Advisors Capital Management LLC Boosts Position in Rithm Capital Corp. $RITM

Advisors Capital Management LLC increased its position in shares of Rithm Capital Corp. (NYSE:RITM) by 4.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,219,318 shares of the real estate investment trust’s stock after acquiring an additional 49,022 shares during the quarter. Advisors Capital Management LLC owned approximately 0.22% of Rithm Capital worth $13,888,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of RITM. Curi Capital LLC lifted its stake in Rithm Capital by 0.7% during the second 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 in the last quarter. Geneos Wealth Management Inc. raised its holdings in shares of Rithm Capital by 14.3% in the 1st quarter. Geneos Wealth Management Inc. now owns 7,031 shares of the real estate investment trust’s stock valued at $81,000 after buying an additional 881 shares during the period. Signaturefd LLC lifted its stake in Rithm Capital by 2.3% during the 3rd quarter. Signaturefd LLC now owns 45,012 shares of the real estate investment trust’s stock worth $513,000 after acquiring an additional 1,009 shares in the last quarter. Foster Victor Wealth Advisors LLC lifted its stake in Rithm Capital by 2.0% during the 3rd quarter. Foster Victor Wealth Advisors LLC now owns 61,830 shares of the real estate investment trust’s stock worth $689,000 after acquiring an additional 1,212 shares in the last quarter. Finally, Samalin Investment Counsel LLC boosted its holdings in Rithm Capital by 3.6% during the 3rd quarter. Samalin Investment Counsel LLC now owns 36,638 shares of the real estate investment trust’s stock valued at $417,000 after acquiring an additional 1,290 shares during the period. 44.92% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have issued reports on RITM shares. Wedbush initiated 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. JonesTrading restated a “buy” rating and issued a $13.50 price objective on shares of Rithm Capital in a report on Thursday, October 30th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Rithm Capital in a report on Monday, December 29th. Piper Sandler reissued an “overweight” rating and issued a $15.00 price target (down previously from $15.50) on shares of Rithm Capital in a research report on Wednesday, February 4th. Finally, Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of Rithm Capital in a research report on Thursday, December 18th. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $14.50.

Rithm Capital Stock Performance

Shares of Rithm Capital stock opened at $10.64 on Thursday. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.45 and a current ratio of 0.45. Rithm Capital Corp. has a 1 year low of $9.13 and a 1 year high of $12.74. The firm’s 50-day simple moving average is $11.17 and its 200-day simple moving average is $11.43. The firm has a market cap of $5.90 billion, a PE ratio of 10.23 and a beta of 1.20.

Rithm Capital (NYSE:RITM) last announced its quarterly earnings data on Tuesday, February 3rd. The real estate investment trust reported $0.74 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.19. The firm had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.24 billion. Rithm Capital had a return on equity of 20.19% and a net margin of 15.55%. Equities analysts forecast that Rithm Capital Corp. will post 1.93 earnings per share for the current fiscal year.

Rithm Capital Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 30th. Stockholders of record on Wednesday, December 31st were issued a $0.25 dividend. The ex-dividend date of this dividend was Wednesday, December 31st. This represents a $1.00 annualized dividend and a dividend yield of 9.4%. Rithm Capital’s payout ratio is 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.