Angel Oak Capital Advisors LLC Takes Position in Rithm Capital Corp. (NYSE:RITM)

Angel Oak Capital Advisors LLC acquired a new stake in shares of Rithm Capital Corp. (NYSE:RITM) in the 4th quarter, Holdings Channel.com reports. The fund acquired 283,870 shares of the real estate investment trust’s stock, valued at approximately $3,074,000. Rithm Capital makes up 4.1% of Angel Oak Capital Advisors LLC’s investment portfolio, making the stock its 4th largest position.

A number of other hedge funds and other institutional investors have also bought and sold shares of RITM. Truvestments Capital LLC bought a new position in Rithm Capital in the 3rd quarter valued at approximately $43,000. Wilmington Savings Fund Society FSB bought a new position in shares of Rithm Capital during the third quarter valued at $43,000. Householder Group Estate & Retirement Specialist LLC lifted its holdings in shares of Rithm Capital by 86.7% during 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 purchasing an additional 2,062 shares in the last quarter. Godsey & Gibb Inc. purchased a new stake in shares of Rithm Capital during the third quarter valued at $51,000. Finally, FNY Investment Advisers LLC increased its holdings in Rithm Capital by 8,600.0% in the 4th quarter. FNY Investment Advisers LLC now owns 8,700 shares of the real estate investment trust’s stock worth $94,000 after buying an additional 8,600 shares in the last quarter. Hedge funds and other institutional investors own 44.92% of the company’s stock.

Rithm Capital Price Performance

Shares of Rithm Capital stock opened at $12.03 on Tuesday. The stock’s fifty day moving average is $11.24 and its 200 day moving average is $11.16. Rithm Capital Corp. has a one year low of $10.36 and a one year high of $12.10. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.35 and a current ratio of 1.35. The stock has a market cap of $6.25 billion, a P/E ratio of 7.20 and a beta of 1.79.

Rithm Capital (NYSE:RITM) last posted its quarterly earnings results 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 net margin of 17.79% and a return on equity of 18.46%. Sell-side analysts anticipate that Rithm Capital Corp. will post 1.92 earnings per share for the current year.

Rithm Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st were paid a $0.25 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $1.00 annualized dividend and a yield of 8.32%. Rithm Capital’s payout ratio is 59.88%.

Wall Street Analyst Weigh In

RITM has been the topic of a number of recent analyst reports. Piper Sandler raised their price target on shares of Rithm Capital from $11.50 to $12.50 and gave the company a “neutral” rating in a report on Friday, February 7th. B. Riley upgraded shares of Rithm Capital to a “strong-buy” rating in a report on Tuesday, January 7th. JMP Securities reiterated a “market outperform” rating and set a $12.50 target price on shares of Rithm Capital in a research note on Thursday, January 23rd. Royal Bank of Canada restated an “outperform” rating and issued a $13.00 price target on shares of Rithm Capital in a research note on Thursday, November 21st. Finally, Wedbush reaffirmed an “outperform” rating and issued a $14.00 price objective on shares of Rithm Capital in a report on Thursday, November 7th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $12.94.

Rithm Capital 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.