Waterfall Asset Management LLC Has $4.12 Million Position in Rithm Capital Corp. $RITM

Waterfall Asset Management LLC increased its holdings in Rithm Capital Corp. (NYSE:RITM) by 169.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 360,573 shares of the real estate investment trust’s stock after purchasing an additional 226,859 shares during the quarter. Rithm Capital accounts for 0.5% of Waterfall Asset Management LLC’s holdings, making the stock its 9th biggest position. Waterfall Asset Management LLC’s holdings in Rithm Capital were worth $4,115,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. Norges Bank acquired a new position in Rithm Capital in the second quarter worth approximately $72,762,000. State Street Corp boosted its stake in shares of Rithm Capital by 11.5% during the 2nd quarter. State Street Corp now owns 10,178,853 shares of the real estate investment trust’s stock worth $117,426,000 after acquiring an additional 1,052,130 shares in the last quarter. One Fin Capital Management LP acquired a new position in shares of Rithm Capital in the 2nd quarter worth $11,854,000. Qube Research & Technologies Ltd raised its position in shares of Rithm Capital by 31.5% during the second quarter. Qube Research & Technologies Ltd now owns 4,366,657 shares of the real estate investment trust’s stock worth $49,300,000 after purchasing an additional 1,045,018 shares during the period. Finally, Bank of Montreal Can raised its position in shares of Rithm Capital by 3,626.7% during the second quarter. Bank of Montreal Can now owns 1,038,694 shares of the real estate investment trust’s stock worth $11,727,000 after purchasing an additional 1,010,822 shares during the period. 44.92% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. UBS Group set a $15.00 price objective on Rithm Capital in a report on Friday, February 6th. Weiss Ratings reissued a “hold (c+)” rating on shares of Rithm Capital in a research report on Monday, December 29th. Keefe, Bruyette & Woods restated an “outperform” rating on shares of Rithm Capital in a report on Thursday, December 18th. Piper Sandler reaffirmed an “overweight” rating and issued a $15.00 price objective (down from $15.50) on shares of Rithm Capital in a research note on Wednesday, February 4th. Finally, Wedbush initiated coverage on shares of Rithm Capital in a research report on Monday, December 15th. They set an “outperform” rating and a $14.00 price objective on the stock. Seven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $14.50.

Rithm Capital Stock Performance

Shares of RITM opened at $10.08 on Monday. Rithm Capital Corp. has a 52 week low of $9.13 and a 52 week high of $12.74. The company has a debt-to-equity ratio of 2.20, a quick ratio of 0.58 and a current ratio of 0.58. The company has a market capitalization of $5.60 billion, a PE ratio of 9.69 and a beta of 1.21. The company’s 50 day moving average price is $11.04 and its 200 day moving average price is $11.33.

Rithm Capital (NYSE:RITM) last issued its earnings results 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 company had revenue of $1.29 billion during the quarter, compared to analyst estimates of $1.24 billion. Research analysts expect that Rithm Capital Corp. will post 1.93 EPS for the current fiscal year.

Rithm Capital Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 30th. Shareholders of record on Wednesday, December 31st were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 9.9%. The ex-dividend date of this dividend was Wednesday, December 31st. Rithm Capital’s dividend payout ratio is presently 96.15%.

Rithm Capital Company 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.