Waterfall Asset Management LLC Has $568,000 Stake in Rithm Capital Corp. (NYSE:RITM)

Waterfall Asset Management LLC decreased its holdings in Rithm Capital Corp. (NYSE:RITM) by 75.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 50,000 shares of the real estate investment trust’s stock after selling 152,500 shares during the quarter. Rithm Capital accounts for about 0.1% of Waterfall Asset Management LLC’s portfolio, making the stock its 5th largest holding. Waterfall Asset Management LLC’s holdings in Rithm Capital were worth $568,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in RITM. Seven Grand Managers LLC acquired a new stake in shares of Rithm Capital during the 3rd quarter worth approximately $11,918,000. LMR Partners LLP acquired a new position in shares of Rithm Capital during the 3rd quarter worth $7,378,000. Charles Schwab Investment Management Inc. lifted its position in shares of Rithm Capital by 7.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,364,962 shares of the real estate investment trust’s stock worth $60,892,000 after buying an additional 366,600 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Rithm Capital during the 3rd quarter worth $4,112,000. Finally, Van ECK Associates Corp boosted its stake in Rithm Capital by 20.7% in the third quarter. Van ECK Associates Corp now owns 2,004,057 shares of the real estate investment trust’s stock valued at $21,163,000 after buying an additional 343,678 shares in the last quarter. Institutional investors and hedge funds own 44.92% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on RITM shares. Wedbush reissued an “outperform” rating and issued a $14.00 price objective on shares of Rithm Capital in a research note on Thursday, November 7th. Royal Bank of Canada restated an “outperform” rating and set a $13.00 price objective on shares of Rithm Capital in a research report on Thursday, November 21st. One investment 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.com, Rithm Capital presently has a consensus rating of “Moderate Buy” and an average target price of $12.78.

Rithm Capital Trading Up 1.2 %

Shares of NYSE:RITM traded up $0.13 during trading on Wednesday, reaching $11.26. The stock had a trading volume of 250,565 shares, compared to its average volume of 3,524,833. Rithm Capital Corp. has a 52 week low of $9.97 and a 52 week high of $12.02. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.35 and a current ratio of 1.35. The firm’s fifty day moving average is $10.87 and its 200 day moving average is $11.13. The stock has a market cap of $5.85 billion, a price-to-earnings ratio of 11.24 and a beta of 1.80.

Rithm Capital (NYSE:RITM) last announced its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.54 EPS for the quarter, beating the consensus estimate of $0.42 by $0.12. The company 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 company earned $0.58 EPS. As a group, equities analysts forecast that Rithm Capital Corp. will post 1.89 EPS for the current fiscal year.

Rithm Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Tuesday, October 1st were paid a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $1.00 annualized dividend and a dividend yield of 8.88%. Rithm Capital’s dividend payout ratio is currently 101.01%.

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.