Simplify Asset Management Inc. Has $1.50 Million Stock Position in Rithm Capital Corp. (NYSE:RITM)

Simplify Asset Management Inc. raised its holdings in Rithm Capital Corp. (NYSE:RITM) by 276.5% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 134,800 shares of the real estate investment trust’s stock after buying an additional 99,000 shares during the quarter. Simplify Asset Management Inc.’s holdings in Rithm Capital were worth $1,496,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of RITM. Northwestern Mutual Wealth Management Co. increased its position in shares of Rithm Capital by 154.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,513 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 1,525 shares in the last quarter. Bessemer Group Inc. bought a new stake in Rithm Capital during the 1st quarter worth approximately $30,000. Abich Financial Wealth Management LLC raised its stake in shares of Rithm Capital by 56.8% in the first quarter. Abich Financial Wealth Management LLC now owns 4,031 shares of the real estate investment trust’s stock worth $45,000 after purchasing an additional 1,461 shares during the last quarter. Godsey & Gibb Inc. bought a new position in shares of Rithm Capital in the third quarter valued at approximately $51,000. Finally, Future Financial Wealth Managment LLC bought a new stake in Rithm Capital during the third quarter worth $73,000. Institutional investors own 44.92% of the company’s stock.

Rithm Capital Stock Performance

Rithm Capital stock traded down $0.01 during trading on Friday, hitting $10.77. The stock had a trading volume of 672,242 shares, compared to its average volume of 3,523,844. Rithm Capital Corp. has a 1 year low of $9.94 and a 1 year high of $12.02. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.63. The stock’s 50 day moving average is $11.02 and its two-hundred day moving average is $11.16. The stock has a market cap of $5.60 billion, a price-to-earnings ratio of 10.89 and a beta of 1.80.

Rithm Capital (NYSE:RITM) last released its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.54 earnings per share 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 analysts’ expectations of $1.11 billion. Rithm Capital had a net margin of 14.99% and a return on equity of 17.54%. During the same quarter in the prior year, the firm posted $0.58 earnings per share. As a group, analysts predict that Rithm Capital Corp. will post 1.89 EPS for the current year.

Rithm Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Tuesday, October 1st were paid a dividend of $0.25 per share. The ex-dividend date was Tuesday, October 1st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.29%. Rithm Capital’s dividend payout ratio (DPR) is currently 101.01%.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Royal Bank of Canada restated an “outperform” rating and set a $13.00 price target on shares of Rithm Capital in a report on Tuesday, August 13th. JMP Securities upped their target price on Rithm Capital from $11.00 to $12.50 and gave the company a “market outperform” rating in a report on Friday, July 19th. Finally, Wedbush reiterated an “outperform” rating and set a $14.00 price target 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 eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $12.78.

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.