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

Tcfg Wealth Management LLC purchased a new position in shares of Rithm Capital Corp. (NYSE:RITM) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 84,632 shares of the real estate investment trust’s stock, valued at approximately $964,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Curi Capital LLC boosted its stake in 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 valued at $1,358,000 after acquiring an additional 829 shares during the last quarter. Geneos Wealth Management Inc. raised its stake 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 purchasing an additional 881 shares in the last quarter. Signaturefd LLC raised its stake in shares of Rithm Capital by 2.3% in the 3rd 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 raised its stake in shares of Rithm Capital by 0.6% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 165,278 shares of the real estate investment trust’s stock valued at $1,883,000 after purchasing an additional 1,024 shares in the last quarter. Finally, CI Investments Inc. lifted its position in shares of Rithm Capital by 37.8% during the third quarter. CI Investments Inc. now owns 4,046 shares of the real estate investment trust’s stock worth $46,000 after purchasing an additional 1,109 shares during the last quarter. Institutional investors own 44.92% of the company’s stock.

Rithm Capital Price Performance

Shares of NYSE:RITM opened at $9.36 on Wednesday. The company has a market cap of $5.20 billion, a PE ratio of 9.00 and a beta of 1.21. Rithm Capital Corp. has a fifty-two week low of $9.13 and a fifty-two week high of $12.74. The firm has a 50-day simple moving average of $10.72 and a 200 day simple moving average of $11.11. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 2.20.

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, topping 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 firm had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.24 billion. On average, sell-side analysts anticipate that Rithm Capital Corp. will post 1.93 EPS for the current year.

Rithm Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 30th. Investors of record on Wednesday, December 31st were given a dividend of $0.25 per share. The ex-dividend date was Wednesday, December 31st. This represents a $1.00 dividend on an annualized basis and a yield of 10.7%. Rithm Capital’s payout ratio is currently 96.15%.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on RITM shares. Weiss Ratings reissued a “hold (c+)” rating on shares of Rithm Capital in a report on Monday, December 29th. Piper Sandler reiterated 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 Rithm Capital in a report on Monday, December 15th. They issued an “outperform” rating and a $14.00 price target for the company. Keefe, Bruyette & Woods reissued an “outperform” rating on shares of Rithm Capital in a research report on Thursday, December 18th. Finally, Wall Street Zen upgraded Rithm Capital from a “hold” rating to a “buy” rating in a research note on Saturday, March 7th. Seven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $14.50.

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.