WESPAC Advisors LLC Has $1.13 Million Position in Rithm Capital Corp. (NYSE:RITM)

WESPAC Advisors LLC boosted its position in shares of Rithm Capital Corp. (NYSE:RITM) by 23.9% in the fourth quarter, Holdings Channel reports. The firm owned 104,553 shares of the real estate investment trust’s stock after purchasing an additional 20,167 shares during the period. WESPAC Advisors LLC’s holdings in Rithm Capital were worth $1,132,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the company. Truvestments Capital LLC acquired a new position in shares of Rithm Capital in the 3rd quarter valued at $43,000. Wilmington Savings Fund Society FSB acquired a new position in Rithm Capital in the third quarter valued at about $43,000. Householder Group Estate & Retirement Specialist LLC grew its stake in Rithm Capital by 86.7% in the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 4,439 shares of the real estate investment trust’s stock valued at $48,000 after acquiring an additional 2,062 shares during the period. FNY Investment Advisers LLC grew its stake in Rithm Capital by 8,600.0% in the fourth quarter. FNY Investment Advisers LLC now owns 8,700 shares of the real estate investment trust’s stock valued at $94,000 after acquiring an additional 8,600 shares during the period. Finally, Allworth Financial LP grew its stake in Rithm Capital by 281.2% in the third quarter. Allworth Financial LP now owns 8,695 shares of the real estate investment trust’s stock valued at $99,000 after acquiring an additional 6,414 shares during the period. Institutional investors and hedge funds own 44.92% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on RITM shares. Wedbush reiterated an “outperform” rating and issued a $14.00 price objective on shares of Rithm Capital in a research report on Thursday, November 7th. JMP Securities reaffirmed a “market outperform” rating and issued a $12.50 target price on shares of Rithm Capital in a research note on Thursday, January 23rd. B. Riley raised shares of Rithm Capital to a “strong-buy” rating in a research note on Tuesday, January 7th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $13.00 price objective on shares of Rithm Capital in a research report on Thursday, November 21st. Finally, Keefe, Bruyette & Woods upped their price objective on Rithm Capital from $13.00 to $13.50 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $13.07.

Rithm Capital Stock Performance

RITM opened at $11.89 on Friday. The business’s 50-day simple moving average is $11.31 and its 200 day simple moving average is $11.19. Rithm Capital Corp. has a 52-week low of $10.38 and a 52-week high of $12.10. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.35 and a current ratio of 1.09. The firm has a market capitalization of $6.19 billion, a PE ratio of 7.12 and a beta of 1.79.

Rithm Capital (NYSE:RITM) last released its quarterly earnings data on Thursday, February 6th. The real estate investment trust reported $0.60 EPS for the quarter, beating the consensus estimate of $0.44 by $0.16. Rithm Capital had a return on equity of 18.15% and a net margin of 17.79%. As a group, sell-side analysts expect that Rithm Capital Corp. will post 1.93 earnings per share for the current fiscal year.

Rithm Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st were paid a dividend of $0.25 per share. The ex-dividend date was Tuesday, December 31st. This represents a $1.00 annualized dividend and a dividend yield of 8.41%. Rithm Capital’s dividend payout ratio is presently 59.88%.

Rithm Capital Company 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.