Northern Right Capital Management L.P. Has $19.34 Million Holdings in Rithm Capital Corp. $RITM

Northern Right Capital Management L.P. lifted its position in shares of Rithm Capital Corp. (NYSE:RITM) by 33.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,698,003 shares of the real estate investment trust’s stock after buying an additional 427,507 shares during the period. Rithm Capital comprises 6.0% of Northern Right Capital Management L.P.’s investment portfolio, making the stock its 9th largest position. Northern Right Capital Management L.P. owned 0.31% of Rithm Capital worth $19,340,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Mariner LLC boosted its stake in Rithm Capital by 74.1% in the third quarter. Mariner LLC now owns 213,608 shares of the real estate investment trust’s stock worth $2,433,000 after buying an additional 90,925 shares in the last quarter. Moors & Cabot Inc. raised its stake in shares of Rithm Capital by 9.4% during the third quarter. Moors & Cabot Inc. now owns 93,282 shares of the real estate investment trust’s stock worth $1,062,000 after acquiring an additional 7,997 shares in the last quarter. Mercer Global Advisors Inc. ADV raised its stake in shares of Rithm Capital by 38.9% during the third quarter. Mercer Global Advisors Inc. ADV now owns 249,886 shares of the real estate investment trust’s stock worth $2,846,000 after acquiring an additional 70,013 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Rithm Capital by 8.4% in the 3rd quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 1,954,373 shares of the real estate investment trust’s stock worth $22,260,000 after acquiring an additional 151,313 shares during the last quarter. Finally, Moore Capital Management LP boosted its stake in shares of Rithm Capital by 22.4% in the 3rd quarter. Moore Capital Management LP now owns 1,505,000 shares of the real estate investment trust’s stock valued at $17,142,000 after purchasing an additional 275,000 shares in the last quarter. Institutional investors own 44.92% of the company’s stock.

Analyst Upgrades and Downgrades

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

Rithm Capital Trading Down 0.6%

Shares of RITM opened at $9.40 on Tuesday. The stock has a market capitalization of $5.22 billion, a PE ratio of 9.03 and a beta of 1.21. The company’s fifty day moving average is $10.76 and its 200 day moving average is $11.13. The company has a debt-to-equity ratio of 2.20, a quick ratio of 0.58 and a current ratio of 0.58. Rithm Capital Corp. has a fifty-two week low of $9.13 and a fifty-two week high of $12.74.

Rithm Capital (NYSE:RITM) last released its quarterly earnings data on Tuesday, February 3rd. The real estate investment trust reported $0.74 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $1.24 billion. Sell-side analysts expect that Rithm Capital Corp. will post 1.93 earnings per share for the current fiscal year.

Rithm Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 30th. Shareholders of record on Wednesday, December 31st were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 10.6%. The ex-dividend date of this dividend was Wednesday, December 31st. Rithm Capital’s payout ratio is presently 96.15%.

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.