Maven Securities LTD Invests $11.35 Million in Rithm Capital Corp. (NYSE:RITM)

Maven Securities LTD bought a new stake in shares of Rithm Capital Corp. (NYSE:RITM) in the 3rd quarter, Holdings Channel.com reports. The firm bought 1,000,000 shares of the real estate investment trust’s stock, valued at approximately $11,350,000. Rithm Capital makes up 0.2% of Maven Securities LTD’s holdings, making the stock its 9th biggest position.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in RITM. Northwestern Mutual Wealth Management Co. increased its holdings in Rithm Capital by 154.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,513 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 1,525 shares in the last quarter. Truvestments Capital LLC bought a new position in shares of Rithm Capital in the third quarter worth approximately $43,000. Godsey & Gibb Inc. purchased a new stake in shares of Rithm Capital in the third quarter worth $51,000. Future Financial Wealth Managment LLC bought a new stake in shares of Rithm Capital during the 3rd quarter valued at $73,000. Finally, Summit Securities Group LLC bought a new stake in shares of Rithm Capital during the 2nd quarter valued at $74,000. 44.92% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

RITM has been the subject of a number of analyst reports. Royal Bank of Canada reiterated an “outperform” rating and issued a $13.00 price target on shares of Rithm Capital in a research note on Thursday, November 21st. Wedbush reiterated an “outperform” rating and set a $14.00 target price on shares of Rithm Capital in a research report on Thursday, November 7th. Finally, Keefe, Bruyette & Woods lifted their target price on Rithm Capital from $13.00 to $13.50 and gave the company an “outperform” rating in a research note on Tuesday. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $12.89.

Rithm Capital Price Performance

NYSE RITM opened at $11.16 on Wednesday. The stock’s fifty day moving average price is $10.81 and its 200 day moving average price is $11.12. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.35 and a quick ratio of 1.35. The company has a market cap of $5.80 billion, a price-to-earnings ratio of 11.27 and a beta of 1.80. Rithm Capital Corp. has a 1 year low of $9.97 and a 1 year high of $12.02.

Rithm Capital (NYSE:RITM) last released its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.54 earnings per share for the quarter, beating 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 business had revenue of $619.51 million during the quarter, compared to analyst estimates of $1.11 billion. During the same quarter last year, the business posted $0.58 EPS. As a group, equities research analysts forecast that Rithm Capital Corp. will post 1.89 earnings per share for the current year.

Rithm Capital Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Tuesday, October 1st were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, October 1st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.96%. Rithm Capital’s 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.