Wellington Management Group LLP Purchases 978,954 Shares of Rithm Capital Corp. (NYSE:RITM)

Wellington Management Group LLP increased its holdings in Rithm Capital Corp. (NYSE:RITM - Free Report) by 37.8% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,567,917 shares of the real estate investment trust's stock after purchasing an additional 978,954 shares during the period. Wellington Management Group LLP owned approximately 0.69% of Rithm Capital worth $40,496,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. lifted its stake in shares of Rithm Capital by 154.4% in the second 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 acquired a new position in Rithm Capital during the 3rd quarter worth $43,000. Godsey & Gibb Inc. bought a new stake in Rithm Capital during the third quarter valued at about $51,000. Future Financial Wealth Managment LLC acquired a new stake in shares of Rithm Capital in the third quarter valued at about $73,000. Finally, Summit Securities Group LLC acquired a new stake in shares of Rithm Capital in the second quarter valued at about $74,000. 44.92% of the stock is owned by institutional investors and hedge funds.

Rithm Capital Stock Performance

Shares of RITM traded up $0.04 on Thursday, reaching $11.19. 1,651,448 shares of the stock traded hands, compared to its average volume of 3,500,207. The stock's 50-day moving average price is $10.81 and its 200-day moving average price is $11.12. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.35 and a quick ratio of 1.35. The firm has a market cap of $5.82 billion, a price-to-earnings ratio of 11.25 and a beta of 1.80. Rithm Capital Corp. has a 12 month low of $9.97 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 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 company earned $0.58 earnings per share. Equities analysts forecast 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. Investors of record on Tuesday, October 1st were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 8.94%. The ex-dividend date was Tuesday, October 1st. Rithm Capital's dividend payout ratio (DPR) is presently 101.01%.

Analysts Set New Price Targets

Several analysts recently weighed in on RITM shares. Royal Bank of Canada restated an "outperform" rating and set a $13.00 target price on shares of Rithm Capital in a research note on Thursday, November 21st. Wedbush restated an "outperform" rating and issued a $14.00 price objective on shares of Rithm Capital in a research note on Thursday, November 7th. Finally, Keefe, Bruyette & Woods upped their target price 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. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, Rithm Capital currently has an average rating of "Moderate Buy" and an average price target of $12.94.

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.