Wilmington Savings Fund Society FSB Takes Position in Rithm Capital Corp. (NYSE:RITM)

Wilmington Savings Fund Society FSB bought a new position in shares of Rithm Capital Corp. (NYSE:RITM) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 3,820 shares of the real estate investment trust’s stock, valued at approximately $43,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Bank of New York Mellon Corp raised its holdings in Rithm Capital by 10.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,753,224 shares of the real estate investment trust’s stock worth $19,128,000 after purchasing an additional 158,857 shares during the last quarter. Summit Securities Group LLC acquired a new position in Rithm Capital in the second quarter valued at $74,000. HB Wealth Management LLC boosted its position in Rithm Capital by 16.8% during the second quarter. HB Wealth Management LLC now owns 13,722 shares of the real estate investment trust’s stock valued at $150,000 after acquiring an additional 1,978 shares during the last quarter. Burney Co. grew its holdings in Rithm Capital by 133.4% during the 2nd quarter. Burney Co. now owns 114,598 shares of the real estate investment trust’s stock worth $1,250,000 after acquiring an additional 65,507 shares during the period. Finally, Rothschild Investment LLC bought a new position in shares of Rithm Capital in the 2nd quarter worth about $313,000. 44.92% of the stock is owned by institutional investors.

Rithm Capital Stock Performance

Shares of RITM stock opened at $10.94 on Monday. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.63. The firm has a fifty day simple moving average of $10.85 and a two-hundred day simple moving average of $11.11. Rithm Capital Corp. has a 12 month low of $9.97 and a 12 month high of $12.02. The firm has a market capitalization of $5.69 billion, a PE ratio of 11.05 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 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.12. Rithm Capital had a net margin of 14.99% and a return on equity of 17.54%. The company had revenue of $619.51 million for the quarter, compared to analyst estimates of $1.11 billion. During the same quarter in the prior year, the business posted $0.58 EPS. Analysts forecast that Rithm Capital Corp. will post 1.93 EPS for the current fiscal year.

Rithm Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 9.14%. The ex-dividend date of this dividend is Tuesday, December 31st. Rithm Capital’s dividend payout ratio is 101.01%.

Analysts Set New Price Targets

RITM has been the topic of several research analyst reports. Wedbush restated an “outperform” rating and set a $14.00 target price on shares of Rithm Capital in a research report on Thursday, November 7th. Keefe, Bruyette & Woods raised their price objective on shares of Rithm Capital from $13.00 to $13.50 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $13.00 target price on shares of Rithm Capital in a research report on Thursday, November 21st. One analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $12.94.

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.