Moran Wealth Management LLC Makes New $266,000 Investment in Rithm Capital Corp. (NYSE:RITM)

Moran Wealth Management LLC acquired a new position in Rithm Capital Corp. (NYSE:RITM) in the third quarter, Holdings Channel.com reports. The institutional investor acquired 23,400 shares of the real estate investment trust’s stock, valued at approximately $266,000.

Other institutional investors also recently bought and sold shares of the company. Moors & Cabot Inc. boosted its holdings in shares of Rithm Capital by 3.1% during the 3rd quarter. Moors & Cabot Inc. now owns 80,459 shares of the real estate investment trust’s stock worth $913,000 after buying an additional 2,428 shares during the period. Advisors Asset Management Inc. boosted its stake in Rithm Capital by 2.3% during the 3rd quarter. Advisors Asset Management Inc. now owns 119,344 shares of the real estate investment trust’s stock valued at $1,355,000 after purchasing an additional 2,654 shares during the period. LMR Partners LLP bought a new position in Rithm Capital in the 3rd quarter worth approximately $7,378,000. Seelaus Asset Management LLC lifted its holdings in shares of Rithm Capital by 6.9% during the third quarter. Seelaus Asset Management LLC now owns 36,979 shares of the real estate investment trust’s stock worth $420,000 after buying an additional 2,377 shares during the last quarter. Finally, Simplify Asset Management Inc. grew its stake in shares of Rithm Capital by 276.5% in the third quarter. Simplify Asset Management Inc. now owns 134,800 shares of the real estate investment trust’s stock worth $1,496,000 after acquiring an additional 99,000 shares during the last quarter. 44.92% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on RITM. Wedbush reissued an “outperform” rating and issued a $14.00 price target on shares of Rithm Capital in a report on Thursday, November 7th. Royal Bank of Canada restated an “outperform” rating and set a $13.00 price target on shares of Rithm Capital in a research note on Thursday. One analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $12.78.

Rithm Capital Stock Performance

RITM stock opened at $10.98 on Friday. The company has a 50 day moving average price of $10.92 and a 200 day moving average price of $11.14. Rithm Capital Corp. has a fifty-two week low of $9.97 and a fifty-two week high of $12.02. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.35 and a quick ratio of 1.35. The stock has a market capitalization of $5.70 billion, a PE ratio of 11.09 and a beta of 1.80.

Rithm Capital (NYSE:RITM) last issued its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.12. The business had revenue of $619.51 million for the quarter, compared to analyst estimates of $1.11 billion. Rithm Capital had a return on equity of 17.54% and a net margin of 14.99%. During the same quarter in the prior year, the firm posted $0.58 earnings per share. Analysts forecast that Rithm Capital Corp. will post 1.89 EPS for the current year.

Rithm Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Tuesday, October 1st were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 9.11%. The ex-dividend date of this dividend was Tuesday, October 1st. Rithm Capital’s dividend payout ratio is 101.01%.

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.