Penserra Capital Management LLC Acquires 19,970 Shares of Rithm Capital Corp. (NYSE:RITM)

Penserra Capital Management LLC lifted its holdings in Rithm Capital Corp. (NYSE:RITM) by 17.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 135,365 shares of the real estate investment trust’s stock after acquiring an additional 19,970 shares during the period. Penserra Capital Management LLC’s holdings in Rithm Capital were worth $1,536,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of RITM. Charles Schwab Investment Management Inc. increased its holdings in shares of Rithm Capital by 7.3% during the third 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 purchasing an additional 366,600 shares during the period. Van ECK Associates Corp increased its stake in Rithm Capital by 20.7% during the 3rd quarter. Van ECK Associates Corp now owns 2,004,057 shares of the real estate investment trust’s stock worth $21,163,000 after acquiring an additional 343,678 shares during the period. Bank of New York Mellon Corp raised its holdings in Rithm Capital by 10.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,753,224 shares of the real estate investment trust’s stock valued at $19,128,000 after acquiring an additional 158,857 shares in the last quarter. Mackenzie Financial Corp lifted its position in shares of Rithm Capital by 15.5% during the 2nd quarter. Mackenzie Financial Corp now owns 1,319,014 shares of the real estate investment trust’s stock valued at $14,390,000 after acquiring an additional 176,711 shares during the period. Finally, Seven Grand Managers LLC acquired a new stake in shares of Rithm Capital during the 3rd quarter worth $11,918,000. 44.92% of the stock is owned by institutional investors.

Rithm Capital Stock Performance

Shares of Rithm Capital stock opened at $11.13 on Wednesday. The company’s 50 day moving average price is $10.89 and its two-hundred day moving average price is $11.13. The firm has a market capitalization of $5.78 billion, a P/E ratio of 11.24 and a beta of 1.80. Rithm Capital Corp. has a fifty-two week low of $9.97 and a fifty-two week 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 1.35.

Rithm Capital (NYSE:RITM) last issued its quarterly earnings data 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 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 analyst estimates of $1.11 billion. During the same quarter in the previous year, the company posted $0.58 EPS. On average, equities analysts forecast that Rithm Capital Corp. will post 1.89 earnings per share for the current fiscal year.

Rithm Capital Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Tuesday, October 1st were given a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.98%. Rithm Capital’s dividend payout ratio (DPR) is currently 101.01%.

Wall Street Analysts Forecast Growth

RITM has been the subject of a number of analyst reports. Wedbush reaffirmed an “outperform” rating and issued a $14.00 price target on shares of Rithm Capital in a research note on Thursday, November 7th. Royal Bank of Canada restated an “outperform” rating and issued a $13.00 target price on shares of Rithm Capital in a research report on Thursday, November 21st. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price 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.