Wealth Enhancement Advisory Services LLC Has $206,000 Stock Holdings in Rithm Capital Corp. (NYSE:RITM)

Wealth Enhancement Advisory Services LLC boosted its position in Rithm Capital Corp. (NYSE:RITM) by 63.5% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 18,167 shares of the real estate investment trust’s stock after purchasing an additional 7,057 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Rithm Capital were worth $206,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of RITM. PFG Investments LLC raised its stake in Rithm Capital by 2.9% in the third quarter. PFG Investments LLC now owns 65,262 shares of the real estate investment trust’s stock valued at $741,000 after buying an additional 1,825 shares during the period. Allworth Financial LP raised its stake in Rithm Capital by 281.2% in the 3rd quarter. Allworth Financial LP now owns 8,695 shares of the real estate investment trust’s stock valued at $99,000 after acquiring an additional 6,414 shares during the period. Highland Capital Management LLC lifted its holdings in Rithm Capital by 10.2% during the 3rd quarter. Highland Capital Management LLC now owns 54,125 shares of the real estate investment trust’s stock valued at $614,000 after purchasing an additional 5,000 shares during the last quarter. International Assets Investment Management LLC boosted its position in Rithm Capital by 895.6% during the third quarter. International Assets Investment Management LLC now owns 167,617 shares of the real estate investment trust’s stock worth $1,902,000 after purchasing an additional 150,782 shares during the period. Finally, Calton & Associates Inc. acquired a new position in shares of Rithm Capital in the third quarter valued at $763,000. Institutional investors own 44.92% of the company’s stock.

Rithm Capital Trading Down 0.8 %

Shares of NYSE:RITM opened at $10.73 on Wednesday. The business’s 50 day simple moving average is $11.04 and its 200 day simple moving average is $11.16. Rithm Capital Corp. has a 1 year low of $9.68 and a 1 year high of $12.02. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.35 and a quick ratio of 0.49. The company has a market capitalization of $5.57 billion, a P/E ratio of 10.83 and a beta of 1.80.

Rithm Capital (NYSE:RITM) last released its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.42 by $0.12. Rithm Capital had a return on equity of 17.54% and a net margin of 14.99%. The company had revenue of $619.51 million for the quarter, compared to analyst estimates of $1.11 billion. During the same period in the prior year, the firm posted $0.58 EPS. On average, research analysts anticipate that Rithm Capital Corp. will post 1.89 EPS for the current fiscal year.

Rithm Capital Dividend Announcement

The company also recently announced 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 yield of 9.32%. The ex-dividend date was Tuesday, October 1st. Rithm Capital’s dividend payout ratio is currently 101.01%.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. Wedbush reissued an “outperform” rating and issued a $14.00 price target on shares of Rithm Capital in a report on Thursday, November 7th. JMP Securities increased their target price on Rithm Capital from $11.00 to $12.50 and gave the stock a “market outperform” rating in a research note on Friday, July 19th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $13.00 price target on shares of Rithm Capital in a research note on Tuesday, August 13th. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.78.

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.