World Investment Advisors Has $561,000 Stock Holdings in Rithm Capital Corp. $RITM

World Investment Advisors lifted its holdings in shares of Rithm Capital Corp. (NYSE:RITM) by 32.3% in the second quarter, HoldingsChannel reports. The institutional investor owned 49,390 shares of the real estate investment trust’s stock after buying an additional 12,065 shares during the period. World Investment Advisors’ holdings in Rithm Capital were worth $561,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the company. Envestnet Asset Management Inc. lifted its stake in Rithm Capital by 15.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 125,012 shares of the real estate investment trust’s stock valued at $1,411,000 after purchasing an additional 16,779 shares during the last quarter. Wealthfront Advisers LLC raised its holdings in Rithm Capital by 7.9% in the 2nd quarter. Wealthfront Advisers LLC now owns 20,001 shares of the real estate investment trust’s stock valued at $226,000 after acquiring an additional 1,466 shares during the period. State of New Jersey Common Pension Fund D raised its holdings in Rithm Capital by 7.4% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 444,418 shares of the real estate investment trust’s stock valued at $5,017,000 after acquiring an additional 30,504 shares during the period. Bleakley Financial Group LLC raised its holdings in Rithm Capital by 7.9% in the 2nd quarter. Bleakley Financial Group LLC now owns 39,321 shares of the real estate investment trust’s stock valued at $444,000 after acquiring an additional 2,893 shares during the period. Finally, Cullen Frost Bankers Inc. bought a new position in Rithm Capital in the 2nd quarter valued at about $30,000. 44.92% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on RITM. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Rithm Capital in a report on Wednesday, October 8th. Keefe, Bruyette & Woods lifted their price objective on shares of Rithm Capital from $13.50 to $14.00 and gave the company an “outperform” rating in a research note on Tuesday, July 29th. BTIG Research reissued a “buy” rating and issued a $16.00 price objective on shares of Rithm Capital in a research note on Wednesday, September 17th. Jones Trading restated a “buy” rating and issued a $13.50 target price on shares of Rithm Capital in a research report on Thursday. Finally, UBS Group raised their target price on shares of Rithm Capital from $14.00 to $16.00 and gave the company a “buy” rating in a research report on Wednesday, September 3rd. One investment analyst has rated the stock with a Strong Buy rating and nine have issued a Buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $14.25.

Rithm Capital Price Performance

Shares of NYSE RITM opened at $10.98 on Monday. Rithm Capital Corp. has a twelve month low of $9.13 and a twelve month high of $12.74. The firm has a fifty day simple moving average of $11.60 and a 200 day simple moving average of $11.56. The company has a market capitalization of $5.82 billion, a PE ratio of 7.57 and a beta of 1.30. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 1.63.

Rithm Capital (NYSE:RITM) last announced its earnings results on Thursday, October 30th. The real estate investment trust reported $0.54 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.54. Rithm Capital had a net margin of 17.08% and a return on equity of 19.17%. The business had revenue of $314.93 million during the quarter, compared to the consensus estimate of $1.07 billion. On average, sell-side analysts forecast 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, October 31st. Stockholders of record on Wednesday, October 1st were issued a dividend of $0.25 per share. The ex-dividend date was Wednesday, October 1st. This represents a $1.00 annualized dividend and a dividend yield of 9.1%. Rithm Capital’s dividend payout ratio is currently 68.97%.

Rithm Capital Company Profile

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.