Rithm Capital Corp. (NYSE:RITM) Stake Boosted by Rhumbline Advisers

Rhumbline Advisers raised its position in shares of Rithm Capital Corp. (NYSE:RITM) by 7.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 495,456 shares of the real estate investment trust’s stock after buying an additional 35,405 shares during the quarter. Rhumbline Advisers owned 0.10% of Rithm Capital worth $5,366,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC raised its holdings in shares of Rithm Capital by 15.9% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 21,683 shares of the real estate investment trust’s stock worth $235,000 after acquiring an additional 2,978 shares in the last quarter. Essex Financial Services Inc. raised its stake in shares of Rithm Capital by 8.1% during the 4th quarter. Essex Financial Services Inc. now owns 17,131 shares of the real estate investment trust’s stock worth $186,000 after purchasing an additional 1,277 shares in the last quarter. BostonPremier Wealth LLC purchased a new stake in shares of Rithm Capital during the 4th quarter worth about $394,000. Summit Trail Advisors LLC raised its stake in shares of Rithm Capital by 2.0% during the 4th quarter. Summit Trail Advisors LLC now owns 49,380 shares of the real estate investment trust’s stock worth $547,000 after purchasing an additional 967 shares in the last quarter. Finally, Entropy Technologies LP grew its stake in shares of Rithm Capital by 12.4% in the 4th quarter. Entropy Technologies LP now owns 91,372 shares of the real estate investment trust’s stock valued at $990,000 after buying an additional 10,093 shares in the last quarter. 44.92% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. JMP Securities reissued a “market outperform” rating and set a $12.50 target price on shares of Rithm Capital in a research report on Thursday, January 23rd. Royal Bank of Canada reiterated an “outperform” rating and set a $13.00 price target on shares of Rithm Capital in a research note on Thursday, November 21st. Keefe, Bruyette & Woods raised their price objective on Rithm Capital from $13.00 to $13.50 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. Wedbush reaffirmed an “outperform” rating and set a $14.00 target price on shares of Rithm Capital in a research report on Thursday, November 7th. Finally, B. Riley raised shares of Rithm Capital to a “strong-buy” rating in a research report on Tuesday, January 7th. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Rithm Capital presently has an average rating of “Buy” and an average price target of $13.07.

Rithm Capital Price Performance

NYSE RITM opened at $12.07 on Friday. The stock has a market cap of $6.28 billion, a price-to-earnings ratio of 7.22 and a beta of 1.79. The business has a 50 day simple moving average of $11.36 and a 200 day simple moving average of $11.20. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.35 and a current ratio of 1.09. Rithm Capital Corp. has a 52-week low of $10.38 and a 52-week high of $12.18.

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, beating analysts’ consensus estimates of $0.44 by $0.16. Rithm Capital had a net margin of 17.79% and a return on equity of 18.15%. Analysts anticipate that Rithm Capital Corp. will post 1.93 earnings per share for the current fiscal year.

Rithm Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 8.29%. The ex-dividend date was Tuesday, December 31st. Rithm Capital’s dividend payout ratio is currently 59.88%.

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.