Truvestments Capital LLC Buys Shares of 3,803 Rithm Capital Corp. (NYSE:RITM)

Truvestments Capital LLC bought a new stake in Rithm Capital Corp. (NYSE:RITM) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm bought 3,803 shares of the real estate investment trust’s stock, valued at approximately $43,000.

A number of other large investors have also recently modified their holdings of the business. AQR Capital Management LLC boosted its holdings in shares of Rithm Capital by 4.1% in the 2nd quarter. AQR Capital Management LLC now owns 29,848 shares of the real estate investment trust’s stock valued at $326,000 after purchasing an additional 1,183 shares in the last quarter. Empowered Funds LLC boosted its holdings in shares of Rithm Capital by 8.3% in the 3rd quarter. Empowered Funds LLC now owns 15,824 shares of the real estate investment trust’s stock valued at $176,000 after purchasing an additional 1,216 shares in the last quarter. Founders Financial Alliance LLC boosted its holdings in shares of Rithm Capital by 2.6% in the 2nd quarter. Founders Financial Alliance LLC now owns 50,942 shares of the real estate investment trust’s stock valued at $556,000 after purchasing an additional 1,286 shares in the last quarter. Abich Financial Wealth Management LLC boosted its holdings in shares of Rithm Capital by 56.8% in the 1st quarter. Abich Financial Wealth Management LLC now owns 4,031 shares of the real estate investment trust’s stock valued at $45,000 after purchasing an additional 1,461 shares in the last quarter. Finally, Atomi Financial Group Inc. boosted its holdings in shares of Rithm Capital by 6.4% in the 3rd quarter. Atomi Financial Group Inc. now owns 24,711 shares of the real estate investment trust’s stock valued at $280,000 after purchasing an additional 1,481 shares in the last quarter. Institutional investors and hedge funds own 44.92% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on RITM shares. Royal Bank of Canada reissued an “outperform” rating and set a $13.00 price objective on shares of Rithm Capital in a report on Thursday, November 21st. Wedbush reissued an “outperform” rating and set a $14.00 price objective on shares of Rithm Capital in a report on Thursday, November 7th. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $12.78.

Rithm Capital Stock Up 0.4 %

Shares of RITM opened at $11.18 on Thursday. The company has a market capitalization of $5.81 billion, a PE ratio of 11.29 and a beta of 1.80. Rithm Capital Corp. has a 12 month low of $9.97 and a 12 month high of $12.02. The stock’s 50-day moving average price is $10.87 and its two-hundred day moving average price is $11.13. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.63.

Rithm Capital (NYSE:RITM) last announced its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.54 EPS 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 return on equity of 17.54% and a net margin of 14.99%. During the same period in the previous year, the business earned $0.58 EPS. On average, analysts anticipate that Rithm Capital Corp. will post 1.89 EPS for the current year.

Rithm Capital Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Tuesday, October 1st were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 8.95%. The ex-dividend date was Tuesday, October 1st. Rithm Capital’s payout ratio is presently 101.01%.

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.