Waterfall Asset Management LLC Acquires 83,714 Shares of Rithm Capital Corp. $RITM

Waterfall Asset Management LLC boosted its holdings in shares of Rithm Capital Corp. (NYSE:RITM) by 167.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 133,714 shares of the real estate investment trust’s stock after acquiring an additional 83,714 shares during the quarter. Rithm Capital accounts for about 0.7% of Waterfall Asset Management LLC’s portfolio, making the stock its 9th largest position. Waterfall Asset Management LLC’s holdings in Rithm Capital were worth $1,509,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the business. Kingstone Capital Partners Texas LLC acquired a new position in shares of Rithm Capital during the second quarter worth $96,027,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in Rithm Capital during the 2nd quarter worth $24,938,000. Mackenzie Financial Corp raised its position in Rithm Capital by 288.6% during the 1st quarter. Mackenzie Financial Corp now owns 2,725,392 shares of the real estate investment trust’s stock worth $31,206,000 after purchasing an additional 2,024,090 shares during the last quarter. Wellington Management Group LLP lifted its holdings in Rithm Capital by 36.3% during the 1st quarter. Wellington Management Group LLP now owns 4,907,737 shares of the real estate investment trust’s stock worth $56,194,000 after buying an additional 1,307,276 shares during the period. Finally, Nuveen LLC bought a new stake in shares of Rithm Capital in the 1st quarter valued at about $14,086,000. Institutional investors own 44.92% of the company’s stock.

Rithm Capital Price Performance

Shares of RITM opened at $11.02 on Friday. The firm has a market cap of $6.11 billion, a PE ratio of 7.60 and a beta of 1.30. Rithm Capital Corp. has a 52-week low of $9.13 and a 52-week high of $12.74. The business’s 50 day moving average price is $11.18 and its two-hundred day moving average price is $11.58. The company has a debt-to-equity ratio of 1.52, a quick ratio of 0.45 and a current ratio of 0.45.

Rithm Capital (NYSE:RITM) last released its quarterly earnings data on Thursday, October 30th. The real estate investment trust reported $0.54 earnings per share for the quarter, meeting the consensus estimate of $0.54. Rithm Capital had a net margin of 17.08% and a return on equity of 18.82%. The company had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.07 billion. On average, equities analysts anticipate that Rithm Capital Corp. will post 1.93 EPS for the current year.

Rithm Capital Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Wednesday, October 1st were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 9.1%. The ex-dividend date of this dividend was Wednesday, October 1st. Rithm Capital’s payout ratio is 68.97%.

Insider Activity

In other news, CEO Michael Nierenberg sold 301,548 shares of the company’s stock in a transaction dated Wednesday, November 5th. The shares were sold at an average price of $11.00, for a total transaction of $3,317,028.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider David Zeiden sold 19,285 shares of the stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $11.11, for a total transaction of $214,256.35. The disclosure for this sale is available in the SEC filing. 0.44% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Keefe, Bruyette & Woods increased their price target on Rithm Capital from $13.50 to $14.00 and gave the company an “outperform” rating in a research note on Tuesday, July 29th. Weiss Ratings cut Rithm Capital from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday. Wedbush restated an “outperform” rating and set a $14.00 price target on shares of Rithm Capital in a report on Wednesday, August 6th. UBS Group boosted their price target on shares of Rithm Capital from $14.00 to $16.00 and gave the stock a “buy” rating in a research report on Wednesday, September 3rd. Finally, Royal Bank Of Canada upped their price objective on shares of Rithm Capital from $13.00 to $14.00 and gave the company an “outperform” rating in a research note on Friday, August 1st. One analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $14.25.

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.