Truvestments Capital LLC Invests $43,000 in Rithm Capital Corp. (NYSE:RITM)

Truvestments Capital LLC acquired a new position in Rithm Capital Corp. (NYSE:RITM) in the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 3,803 shares of the real estate investment trust’s stock, valued at approximately $43,000.

Other hedge funds have also recently made changes to their positions in the company. Van ECK Associates Corp raised its position in shares of Rithm Capital by 20.7% in the 3rd quarter. Van ECK Associates Corp now owns 2,004,057 shares of the real estate investment trust’s stock worth $21,163,000 after acquiring an additional 343,678 shares in the last quarter. Waterfall Asset Management LLC bought a new position in shares of Rithm Capital in the 2nd quarter worth about $2,209,000. SG Americas Securities LLC bought a new position in shares of Rithm Capital in the 3rd quarter worth about $4,112,000. Squarepoint Ops LLC bought a new stake in Rithm Capital in the 2nd quarter valued at about $774,000. Finally, Cetera Investment Advisers increased its position in Rithm Capital by 460.3% in the 1st quarter. Cetera Investment Advisers now owns 265,611 shares of the real estate investment trust’s stock valued at $2,964,000 after buying an additional 218,206 shares in the last quarter. 44.92% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $13.00 target price on shares of Rithm Capital in a research report on Thursday, November 21st. Wedbush reaffirmed an “outperform” rating and issued a $14.00 target price on shares of Rithm Capital in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $12.78.

Rithm Capital Price Performance

RITM stock opened at $11.18 on Thursday. The company has a market capitalization of $5.81 billion, a P/E ratio of 11.29 and a beta of 1.80. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.35 and a current ratio of 1.35. Rithm Capital Corp. has a 52-week low of $9.97 and a 52-week high of $12.02. The business has a 50-day simple moving average of $10.87 and a two-hundred day simple moving average of $11.13.

Rithm Capital (NYSE:RITM) last released its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.12. The business had revenue of $619.51 million during the quarter, compared to the consensus estimate of $1.11 billion. Rithm Capital had a return on equity of 17.54% and a net margin of 14.99%. During the same quarter in the previous year, the business earned $0.58 EPS. Research analysts expect that Rithm Capital Corp. will post 1.89 EPS for the current fiscal year.

Rithm Capital Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, November 1st. Shareholders of record on Tuesday, October 1st were paid a dividend of $0.25 per share. The ex-dividend date was Tuesday, October 1st. This represents a $1.00 dividend on an annualized basis and a yield of 8.95%. Rithm Capital’s dividend payout ratio (DPR) 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.