Azora Capital LP Acquires 2,271,671 Shares of Rithm Capital Corp. (NYSE:RITM)

Azora Capital LP raised its holdings in shares of Rithm Capital Corp. (NYSE:RITM) by 107.6% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,383,821 shares of the real estate investment trust’s stock after purchasing an additional 2,271,671 shares during the period. Rithm Capital accounts for 2.7% of Azora Capital LP’s portfolio, making the stock its 16th largest position. Azora Capital LP owned approximately 0.84% of Rithm Capital worth $49,756,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in RITM. Verition Fund Management LLC bought a new position in shares of Rithm Capital during the third quarter valued at $203,000. Walleye Capital LLC bought a new stake in Rithm Capital during the 3rd quarter valued at about $1,827,000. Infrastructure Capital Advisors LLC bought a new stake in Rithm Capital during the 3rd quarter valued at about $205,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Rithm Capital by 102.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,173,045 shares of the real estate investment trust’s stock worth $13,314,000 after buying an additional 592,209 shares during the last quarter. Finally, Freedom Investment Management Inc. bought a new position in shares of Rithm Capital in the third quarter worth approximately $230,000. 44.92% of the stock is currently owned by hedge funds and other institutional investors.

Rithm Capital Stock Performance

RITM stock opened at $11.25 on Monday. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.35 and a quick ratio of 1.35. Rithm Capital Corp. has a 1 year low of $9.97 and a 1 year high of $12.02. The company has a market cap of $5.85 billion, a P/E ratio of 11.36 and a beta of 1.80. The stock’s fifty day moving average price is $10.83 and its 200-day moving average price is $11.12.

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 (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.12. Rithm Capital had a return on equity of 17.54% and a net margin of 14.99%. The business had revenue of $619.51 million during the quarter, compared to the consensus estimate of $1.11 billion. During the same period in the previous year, the company posted $0.58 EPS. On average, equities analysts forecast that Rithm Capital Corp. will post 1.89 earnings per share for the current year.

Rithm Capital Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Tuesday, October 1st were given a $0.25 dividend. The ex-dividend date was Tuesday, October 1st. This represents a $1.00 annualized dividend and a yield of 8.89%. Rithm Capital’s payout ratio is presently 101.01%.

Analyst Ratings Changes

A number of brokerages recently weighed in on RITM. Wedbush restated an “outperform” rating and issued a $14.00 price objective on shares of Rithm Capital in a report on Thursday, November 7th. Royal Bank of Canada restated an “outperform” rating and issued a $13.00 price target on shares of Rithm Capital in a research note on Thursday, November 21st. One research analyst has rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $12.78.

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.