Stifel Financial Corp Raises Stock Position in Rithm Capital Corp. (NYSE:RITM)

Stifel Financial Corp boosted its holdings in Rithm Capital Corp. (NYSE:RITM - Free Report) by 39.4% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 675,918 shares of the real estate investment trust's stock after purchasing an additional 191,080 shares during the quarter. Stifel Financial Corp owned about 0.13% of Rithm Capital worth $7,672,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of RITM. Northwestern Mutual Wealth Management Co. grew its stake in shares of 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 valued at $27,000 after buying an additional 1,525 shares during the period. Truvestments Capital LLC bought a new stake in shares of Rithm Capital during the third quarter valued at approximately $43,000. Godsey & Gibb Inc. bought a new stake in shares of Rithm Capital during the third quarter valued at approximately $51,000. Future Financial Wealth Managment LLC acquired a new position in shares of Rithm Capital during the third quarter worth approximately $73,000. Finally, Summit Securities Group LLC bought a new position in shares of Rithm Capital in the 2nd quarter worth $74,000. 44.92% of the stock is currently owned by institutional investors.

Rithm Capital Stock Down 0.4 %

Shares of RITM traded down $0.04 during trading hours on Friday, reaching $11.12. 3,042,851 shares of the stock traded hands, compared to its average volume of 3,502,906. Rithm Capital Corp. has a 52 week low of $9.97 and a 52 week high of $12.02. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.63. The stock has a fifty day simple moving average of $10.82 and a 200 day simple moving average of $11.12. The company has a market cap of $5.78 billion, a price-to-earnings ratio of 11.23 and a beta of 1.80.

Rithm Capital (NYSE:RITM - Get Free Report) last released its earnings results 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. The company had revenue of $619.51 million for the quarter, compared to analysts' expectations of $1.11 billion. Rithm Capital had a return on equity of 17.54% and a net margin of 14.99%. During the same period in the previous year, the business posted $0.58 EPS. On average, equities analysts forecast that Rithm Capital Corp. will post 1.93 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 paid a $0.25 dividend. The ex-dividend date was Tuesday, October 1st. This represents a $1.00 dividend on an annualized basis and a yield of 8.99%. Rithm Capital's dividend payout ratio is 101.01%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the stock. Keefe, Bruyette & Woods boosted their price target on shares of Rithm Capital from $13.00 to $13.50 and gave the company an "outperform" rating in a research note on Tuesday, December 3rd. Royal Bank of Canada reissued an "outperform" rating and set a $13.00 target price on shares of Rithm Capital in a research report on Thursday, November 21st. Finally, Wedbush reaffirmed an "outperform" rating and issued a $14.00 price target on shares of Rithm Capital in a research report on Thursday, November 7th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $12.94.

Rithm Capital Company 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.