Future Financial Wealth Managment LLC Acquires New Stake in Rithm Capital Corp. (NYSE:RITM)

Future Financial Wealth Managment LLC bought a new position in Rithm Capital Corp. (NYSE:RITM) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 6,400 shares of the real estate investment trust’s stock, valued at approximately $71,000.

Other institutional investors have also recently modified their holdings of the company. Range Financial Group LLC grew its position in Rithm Capital by 7.5% during the 1st quarter. Range Financial Group LLC now owns 67,103 shares of the real estate investment trust’s stock valued at $749,000 after purchasing an additional 4,691 shares during the last quarter. International Assets Investment Management LLC increased its position in shares of Rithm Capital by 13.0% during the first quarter. International Assets Investment Management LLC now owns 16,707 shares of the real estate investment trust’s stock valued at $183,000 after acquiring an additional 1,916 shares in the last quarter. Silverberg Bernstein Capital Management LLC purchased a new position in Rithm Capital in the 1st quarter worth approximately $147,000. RFG Advisory LLC lifted its position in Rithm Capital by 18.1% in the 1st quarter. RFG Advisory LLC now owns 13,515 shares of the real estate investment trust’s stock valued at $151,000 after acquiring an additional 2,073 shares in the last quarter. Finally, Melia Wealth LLC purchased a new stake in Rithm Capital during the 1st quarter valued at $2,370,000. 44.92% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Piper Sandler lifted their price objective on Rithm Capital from $10.50 to $12.50 and gave the stock a “neutral” rating in a report on Tuesday, May 14th. B. Riley reiterated a “buy” rating and set a $14.00 target price (up from $13.00) on shares of Rithm Capital in a research note on Friday, May 10th. Keefe, Bruyette & Woods increased their price target on Rithm Capital from $12.00 to $12.50 and gave the company an “outperform” rating in a report on Thursday, May 2nd. Wedbush reaffirmed an “outperform” rating and issued a $13.00 price objective on shares of Rithm Capital in a report on Thursday, May 9th. Finally, Argus increased their target price on Rithm Capital from $11.00 to $12.00 and gave the company a “buy” rating in a report on Tuesday, March 5th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $12.32.

Rithm Capital Stock Down 0.5 %

RITM stock opened at $10.89 on Thursday. The business’s 50-day moving average price is $11.16 and its 200-day moving average price is $10.91. The stock has a market cap of $5.27 billion, a P/E ratio of 7.26 and a beta of 1.80. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.20. Rithm Capital Corp. has a twelve month low of $8.87 and a twelve month high of $11.60.

Rithm Capital Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Monday, July 1st will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 9.18%. The ex-dividend date of this dividend is Monday, July 1st. Rithm Capital’s dividend payout ratio is currently 66.67%.

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.