Koshinski Asset Management Inc. Purchases Shares of 76,199 Rithm Capital Corp. $RITM

Koshinski Asset Management Inc. bought a new position in Rithm Capital Corp. (NYSE:RITM) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 76,199 shares of the real estate investment trust’s stock, valued at approximately $868,000.

A number of other institutional investors and hedge funds also recently modified their holdings of RITM. Bessemer Group Inc. boosted its position in shares of Rithm Capital by 658.9% in the 3rd quarter. Bessemer Group Inc. now owns 2,656 shares of the real estate investment trust’s stock valued at $30,000 after purchasing an additional 2,306 shares during the period. Cullen Frost Bankers Inc. purchased a new stake in Rithm Capital during the second quarter valued at about $30,000. Atlantic Union Bankshares Corp acquired a new position in shares of Rithm Capital in the third quarter worth about $31,000. Mather Group LLC. purchased a new position in shares of Rithm Capital in the third quarter worth approximately $33,000. Finally, Optimum Investment Advisors raised its holdings in shares of Rithm Capital by 200.0% during the third quarter. Optimum Investment Advisors now owns 3,000 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 2,000 shares during the period. 44.92% of the stock is owned by institutional investors and hedge funds.

Rithm Capital Stock Down 4.2%

Rithm Capital stock opened at $10.02 on Tuesday. The company has a current ratio of 0.58, a quick ratio of 0.58 and a debt-to-equity ratio of 2.20. Rithm Capital Corp. has a 1-year low of $9.13 and a 1-year high of $12.74. The firm’s fifty day simple moving average is $11.12 and its 200-day simple moving average is $11.39. The company has a market capitalization of $5.57 billion, a P/E ratio of 9.63 and a beta of 1.20.

Rithm Capital (NYSE:RITM) last posted its earnings results on Tuesday, February 3rd. The real estate investment trust reported $0.74 EPS for the quarter, topping the consensus estimate of $0.55 by $0.19. Rithm Capital had a net margin of 15.55% and a return on equity of 19.74%. The firm had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.24 billion. Sell-side analysts forecast that Rithm Capital Corp. will post 1.93 earnings per share for the current fiscal year.

Rithm Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 30th. Investors of record on Wednesday, December 31st were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 10.0%. The ex-dividend date of this dividend was Wednesday, December 31st. Rithm Capital’s dividend payout ratio (DPR) is presently 96.15%.

Wall Street Analysts Forecast Growth

RITM has been the topic of several research analyst reports. UBS Group set a $15.00 target price on Rithm Capital in a research note on Friday, February 6th. Piper Sandler reaffirmed an “overweight” rating and set a $15.00 price objective (down from $15.50) on shares of Rithm Capital in a research report on Wednesday, February 4th. Keefe, Bruyette & Woods reiterated an “outperform” rating on shares of Rithm Capital in a research note on Thursday, December 18th. JonesTrading reissued a “buy” rating and set a $13.50 target price on shares of Rithm Capital in a research note on Thursday, October 30th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Rithm Capital in a report on Monday, December 29th. Seven analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $14.50.

Rithm Capital Profile

Rithm Capital Corporation is a specialty finance company that originates, acquires and manages structured credit investments collateralized by real estate assets in the United States. The company focuses primarily on senior floating-rate loans secured by multifamily, commercial, industrial and single-family rental properties, aiming to deliver attractive risk-adjusted yields through a diversified portfolio of floating-rate real estate debt.

In addition to senior loans, Rithm Capital invests in residential mortgage-backed securities, including agency and non-agency pools, as well as other real estate-related credit instruments.