UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Rithm Capital Corp. (NYSE:RITM - Free Report) by 102.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,173,045 shares of the real estate investment trust's stock after purchasing an additional 592,209 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.23% of Rithm Capital worth $13,314,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Northwestern Mutual Wealth Management Co. lifted its holdings 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 valued at $27,000 after purchasing an additional 1,525 shares in the last quarter. Truvestments Capital LLC purchased a new position in shares of Rithm Capital in the third quarter worth about $43,000. Godsey & Gibb Inc. acquired a new position in Rithm Capital during the third quarter worth about $51,000. Future Financial Wealth Managment LLC purchased a new stake in Rithm Capital during the 3rd quarter valued at about $73,000. Finally, Summit Securities Group LLC acquired a new stake in Rithm Capital in the 2nd quarter valued at about $74,000. Hedge funds and other institutional investors own 44.92% of the company's stock.
Rithm Capital Trading Up 1.2 %
NYSE:RITM traded up $0.13 on Friday, reaching $11.24. The company's stock had a trading volume of 2,449,500 shares, compared to its average volume of 3,168,629. Rithm Capital Corp. has a 12-month low of $9.97 and a 12-month high of $12.02. The stock has a 50 day moving average price of $10.80 and a 200 day moving average price of $11.12. The firm has a market cap of $5.84 billion, a price-to-earnings ratio of 11.35 and a beta of 1.80. 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 (NYSE:RITM - Get Free Report) last issued its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate 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 analyst estimates of $1.11 billion. During the same period in the previous year, the firm earned $0.58 EPS. On average, equities analysts anticipate that Rithm Capital Corp. will post 1.89 EPS for the current fiscal year.
Rithm Capital Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Tuesday, October 1st were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 8.90%. The ex-dividend date of this dividend was Tuesday, October 1st. Rithm Capital's payout ratio is 101.01%.
Wall Street Analysts Forecast Growth
Several research analysts have recently weighed in on RITM shares. Keefe, Bruyette & Woods boosted their target price on Rithm Capital from $13.00 to $13.50 and gave the stock an "outperform" rating in a report on Tuesday, December 3rd. Royal Bank of Canada reissued an "outperform" rating and set a $13.00 price objective on shares of Rithm Capital in a research note on Thursday, November 21st. Finally, Wedbush reaffirmed an "outperform" rating and issued a $14.00 target price on shares of Rithm Capital in a research note on Thursday, November 7th. One investment analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $12.94.
View Our Latest Report on Rithm Capital
Rithm Capital Company Profile
(
Free Report)
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.
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