Rithm Capital Corp. (NYSE:RITM) Shares Purchased by RFG Advisory LLC

RFG Advisory LLC lifted its position in Rithm Capital Corp. (NYSE:RITM) by 18.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 13,515 shares of the real estate investment trust’s stock after purchasing an additional 2,073 shares during the quarter. RFG Advisory LLC’s holdings in Rithm Capital were worth $151,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Melia Wealth LLC acquired a new stake in shares of Rithm Capital in the 1st quarter valued at about $2,370,000. Kapitalo Investimentos Ltda purchased a new stake in Rithm Capital during the 4th quarter valued at approximately $134,000. B. Riley Wealth Advisors Inc. raised its stake in Rithm Capital by 12.2% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 30,732 shares of the real estate investment trust’s stock valued at $336,000 after acquiring an additional 3,337 shares during the last quarter. Slagle Financial LLC raised its stake in Rithm Capital by 99.1% during the 4th quarter. Slagle Financial LLC now owns 474,538 shares of the real estate investment trust’s stock valued at $5,068,000 after acquiring an additional 236,199 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake in Rithm Capital by 3.9% during the 4th quarter. Wellington Management Group LLP now owns 2,106,184 shares of the real estate investment trust’s stock valued at $22,494,000 after acquiring an additional 78,838 shares during the last quarter. 44.92% of the stock is owned by institutional investors and hedge funds.

Rithm Capital Price Performance

Shares of NYSE:RITM opened at $10.89 on Thursday. The business’s fifty day moving average price is $11.16 and its two-hundred day moving average price is $10.91. The stock has a market cap of $5.27 billion, a PE ratio of 7.26 and a beta of 1.80. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.29 and a current ratio of 0.29. Rithm Capital Corp. has a one year low of $8.87 and a one year high of $11.60.

Rithm Capital Dividend Announcement

The business also recently announced 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 dividend on an annualized basis and a yield of 9.18%. The ex-dividend date is Monday, July 1st. Rithm Capital’s dividend payout ratio (DPR) is presently 66.67%.

Wall Street Analyst Weigh In

Several analysts have commented on the company. Argus upped their price objective on Rithm Capital from $11.00 to $12.00 and gave the company a “buy” rating in a research note on Tuesday, March 5th. Royal Bank of Canada reissued an “outperform” rating and set a $12.00 target price on shares of Rithm Capital in a research note on Monday, April 1st. JMP Securities reissued a “market outperform” rating and set a $11.00 target price on shares of Rithm Capital in a research note on Thursday, April 18th. Piper Sandler increased their target price on Rithm Capital from $10.50 to $12.50 and gave the stock a “neutral” rating in a research note on Tuesday, May 14th. Finally, Wedbush reissued an “outperform” rating and set a $13.00 target price on shares of Rithm Capital in a research note on Thursday, May 9th. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, Rithm Capital presently has a consensus rating of “Moderate Buy” and an average target price of $12.32.

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.