Proficio Capital Partners LLC Purchases New Stake in Rithm Capital Corp. (NYSE:RITM)

Proficio Capital Partners LLC acquired a new position in shares of Rithm Capital Corp. (NYSE:RITM) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 16,245 shares of the real estate investment trust’s stock, valued at approximately $176,000.

Other hedge funds have also recently bought and sold shares of the company. Truvestments Capital LLC bought a new stake in shares of Rithm Capital during the 3rd quarter worth $43,000. Wilmington Savings Fund Society FSB acquired a new position in Rithm Capital during the third quarter worth about $43,000. Householder Group Estate & Retirement Specialist LLC lifted its holdings 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 grew its holdings in shares of 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 during the last quarter. Finally, Perigon Wealth Management LLC acquired a new position in Rithm Capital during the 4th quarter worth approximately $120,000. 44.92% of the stock is owned by institutional investors.

Analyst Ratings Changes

RITM has been the subject of several research reports. Keefe, Bruyette & Woods increased their price objective on shares of Rithm Capital from $13.00 to $13.50 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. Piper Sandler raised their price objective on Rithm Capital from $11.50 to $12.50 and gave the company a “neutral” rating in a report on Friday, February 7th. JMP Securities reaffirmed a “market outperform” rating and issued a $12.50 target price on shares of Rithm Capital in a report on Thursday, January 23rd. Finally, B. Riley raised Rithm Capital to a “strong-buy” rating in a research note on Tuesday, January 7th. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Rithm Capital currently has a consensus rating of “Buy” and a consensus target price of $13.25.

Rithm Capital Stock Performance

Shares of Rithm Capital stock opened at $11.63 on Friday. The stock has a market cap of $6.05 billion, a price-to-earnings ratio of 6.96 and a beta of 1.83. Rithm Capital Corp. has a twelve month low of $10.38 and a twelve month high of $12.20. The company’s fifty day moving average is $11.69 and its 200 day moving average is $11.24. The company has a quick ratio of 1.35, a current ratio of 1.09 and a debt-to-equity ratio of 1.74.

Rithm Capital (NYSE:RITM) last released its quarterly earnings results on Thursday, February 6th. The real estate investment trust reported $0.60 EPS for the quarter, beating 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%. Sell-side analysts forecast that Rithm Capital Corp. will post 1.93 EPS for the current year.

Rithm Capital Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.00 annualized dividend and a yield of 8.60%. Rithm Capital’s payout ratio is 59.88%.

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.