Calton & Associates Inc. Acquires New Position in Rithm Capital Corp. (NYSE:RITM)

Calton & Associates Inc. bought a new position in shares of Rithm Capital Corp. (NYSE:RITM) during the 3rd quarter, HoldingsChannel.com reports. The fund bought 67,214 shares of the real estate investment trust’s stock, valued at approximately $763,000.

A number of other hedge funds have also bought and sold shares of the stock. Godsey & Gibb Inc. acquired a new position in shares of Rithm Capital in the 3rd quarter valued at $51,000. Seven Grand Managers LLC purchased a new position in shares of Rithm Capital in the third quarter worth about $11,918,000. SeaCrest Wealth Management LLC lifted its holdings in shares of Rithm Capital by 10.6% during the third quarter. SeaCrest Wealth Management LLC now owns 93,615 shares of the real estate investment trust’s stock worth $1,063,000 after purchasing an additional 9,009 shares during the period. Creative Planning boosted its position in Rithm Capital by 20.6% in the third quarter. Creative Planning now owns 77,109 shares of the real estate investment trust’s stock valued at $875,000 after buying an additional 13,152 shares during the last quarter. Finally, Exchange Traded Concepts LLC increased its holdings in Rithm Capital by 31.3% in the 3rd quarter. Exchange Traded Concepts LLC now owns 244,796 shares of the real estate investment trust’s stock worth $2,778,000 after buying an additional 58,356 shares during the period. Institutional investors and hedge funds own 44.92% of the company’s stock.

Rithm Capital Price Performance

RITM stock remained flat at $10.60 during trading on Tuesday. The company had a trading volume of 228,149 shares, compared to its average volume of 3,442,975. The business’s fifty day moving average price is $11.34 and its 200-day moving average price is $11.19. Rithm Capital Corp. has a 12 month low of $8.87 and a 12 month high of $12.02. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.49 and a quick ratio of 0.49. The stock has a market cap of $5.12 billion, a PE ratio of 7.07 and a beta of 1.80.

Rithm Capital (NYSE:RITM) last issued its earnings results on Wednesday, July 31st. The real estate investment trust reported $0.47 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.05. The business had revenue of $1.23 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Rithm Capital had a return on equity of 18.04% and a net margin of 15.55%. The business’s revenue for the quarter was up 18.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.62 EPS. As a group, sell-side analysts expect that Rithm Capital Corp. will post 1.82 EPS for the current fiscal year.

Rithm Capital Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Tuesday, October 1st will be paid a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, October 1st. This represents a $1.00 annualized dividend and a dividend yield of 9.43%. Rithm Capital’s dividend payout ratio (DPR) is 66.67%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on RITM shares. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $13.00 price target on shares of Rithm Capital in a report on Tuesday, August 13th. JMP Securities increased their target price on shares of Rithm Capital from $11.00 to $12.50 and gave the stock a “market outperform” rating in a research note on Friday, July 19th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $13.00 price target on shares of Rithm Capital in a report on Friday, August 16th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Rithm Capital presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.67.

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.