JPMorgan Chase & Co. Has $52.30 Million Stock Position in Rithm Capital Corp. (NYSE:RITM)

JPMorgan Chase & Co. boosted its position in Rithm Capital Corp. (NYSE:RITM) by 119.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,608,008 shares of the real estate investment trust’s stock after buying an additional 2,504,529 shares during the period. JPMorgan Chase & Co. owned approximately 0.89% of Rithm Capital worth $52,301,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its position in shares of Rithm Capital by 7.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,364,962 shares of the real estate investment trust’s stock worth $60,892,000 after acquiring an additional 366,600 shares in the last quarter. Van ECK Associates Corp raised its stake in shares of Rithm Capital by 20.7% in the third quarter. Van ECK Associates Corp now owns 2,004,057 shares of the real estate investment trust’s stock worth $21,163,000 after purchasing an additional 343,678 shares during the last quarter. Neo Ivy Capital Management bought a new position in shares of Rithm Capital in the third quarter valued at approximately $1,476,000. Waterfall Asset Management LLC purchased a new position in shares of Rithm Capital during the second quarter valued at approximately $2,209,000. Finally, SG Americas Securities LLC purchased a new stake in Rithm Capital in the 3rd quarter valued at $4,112,000. Institutional investors own 44.92% of the company’s stock.

Wall Street Analysts Forecast Growth

RITM has been the topic of a number of analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $13.00 price objective on shares of Rithm Capital in a report on Thursday, November 21st. Keefe, Bruyette & Woods boosted their target price on Rithm Capital from $13.00 to $13.50 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. Finally, Wedbush reaffirmed an “outperform” rating and set a $14.00 price target on shares of Rithm Capital in a research report on Thursday, November 7th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $12.94.

Rithm Capital Trading Up 2.7 %

NYSE:RITM opened at $11.15 on Friday. Rithm Capital Corp. has a 12 month low of $9.97 and a 12 month high of $12.02. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.63. The firm’s 50 day moving average is $10.90 and its 200 day moving average is $11.10. The stock has a market capitalization of $5.80 billion, a PE ratio of 11.26 and a beta of 1.79.

Rithm Capital (NYSE:RITM) last issued its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.12. The firm had revenue of $619.51 million for the quarter, compared to analyst estimates of $1.11 billion. Rithm Capital had a return on equity of 17.54% and a net margin of 14.99%. During the same period in the previous year, the company posted $0.58 earnings per share. Sell-side analysts expect that Rithm Capital Corp. will post 1.93 earnings per share for the current year.

Rithm Capital Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.97%. Rithm Capital’s dividend payout ratio (DPR) is presently 101.01%.

Rithm Capital 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.