Covestor Ltd Acquires 6,784 Shares of Rithm Capital Corp. (NYSE:RITM)

Covestor Ltd lifted its holdings in shares of Rithm Capital Corp. (NYSE:RITM) by 25.9% in the second quarter, according to its most recent filing with the SEC. The firm owned 33,024 shares of the real estate investment trust’s stock after acquiring an additional 6,784 shares during the period. Covestor Ltd’s holdings in Rithm Capital were worth $309,000 as of its most recent filing with the SEC.

Several other institutional investors have also made changes to their positions in the business. JPMorgan Chase & Co. boosted its stake in Rithm Capital by 2.3% in the 1st quarter. JPMorgan Chase & Co. now owns 713,031 shares of the real estate investment trust’s stock valued at $7,830,000 after buying an additional 16,278 shares in the last quarter. Bank of New York Mellon Corp boosted its stake in shares of Rithm Capital by 24.5% in the 1st quarter. Bank of New York Mellon Corp now owns 1,880,926 shares of the real estate investment trust’s stock valued at $20,650,000 after purchasing an additional 369,564 shares in the last quarter. Roundview Capital LLC bought a new stake in shares of Rithm Capital in the 1st quarter worth about $165,000. US Bancorp DE increased its position in shares of Rithm Capital by 79.1% during the 1st quarter. US Bancorp DE now owns 40,483 shares of the real estate investment trust’s stock worth $444,000 after purchasing an additional 17,879 shares in the last quarter. Finally, Cetera Advisor Networks LLC lifted its holdings in Rithm Capital by 49.8% during the 1st quarter. Cetera Advisor Networks LLC now owns 20,101 shares of the real estate investment trust’s stock valued at $221,000 after purchasing an additional 6,682 shares during the last quarter. 44.58% of the stock is currently owned by institutional investors and hedge funds.

Rithm Capital Trading Up 0.2 %

RITM stock traded up $0.02 during midday trading on Tuesday, reaching $10.13. The stock had a trading volume of 854,100 shares, compared to its average volume of 3,958,479. The firm has a market cap of $4.89 billion, a price-to-earnings ratio of 6.97 and a beta of 1.86. Rithm Capital Corp. has a twelve month low of $7.40 and a twelve month high of $10.45. The company has a quick ratio of 0.31, a current ratio of 0.31 and a debt-to-equity ratio of 0.09. The business has a fifty day simple moving average of $9.54 and a two-hundred day simple moving average of $9.40.

Rithm Capital (NYSE:RITM) last posted its quarterly earnings results on Thursday, October 26th. The real estate investment trust reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.24. Rithm Capital had a net margin of 21.51% and a return on equity of 17.01%. The business had revenue of $1.09 billion during the quarter, compared to the consensus estimate of $922.90 million. During the same period in the previous year, the firm posted $0.32 earnings per share. Rithm Capital’s revenue for the quarter was up 4.9% compared to the same quarter last year. As a group, research analysts expect that Rithm Capital Corp. will post 1.93 EPS for the current fiscal year.

Rithm Capital Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 27th. Stockholders of record on Friday, September 29th were given a $0.25 dividend. The ex-dividend date of this dividend was Thursday, September 28th. This represents a $1.00 annualized dividend and a dividend yield of 9.87%. Rithm Capital’s dividend payout ratio is currently 68.97%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on RITM. Jonestrading raised shares of Rithm Capital from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a report on Friday, October 27th. Raymond James boosted their price objective on Rithm Capital from $11.50 to $12.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 30th. Compass Point raised their target price on Rithm Capital from $11.00 to $12.00 in a research note on Monday, October 2nd. Wedbush reiterated an “outperform” rating and set a $12.00 price target on shares of Rithm Capital in a research report on Thursday, August 3rd. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $12.00 price objective on shares of Rithm Capital in a report on Friday, August 18th. Six research analysts have rated the stock with a buy rating, According to data from MarketBeat, Rithm Capital presently has a consensus rating of “Buy” and a consensus target price of $11.50.

Rithm Capital Profile

Rithm Capital Corp. operates as an investment manager that operates a vertically integrated mortgage platform and invests in real estate and related properties in the United States and Europe. The company provides capital and services to the real estate and financial services sectors. Its investment portfolio comprises mortgage servicing related assets, residential securities and loans, and single-family rental loans.