Boston Partners Invests $996,000 in Rithm Capital Corp. (NYSE:RITM)

Boston Partners acquired a new stake in Rithm Capital Corp. (NYSE:RITM) in the fourth quarter, HoldingsChannel.com reports. The fund acquired 91,949 shares of the real estate investment trust’s stock, valued at approximately $996,000.

A number of other institutional investors also recently added to or reduced their stakes in RITM. Victory Capital Management Inc. boosted its position in shares of Rithm Capital by 10.9% during the 3rd quarter. Victory Capital Management Inc. now owns 199,333 shares of the real estate investment trust’s stock worth $2,262,000 after purchasing an additional 19,596 shares in the last quarter. Empowered Funds LLC lifted 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 valued at $176,000 after purchasing an additional 1,216 shares during the period. Advisors Asset Management Inc. boosted its holdings in Rithm Capital by 2.3% during the third quarter. Advisors Asset Management Inc. now owns 119,344 shares of the real estate investment trust’s stock worth $1,355,000 after buying an additional 2,654 shares in the last quarter. Moran Wealth Management LLC acquired a new position in Rithm Capital during the third quarter worth about $266,000. Finally, Charles Schwab Investment Management Inc. increased its holdings in Rithm Capital by 7.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,364,962 shares of the real estate investment trust’s stock valued at $60,892,000 after buying an additional 366,600 shares in the last quarter. Hedge funds and other institutional investors own 44.92% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on RITM. B. Riley raised Rithm Capital to a “strong-buy” rating in a research note on Tuesday, January 7th. Piper Sandler upped 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. JMP Securities reaffirmed a “market outperform” rating and set a $12.50 price target on shares of Rithm Capital in a research note on Thursday, January 23rd. Finally, Keefe, Bruyette & Woods boosted their price objective 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. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Rithm Capital currently has a consensus rating of “Buy” and an average price target of $13.25.

Rithm Capital Stock Performance

Rithm Capital stock opened at $11.59 on Friday. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.35 and a current ratio of 1.09. Rithm Capital Corp. has a fifty-two week low of $10.38 and a fifty-two week high of $12.20. The stock has a fifty day moving average of $11.64 and a two-hundred day moving average of $11.23. The company has a market capitalization of $6.03 billion, a price-to-earnings ratio of 6.94 and a beta of 1.83.

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

Rithm Capital Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.63%. Rithm Capital’s dividend payout ratio is presently 59.88%.

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.