in a report on Tuesday. Wedbush reissued an "outperform" rating and set a $14.00 price target on shares of Rithm Capital in a report on Thursday, November 7th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and set a $13.00 price objective on shares of Rithm Capital in a research note on Thursday, November 21st. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $12.89.

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.