Victory Capital Management Inc. Acquires 38,855 Shares of Rithm Capital Corp. (NYSE:RITM)

Victory Capital Management Inc. boosted its holdings in Rithm Capital Corp. (NYSE:RITM) by 19.5% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 238,188 shares of the real estate investment trust’s stock after acquiring an additional 38,855 shares during the quarter. Victory Capital Management Inc.’s holdings in Rithm Capital were worth $2,580,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Empowered Funds LLC increased its position in shares of Rithm Capital by 8.3% during the 3rd quarter. Empowered Funds LLC now owns 15,824 shares of the real estate investment trust’s stock valued at $176,000 after purchasing an additional 1,216 shares during the last quarter. LMR Partners LLP bought a new position in shares of Rithm Capital during the 3rd quarter valued at about $7,378,000. Advisors Asset Management Inc. increased its position in shares of Rithm Capital by 2.3% during the 3rd quarter. Advisors Asset Management Inc. now owns 119,344 shares of the real estate investment trust’s stock valued at $1,355,000 after purchasing an additional 2,654 shares during the last quarter. Moors & Cabot Inc. increased its position in shares of Rithm Capital by 3.1% during the 3rd quarter. Moors & Cabot Inc. now owns 80,459 shares of the real estate investment trust’s stock valued at $913,000 after purchasing an additional 2,428 shares during the last quarter. Finally, Moran Wealth Management LLC bought a new position in shares of Rithm Capital during the 3rd quarter valued at about $266,000. 44.92% of the stock is currently owned by institutional investors.

Rithm Capital Trading Up 2.1 %

NYSE RITM opened at $11.66 on Monday. Rithm Capital Corp. has a fifty-two week low of $10.38 and a fifty-two week high of $12.20. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.35 and a current ratio of 1.09. The stock has a 50 day simple moving average of $11.56 and a two-hundred day simple moving average of $11.23. The stock has a market cap of $6.07 billion, a P/E ratio of 6.98 and a beta of 1.83.

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

Analyst Ratings Changes

RITM has been the topic of several recent research reports. JMP Securities reiterated a “market outperform” rating and set a $12.50 price objective 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 objective on shares of Rithm Capital in a research report on Thursday, November 21st. B. Riley upgraded Rithm Capital to a “strong-buy” rating in a report on Tuesday, January 7th. Keefe, Bruyette & Woods increased their target price on Rithm Capital from $13.00 to $13.50 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. Finally, Piper Sandler increased their target price on Rithm Capital from $11.50 to $12.50 and gave the company a “neutral” rating in a report on Friday, February 7th. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $13.25.

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.