Allspring Global Investments Holdings LLC Increases Holdings in Rithm Capital Corp. (NYSE:RITM)

Allspring Global Investments Holdings LLC lifted its stake in Rithm Capital Corp. (NYSE:RITM) by 15.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 21,683 shares of the real estate investment trust’s stock after buying an additional 2,978 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Rithm Capital were worth $235,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Truvestments Capital LLC bought a new position in Rithm Capital during the 3rd quarter valued at approximately $43,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Rithm Capital during the third quarter valued at approximately $43,000. Householder Group Estate & Retirement Specialist LLC grew its stake in shares of Rithm Capital by 86.7% in the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 4,439 shares of the real estate investment trust’s stock worth $48,000 after acquiring an additional 2,062 shares during the last quarter. FNY Investment Advisers LLC increased its stake in Rithm Capital by 8,600.0% during the 4th quarter. FNY Investment Advisers LLC now owns 8,700 shares of the real estate investment trust’s stock valued at $94,000 after purchasing an additional 8,600 shares in the last quarter. Finally, Allworth Financial LP raised its holdings in Rithm Capital by 281.2% in the 3rd quarter. Allworth Financial LP now owns 8,695 shares of the real estate investment trust’s stock worth $99,000 after acquiring an additional 6,414 shares during the last quarter. Institutional investors own 44.92% of the company’s stock.

Rithm Capital Stock Up 0.7 %

Shares of RITM opened at $11.94 on Wednesday. Rithm Capital Corp. has a 12-month low of $10.38 and a 12-month high of $12.10. The firm has a fifty day moving average price of $11.34 and a 200-day moving average price of $11.20. The firm has a market capitalization of $6.22 billion, a P/E ratio of 7.15 and a beta of 1.79. The company has a current ratio of 1.09, a quick ratio of 1.35 and a debt-to-equity ratio of 1.74.

Rithm Capital (NYSE:RITM) last issued its earnings results on Thursday, February 6th. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.16. Rithm Capital had a net margin of 17.79% and a return on equity of 18.15%. Equities research analysts expect that Rithm Capital Corp. will post 1.93 earnings per share for the current year.

Rithm Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, December 31st were paid a dividend of $0.25 per share. The ex-dividend date was Tuesday, December 31st. This represents a $1.00 annualized dividend and a dividend yield of 8.37%. Rithm Capital’s dividend payout ratio (DPR) is presently 59.88%.

Analysts Set New Price Targets

A number of brokerages have recently commented on RITM. Piper Sandler lifted their price target on shares of Rithm Capital from $11.50 to $12.50 and gave the stock a “neutral” rating in a research note on Friday, February 7th. Royal Bank of Canada reiterated an “outperform” rating and issued a $13.00 price target on shares of Rithm Capital in a research report on Thursday, November 21st. Wedbush reaffirmed an “outperform” rating and set a $14.00 price objective on shares of Rithm Capital in a report on Thursday, November 7th. B. Riley upgraded Rithm Capital to a “strong-buy” rating in a research report on Tuesday, January 7th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Rithm Capital from $13.00 to $13.50 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $13.07.

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.