Empowered Funds LLC Has $176,000 Stock Position in Rithm Capital Corp. (NYSE:RITM)

Empowered Funds LLC boosted its holdings in shares of Rithm Capital Corp. (NYSE:RITM) by 8.3% during the third quarter, Holdings Channel.com reports. The institutional investor owned 15,824 shares of the real estate investment trust’s stock after acquiring an additional 1,216 shares during the quarter. Empowered Funds LLC’s holdings in Rithm Capital were worth $176,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Van ECK Associates Corp lifted its holdings in shares of Rithm Capital by 20.7% during the third quarter. Van ECK Associates Corp now owns 2,004,057 shares of the real estate investment trust’s stock worth $21,163,000 after buying an additional 343,678 shares in the last quarter. Waterfall Asset Management LLC bought a new position in Rithm Capital during the second quarter worth about $2,209,000. SG Americas Securities LLC bought a new stake in Rithm Capital in the 3rd quarter valued at about $4,112,000. Squarepoint Ops LLC acquired a new position in shares of Rithm Capital during the 2nd quarter worth approximately $774,000. Finally, Cetera Investment Advisers raised its position in shares of Rithm Capital by 460.3% in the first quarter. Cetera Investment Advisers now owns 265,611 shares of the real estate investment trust’s stock valued at $2,964,000 after buying an additional 218,206 shares in the last quarter. Institutional investors own 44.92% of the company’s stock.

Rithm Capital Stock Performance

NYSE:RITM opened at $11.13 on Wednesday. Rithm Capital Corp. has a twelve month low of $9.97 and a twelve month high of $12.02. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.63. The stock has a market cap of $5.78 billion, a P/E ratio of 11.26 and a beta of 1.80. The business’s 50-day moving average price is $10.89 and its two-hundred day moving average price is $11.13.

Rithm Capital (NYSE:RITM) last released its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.12. Rithm Capital had a return on equity of 17.54% and a net margin of 14.99%. The company had revenue of $619.51 million during the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the previous year, the company posted $0.58 EPS. As a group, equities analysts predict that Rithm Capital Corp. will post 1.89 EPS for the current fiscal year.

Rithm Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Tuesday, October 1st were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 8.98%. The ex-dividend date of this dividend was Tuesday, October 1st. Rithm Capital’s dividend payout ratio (DPR) is 101.01%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on RITM. Wedbush restated an “outperform” rating and issued a $14.00 price target on shares of Rithm Capital in a research report on Thursday, November 7th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $13.00 price target on shares of Rithm Capital in a report on Thursday, November 21st. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $12.78.

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.