Diversify Advisory Services LLC Buys Shares of 17,666 Rithm Capital Corp. (NYSE:RITM)

Diversify Advisory Services LLC purchased a new position in shares of Rithm Capital Corp. (NYSE:RITM) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 17,666 shares of the real estate investment trust’s stock, valued at approximately $189,000.

Several other institutional investors and hedge funds also recently made changes to their positions in RITM. Charles Schwab Investment Management Inc. grew its holdings in Rithm Capital by 7.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,364,962 shares of the real estate investment trust’s stock worth $60,892,000 after acquiring an additional 366,600 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Rithm Capital by 119.1% during the third quarter. JPMorgan Chase & Co. now owns 4,608,008 shares of the real estate investment trust’s stock worth $52,301,000 after purchasing an additional 2,504,529 shares during the period. Van ECK Associates Corp grew its stake in shares of Rithm Capital by 20.7% in the third quarter. Van ECK Associates Corp now owns 2,004,057 shares of the real estate investment trust’s stock worth $21,163,000 after purchasing an additional 343,678 shares during the last quarter. Neo Ivy Capital Management acquired a new stake in Rithm Capital in the third quarter valued at $1,476,000. Finally, Waterfall Asset Management LLC bought a new position in Rithm Capital during the 2nd quarter worth $2,209,000. Institutional investors and hedge funds own 44.92% of the company’s stock.

Rithm Capital Trading Up 0.1 %

NYSE RITM opened at $11.28 on Friday. 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 52 week low of $9.97 and a 52 week high of $12.02. The business has a 50 day moving average price of $11.02 and a 200-day moving average price of $11.12. The company has a market cap of $5.86 billion, a price-to-earnings ratio of 11.39 and a beta of 1.79.

Rithm Capital (NYSE:RITM) last released its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.12. The firm had revenue of $619.51 million for the quarter, compared to the consensus estimate of $1.11 billion. Rithm Capital had a net margin of 14.99% and a return on equity of 17.54%. During the same quarter in the prior year, the company posted $0.58 earnings per share. As a group, equities analysts expect that Rithm Capital Corp. will post 1.95 earnings per share for the current fiscal year.

Rithm Capital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be paid a dividend of $0.25 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.00 dividend on an annualized basis and a yield of 8.87%. Rithm Capital’s dividend payout ratio (DPR) is currently 101.01%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on RITM. Keefe, Bruyette & Woods raised their price objective on Rithm Capital from $13.00 to $13.50 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $13.00 price objective on shares of Rithm Capital in a research note on Thursday, November 21st. JMP Securities reissued a “market outperform” rating and set a $12.50 target price on shares of Rithm Capital in a research note on Thursday. B. Riley upgraded Rithm Capital to a “strong-buy” rating in a report on Tuesday, January 7th. Finally, Wedbush reissued an “outperform” rating and issued a $14.00 price objective on shares of Rithm Capital in a research note on Thursday, November 7th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $12.94.

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.