Bank of New York Mellon Corp Raises Stake in Rithm Capital Corp. (NYSE:RITM)

Bank of New York Mellon Corp raised its position in Rithm Capital Corp. (NYSE:RITM) by 9.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,916,453 shares of the real estate investment trust’s stock after purchasing an additional 159,506 shares during the period. Bank of New York Mellon Corp owned 0.37% of Rithm Capital worth $20,755,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Truvestments Capital LLC purchased a new stake in shares of Rithm Capital during the 3rd quarter worth approximately $43,000. Wilmington Savings Fund Society FSB purchased a new stake in Rithm Capital in the third quarter valued at $43,000. Householder Group Estate & Retirement Specialist LLC boosted its stake in 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 valued at $48,000 after acquiring an additional 2,062 shares in the last quarter. FNY Investment Advisers LLC grew its holdings in shares of Rithm Capital by 8,600.0% during the fourth quarter. FNY Investment Advisers LLC now owns 8,700 shares of the real estate investment trust’s stock worth $94,000 after purchasing an additional 8,600 shares during the last quarter. Finally, Periscope Capital Inc. acquired a new stake in shares of Rithm Capital during the third quarter worth about $114,000. 44.92% of the stock is currently owned by institutional investors and hedge funds.

Rithm Capital Price Performance

Shares of RITM opened at $11.52 on Tuesday. The firm has a market capitalization of $6.00 billion, a PE ratio of 6.90 and a beta of 1.83. The stock’s 50 day moving average is $11.50 and its two-hundred day moving average is $11.23. Rithm Capital Corp. has a twelve month low of $10.38 and a twelve month high of $12.20. 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 announced its quarterly earnings data on Thursday, February 6th. The real estate investment trust reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.16. Rithm Capital had a return on equity of 18.15% and a net margin of 17.79%. Research analysts anticipate that Rithm Capital Corp. will post 1.93 earnings per share for the current year.

Rithm Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, December 31st were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 8.68%. The ex-dividend date was Tuesday, December 31st. Rithm Capital’s dividend payout ratio (DPR) is 59.88%.

Analyst Ratings Changes

A number of research firms recently issued reports on RITM. B. Riley upgraded Rithm Capital to a “strong-buy” rating in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods raised their target price on shares of Rithm Capital from $13.00 to $13.50 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. JMP Securities reiterated a “market outperform” rating and issued a $12.50 price target on shares of Rithm Capital in a research report on Thursday, January 23rd. Piper Sandler lifted their price objective on shares of Rithm Capital from $11.50 to $12.50 and gave the company a “neutral” rating in a research note on Friday, February 7th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $13.00 price target on shares of Rithm Capital in a research report on Thursday, November 21st. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Rithm Capital presently has a consensus rating of “Buy” and a consensus target price of $13.25.

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.