Tcfg Wealth Management LLC Purchases Shares of 84,632 Rithm Capital Corp. $RITM

Tcfg Wealth Management LLC bought a new stake in Rithm Capital Corp. (NYSE:RITM) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor bought 84,632 shares of the real estate investment trust’s stock, valued at approximately $964,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Curi Capital LLC increased its stake in shares of Rithm Capital by 0.7% during the 2nd quarter. Curi Capital LLC now owns 120,262 shares of the real estate investment trust’s stock worth $1,358,000 after purchasing an additional 829 shares during the last quarter. Geneos Wealth Management Inc. boosted its holdings in shares of Rithm Capital by 14.3% in the first quarter. Geneos Wealth Management Inc. now owns 7,031 shares of the real estate investment trust’s stock worth $81,000 after acquiring an additional 881 shares during the period. Signaturefd LLC grew its position in shares of Rithm Capital by 2.3% in the third quarter. Signaturefd LLC now owns 45,012 shares of the real estate investment trust’s stock valued at $513,000 after purchasing an additional 1,009 shares in the last quarter. Public Employees Retirement System of Ohio lifted its holdings in shares of Rithm Capital by 0.6% in the third quarter. Public Employees Retirement System of Ohio now owns 165,278 shares of the real estate investment trust’s stock worth $1,883,000 after buying an additional 1,024 shares in the last quarter. Finally, CI Investments Inc. boosted its position in shares of Rithm Capital by 37.8% in the third quarter. CI Investments Inc. now owns 4,046 shares of the real estate investment trust’s stock valued at $46,000 after acquiring an additional 1,109 shares during the period. Hedge funds and other institutional investors own 44.92% of the company’s stock.

Rithm Capital Trading Down 3.2%

RITM opened at $9.07 on Thursday. The company has a debt-to-equity ratio of 2.20, a current ratio of 0.58 and a quick ratio of 0.58. The firm has a market capitalization of $5.04 billion, a price-to-earnings ratio of 8.72 and a beta of 1.21. The business has a 50 day simple moving average of $10.68 and a two-hundred day simple moving average of $11.09. Rithm Capital Corp. has a one year low of $9.05 and a one year high of $12.74.

Rithm Capital (NYSE:RITM) last issued its quarterly earnings data on Tuesday, February 3rd. The real estate investment trust reported $0.74 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.55 by $0.19. Rithm Capital had a net margin of 15.55% and a return on equity of 19.74%. The business had revenue of $1.29 billion for the quarter, compared to the consensus estimate of $1.24 billion. Analysts predict that Rithm Capital Corp. will post 1.93 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on RITM shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of Rithm Capital in a research report on Monday, December 29th. Wall Street Zen upgraded Rithm Capital from a “hold” rating to a “buy” rating in a report on Saturday, March 7th. Piper Sandler restated an “overweight” rating and issued a $15.00 target price (down from $15.50) on shares of Rithm Capital in a research report on Wednesday, February 4th. Wedbush began coverage on shares of Rithm Capital in a research note on Monday, December 15th. They set an “outperform” rating and a $14.00 price target on the stock. Finally, UBS Group set a $15.00 price objective on shares of Rithm Capital in a research note on Friday, February 6th. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, Rithm Capital presently has an average rating of “Moderate Buy” and a consensus price target of $14.50.

Rithm Capital Profile

Rithm Capital Corporation is a specialty finance company that originates, acquires and manages structured credit investments collateralized by real estate assets in the United States. The company focuses primarily on senior floating-rate loans secured by multifamily, commercial, industrial and single-family rental properties, aiming to deliver attractive risk-adjusted yields through a diversified portfolio of floating-rate real estate debt.

In addition to senior loans, Rithm Capital invests in residential mortgage-backed securities, including agency and non-agency pools, as well as other real estate-related credit instruments.