KBC Group NV Has $200,000 Stake in Rithm Capital Corp. (NYSE:RITM)

KBC Group NV boosted its stake in shares of Rithm Capital Corp. (NYSE:RITM) by 59.5% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 18,423 shares of the real estate investment trust’s stock after purchasing an additional 6,872 shares during the quarter. KBC Group NV’s holdings in Rithm Capital were worth $200,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RITM. SeaCrest Wealth Management LLC boosted its holdings in shares of Rithm Capital by 1.0% during the 4th quarter. SeaCrest Wealth Management LLC now owns 94,566 shares of the real estate investment trust’s stock worth $1,024,000 after buying an additional 951 shares during the period. AQR Capital Management LLC grew its position in shares of Rithm Capital by 4.1% in the second quarter. AQR Capital Management LLC now owns 29,848 shares of the real estate investment trust’s stock valued at $326,000 after purchasing an additional 1,183 shares during the last quarter. Empowered Funds LLC increased its stake in shares of Rithm Capital by 8.3% in the third quarter. Empowered Funds LLC now owns 15,824 shares of the real estate investment trust’s stock worth $176,000 after purchasing an additional 1,216 shares during the period. HB Wealth Management LLC lifted its position in shares of Rithm Capital by 10.4% during the 4th quarter. HB Wealth Management LLC now owns 15,024 shares of the real estate investment trust’s stock worth $163,000 after purchasing an additional 1,411 shares during the last quarter. Finally, Atomi Financial Group Inc. boosted its stake in Rithm Capital by 6.4% during the 3rd quarter. Atomi Financial Group Inc. now owns 24,711 shares of the real estate investment trust’s stock valued at $280,000 after purchasing an additional 1,481 shares during the period. Institutional investors and hedge funds own 44.92% of the company’s stock.

Rithm Capital Trading Up 1.2 %

RITM stock opened at $11.47 on Wednesday. Rithm Capital Corp. has a 1-year low of $9.97 and a 1-year high of $12.02. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.63. The business’s 50 day moving average is $11.12 and its 200-day moving average is $11.14. The firm has a market cap of $5.96 billion, a P/E ratio of 11.58 and a beta of 1.79.

Rithm Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Shareholders 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 yield of 8.72%. Rithm Capital’s dividend payout ratio is currently 101.01%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on RITM. Wedbush reissued an “outperform” rating and issued a $14.00 price objective on shares of Rithm Capital in a research report on Thursday, November 7th. 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. JMP Securities reaffirmed a “market outperform” rating and set a $12.50 price objective on shares of Rithm Capital in a research report on Thursday, January 23rd. B. Riley raised Rithm Capital to a “strong-buy” rating in a research report on Tuesday, January 7th. Finally, Keefe, Bruyette & Woods upped their price target on Rithm Capital from $13.00 to $13.50 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $12.94.

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.