Ground Swell Capital LLC Invests $120,000 in Rithm Capital Corp. (NYSE:RITM)

Ground Swell Capital LLC purchased a new stake in Rithm Capital Corp. (NYSE:RITM) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 10,547 shares of the real estate investment trust’s stock, valued at approximately $120,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in Rithm Capital by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 45,815,852 shares of the real estate investment trust’s stock valued at $511,305,000 after purchasing an additional 378,931 shares during the last quarter. Long Pond Capital LP purchased a new position in Rithm Capital during the 1st quarter valued at about $53,025,000. BlueCrest Capital Management Ltd lifted its position in shares of Rithm Capital by 1.0% during the first quarter. BlueCrest Capital Management Ltd now owns 2,134,661 shares of the real estate investment trust’s stock worth $23,823,000 after purchasing an additional 21,424 shares in the last quarter. Van ECK Associates Corp boosted its stake in shares of Rithm Capital by 20.7% in the third quarter. Van ECK Associates Corp now owns 2,004,057 shares of the real estate investment trust’s stock valued at $21,163,000 after purchasing an additional 343,678 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in Rithm Capital by 10.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,753,224 shares of the real estate investment trust’s stock worth $19,128,000 after buying an additional 158,857 shares during the period. Hedge funds and other institutional investors own 44.92% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on RITM. JMP Securities raised their price target on shares of Rithm Capital from $11.00 to $12.50 and gave the company a “market outperform” rating in a research report on Friday, July 19th. Wedbush reissued an “outperform” rating and set a $13.00 target price on shares of Rithm Capital in a research note on Friday, August 16th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $13.00 price objective on shares of Rithm Capital in a research note on Tuesday, August 13th. One analyst has rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat, Rithm Capital presently has a consensus rating of “Moderate Buy” and a consensus target price of $12.67.

Rithm Capital Stock Performance

NYSE RITM opened at $10.48 on Monday. The company has a fifty day moving average of $11.20 and a two-hundred day moving average of $11.18. The company has a market capitalization of $5.06 billion, a PE ratio of 10.59 and a beta of 1.80. Rithm Capital Corp. has a 1 year low of $9.61 and a 1 year high of $12.02. The company has a debt-to-equity ratio of 1.81, a current ratio of 0.49 and a quick ratio of 0.49.

Rithm Capital (NYSE:RITM) last announced its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.12. The business had revenue of $619.51 million for the quarter, compared to analyst estimates of $1.11 billion. Rithm Capital had a net margin of 14.99% and a return on equity of 17.91%. During the same period last year, the firm posted $0.58 earnings per share. As a group, analysts expect that Rithm Capital Corp. will post 1.85 earnings per share for the current year.

Rithm Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Tuesday, October 1st were paid a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $1.00 annualized dividend and a yield of 9.54%. Rithm Capital’s dividend payout ratio is currently 101.01%.

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.