Sigma Planning Corp Grows Stock Holdings in Rithm Capital Corp. (NYSE:RITM)

Sigma Planning Corp increased its stake in Rithm Capital Corp. (NYSE:RITM) by 137.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 74,661 shares of the real estate investment trust’s stock after acquiring an additional 43,189 shares during the period. Sigma Planning Corp’s holdings in Rithm Capital were worth $847,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. AQR Capital Management LLC raised its stake in shares of Rithm Capital by 4.1% in the second quarter. AQR Capital Management LLC now owns 29,848 shares of the real estate investment trust’s stock valued at $326,000 after acquiring an additional 1,183 shares in the last quarter. Founders Financial Alliance LLC raised its stake in shares of Rithm Capital by 2.6% in the second quarter. Founders Financial Alliance LLC now owns 50,942 shares of the real estate investment trust’s stock valued at $556,000 after acquiring an additional 1,286 shares in the last quarter. Abich Financial Wealth Management LLC raised its stake in shares of Rithm Capital by 56.8% in the first quarter. Abich Financial Wealth Management LLC now owns 4,031 shares of the real estate investment trust’s stock valued at $45,000 after acquiring an additional 1,461 shares in the last quarter. Atomi Financial Group Inc. raised its stake in shares of Rithm Capital by 6.4% in the third quarter. Atomi Financial Group Inc. now owns 24,711 shares of the real estate investment trust’s stock valued at $280,000 after acquiring an additional 1,481 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised 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 valued at $27,000 after acquiring an additional 1,525 shares in the last quarter. 44.92% of the stock is currently owned by institutional investors and hedge funds.

Rithm Capital Stock Up 0.1 %

RITM opened at $10.74 on Thursday. The business’s 50-day simple moving average is $11.02 and its 200-day simple moving average is $11.16. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.35 and a current ratio of 1.35. Rithm Capital Corp. has a one year low of $9.92 and a one year high of $12.02. The stock has a market capitalization of $5.58 billion, a P/E ratio of 10.85 and a beta of 1.80.

Rithm Capital (NYSE:RITM) last posted 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. Rithm Capital had a return on equity of 17.54% and a net margin of 14.99%. The business had revenue of $619.51 million for the quarter, compared to analysts’ expectations of $1.11 billion. During the same quarter in the previous year, the firm earned $0.58 earnings per share. Analysts anticipate that Rithm Capital Corp. will post 1.89 EPS for the current year.

Rithm Capital Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Investors of record on Tuesday, October 1st were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.31%. The ex-dividend date was Tuesday, October 1st. Rithm Capital’s dividend payout ratio is currently 101.01%.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Wedbush restated an “outperform” rating and issued a $14.00 price target on shares of Rithm Capital in a research note on Thursday, November 7th. JMP Securities raised their price target on Rithm Capital from $11.00 to $12.50 and gave the company 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 assigned a buy rating to the company’s stock. According to MarketBeat.com, Rithm Capital currently has an average rating of “Moderate Buy” and a consensus price target of $12.78.

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.