Quantinno Capital Management LP Purchases 7,434 Shares of Rithm Capital Corp. (NYSE:RITM)

Quantinno Capital Management LP lifted its position in shares of Rithm Capital Corp. (NYSE:RITM) by 74.1% during the third quarter, Holdings Channel.com reports. The firm owned 17,470 shares of the real estate investment trust’s stock after buying an additional 7,434 shares during the quarter. Quantinno Capital Management LP’s holdings in Rithm Capital were worth $198,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. increased its position in Rithm Capital by 154.4% during the 2nd 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 period. Truvestments Capital LLC acquired a new position in shares of Rithm Capital in the third quarter valued at about $43,000. Godsey & Gibb Inc. bought a new position in Rithm Capital during the third quarter worth about $51,000. Future Financial Wealth Managment LLC acquired a new stake in Rithm Capital in the 3rd quarter worth about $73,000. Finally, Summit Securities Group LLC bought a new stake in Rithm Capital in the 2nd quarter valued at about $74,000. 44.92% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the stock. Keefe, Bruyette & Woods raised their target price on shares of Rithm Capital from $13.00 to $13.50 and gave the stock an “outperform” rating in a 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 report on Thursday, November 21st. Finally, Wedbush reissued an “outperform” rating and set a $14.00 target price on shares of Rithm Capital in a report on Thursday, November 7th. One equities research analyst has rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, Rithm Capital currently has a consensus rating of “Moderate Buy” and an average target price of $12.94.

Rithm Capital Trading Up 0.6 %

Shares of RITM stock opened at $11.19 on Tuesday. Rithm Capital Corp. has a fifty-two week low of $9.97 and a fifty-two week high of $12.02. The stock’s fifty day moving average price is $10.84 and its two-hundred day moving average price is $11.13. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.35 and a current ratio of 1.35. The company has a market cap of $5.81 billion, a PE ratio of 11.30 and a beta of 1.80.

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, beating 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 business had revenue of $619.51 million for the quarter, compared to analyst estimates of $1.11 billion. During the same period last year, the firm posted $0.58 earnings per share. Equities analysts predict that Rithm Capital Corp. will post 1.93 EPS for the current fiscal year.

Rithm Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 8.94%. Rithm Capital’s dividend payout ratio is 101.01%.

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.