Redhawk Wealth Advisors Inc. Has $689,000 Holdings in Rithm Capital Corp. (NYSE:RITM)

Redhawk Wealth Advisors Inc. increased its position in shares of Rithm Capital Corp. (NYSE:RITM) by 10.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 63,131 shares of the real estate investment trust’s stock after purchasing an additional 6,014 shares during the quarter. Redhawk Wealth Advisors Inc.’s holdings in Rithm Capital were worth $689,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of RITM. Seelaus Asset Management LLC raised its holdings in shares of Rithm Capital by 2.7% during the 1st quarter. Seelaus Asset Management LLC now owns 36,471 shares of the real estate investment trust’s stock worth $407,000 after buying an additional 955 shares in the last quarter. Leavell Investment Management Inc. raised its stake in Rithm Capital by 3.8% during the first quarter. Leavell Investment Management Inc. now owns 27,264 shares of the real estate investment trust’s stock worth $311,000 after acquiring an additional 1,000 shares in the last quarter. Nomura Asset Management Co. Ltd. lifted its holdings in shares of Rithm Capital by 15.2% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 9,100 shares of the real estate investment trust’s stock worth $97,000 after acquiring an additional 1,200 shares during the last quarter. Abich Financial Wealth Management LLC boosted its stake in shares of Rithm Capital by 56.8% in the 1st quarter. Abich Financial Wealth Management LLC now owns 4,031 shares of the real estate investment trust’s stock valued at $45,000 after purchasing an additional 1,461 shares in the last quarter. Finally, SeaCrest Wealth Management LLC grew its holdings in shares of Rithm Capital by 1.7% during the 1st quarter. SeaCrest Wealth Management LLC now owns 94,567 shares of the real estate investment trust’s stock valued at $1,055,000 after purchasing an additional 1,547 shares during the last quarter. 44.92% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on RITM. JMP Securities raised their target price on shares of Rithm Capital from $11.00 to $12.50 and gave the company a “market outperform” rating in a research report on Friday, July 19th. Wedbush restated an “outperform” rating and set a $13.00 price objective on shares of Rithm Capital in a research report on Thursday, May 9th. Piper Sandler increased their target price on Rithm Capital from $10.50 to $12.50 and gave the company a “neutral” rating in a research report on Tuesday, May 14th. Keefe, Bruyette & Woods boosted their price target on Rithm Capital from $12.00 to $12.50 and gave the stock an “outperform” rating in a report on Thursday, May 2nd. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $13.00 price objective on shares of Rithm Capital in a report on Tuesday. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Rithm Capital has a consensus rating of “Moderate Buy” and a consensus price target of $12.55.

Rithm Capital Trading Up 1.7 %

Rithm Capital stock traded up $0.19 during mid-day trading on Thursday, hitting $11.36. 3,161,234 shares of the stock were exchanged, compared to its average volume of 3,270,454. The stock has a market capitalization of $5.49 billion, a price-to-earnings ratio of 7.60 and a beta of 1.82. Rithm Capital Corp. has a 12 month low of $8.87 and a 12 month high of $11.85. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.20. The firm’s fifty day simple moving average is $11.11 and its two-hundred day simple moving average is $10.99.

Rithm Capital (NYSE:RITM) last announced its earnings results on Wednesday, July 31st. The real estate investment trust reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.05. The business had revenue of $1.23 billion during the quarter, compared to the consensus estimate of $1.15 billion. Rithm Capital had a net margin of 15.55% and a return on equity of 18.20%. Rithm Capital’s quarterly revenue was up 18.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.62 earnings per share. Analysts forecast that Rithm Capital Corp. will post 1.78 EPS for the current year.

Rithm Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 26th. Shareholders of record on Monday, July 1st were issued a $0.25 dividend. The ex-dividend date was Monday, July 1st. This represents a $1.00 dividend on an annualized basis and a yield of 8.80%. Rithm Capital’s payout ratio is currently 66.67%.

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.