Wealthcare Advisory Partners LLC Has $287,000 Stock Holdings in Rithm Capital Corp. $RITM

Wealthcare Advisory Partners LLC raised its holdings in Rithm Capital Corp. (NYSE:RITM) by 5.9% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 25,441 shares of the real estate investment trust’s stock after purchasing an additional 1,414 shares during the quarter. Wealthcare Advisory Partners LLC’s holdings in Rithm Capital were worth $287,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Kingstone Capital Partners Texas LLC bought a new position in shares of Rithm Capital during the second quarter worth approximately $96,027,000. KBC Group NV increased its stake in shares of Rithm Capital by 24.0% during the first quarter. KBC Group NV now owns 22,846 shares of the real estate investment trust’s stock worth $262,000 after purchasing an additional 4,423 shares during the period. Belpointe Asset Management LLC increased its stake in shares of Rithm Capital by 84.2% during the first quarter. Belpointe Asset Management LLC now owns 54,520 shares of the real estate investment trust’s stock worth $624,000 after purchasing an additional 24,920 shares during the period. Edgestream Partners L.P. increased its stake in shares of Rithm Capital by 341.5% during the first quarter. Edgestream Partners L.P. now owns 688,882 shares of the real estate investment trust’s stock worth $7,888,000 after purchasing an additional 532,866 shares during the period. Finally, Amalgamated Bank increased its stake in shares of Rithm Capital by 5.9% during the first quarter. Amalgamated Bank now owns 27,064 shares of the real estate investment trust’s stock worth $310,000 after purchasing an additional 1,502 shares during the period. Institutional investors own 44.92% of the company’s stock.

Rithm Capital Trading Down 1.2%

Shares of RITM stock opened at $10.66 on Friday. The stock’s fifty day moving average price is $12.02 and its two-hundred day moving average price is $11.51. The company has a market cap of $5.65 billion, a PE ratio of 8.20 and a beta of 1.31. Rithm Capital Corp. has a fifty-two week low of $9.13 and a fifty-two week high of $12.74. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.40 and a current ratio of 0.40.

Rithm Capital (NYSE:RITM) last issued its earnings results on Monday, July 28th. The real estate investment trust reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.03. Rithm Capital had a return on equity of 18.89% and a net margin of 16.72%.The firm had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.18 billion. 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 announced a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Wednesday, October 1st will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 9.4%. The ex-dividend date of this dividend is Wednesday, October 1st. Rithm Capital’s dividend payout ratio (DPR) is currently 76.92%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on RITM shares. Keefe, Bruyette & Woods increased their target price on Rithm Capital from $13.50 to $14.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 29th. Royal Bank Of Canada increased their target price on Rithm Capital from $13.00 to $14.00 and gave the stock an “outperform” rating in a research note on Friday, August 1st. Weiss Ratings reiterated a “buy (b)” rating on shares of Rithm Capital in a research note on Wednesday. UBS Group increased their target price on Rithm Capital from $14.00 to $16.00 and gave the stock a “buy” rating in a research note on Wednesday, September 3rd. Finally, BTIG Research reissued a “buy” rating and set a $16.00 price target on shares of Rithm Capital in a research report on Wednesday, September 17th. One analyst has rated the stock with a Strong Buy rating and nine have assigned a Buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $14.25.

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.