Cerity Partners LLC Takes $737,000 Position in Rithm Capital Corp. (NYSE:RITM)

Cerity Partners LLC bought a new stake in Rithm Capital Corp. (NYSE:RITM) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor bought 68,976 shares of the real estate investment trust’s stock, valued at approximately $737,000.

Other hedge funds have also bought and sold shares of the company. Northern Trust Corp raised its stake in Rithm Capital by 69.3% in the third quarter. Northern Trust Corp now owns 3,830,066 shares of the real estate investment trust’s stock valued at $35,581,000 after buying an additional 1,567,489 shares during the period. Qube Research & Technologies Ltd lifted its holdings in Rithm Capital by 360.6% during the 3rd quarter. Qube Research & Technologies Ltd now owns 956,788 shares of the real estate investment trust’s stock valued at $8,889,000 after purchasing an additional 749,058 shares during the last quarter. Invesco Ltd. boosted its position in Rithm Capital by 67.0% during the third quarter. Invesco Ltd. now owns 1,198,412 shares of the real estate investment trust’s stock worth $11,133,000 after purchasing an additional 480,769 shares during the period. Lewis Asset Management LLC acquired a new position in shares of Rithm Capital in the fourth quarter valued at $2,813,000. Finally, Algert Global LLC bought a new position in shares of Rithm Capital in the third quarter valued at about $2,025,000. 44.92% of the stock is currently owned by institutional investors and hedge funds.

Rithm Capital Stock Up 1.4 %

RITM stock opened at $11.09 on Wednesday. Rithm Capital Corp. has a 52 week low of $7.59 and a 52 week high of $11.33. The business has a 50-day simple moving average of $10.83 and a 200 day simple moving average of $10.44. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.12. The company has a market cap of $5.37 billion, a PE ratio of 10.08 and a beta of 1.82.

Rithm Capital (NYSE:RITM) last issued its earnings results on Wednesday, February 7th. The real estate investment trust reported $0.51 EPS for the quarter, beating the consensus estimate of $0.35 by $0.16. The company had revenue of $709.47 million during the quarter, compared to analysts’ expectations of $887.04 million. Rithm Capital had a net margin of 17.15% and a return on equity of 18.49%. During the same period in the previous year, the company earned $0.33 EPS. Sell-side analysts anticipate that Rithm Capital Corp. will post 1.69 EPS for the current fiscal year.

Rithm Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Monday, April 1st will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 9.02%. The ex-dividend date is Thursday, March 28th. Rithm Capital’s payout ratio is presently 90.91%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on RITM. Wedbush reiterated an “outperform” rating and issued a $13.00 price target on shares of Rithm Capital in a research note on Monday, February 26th. Jonestrading upped their target price on Rithm Capital from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Thursday, February 22nd. Argus lifted their price target on Rithm Capital from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Tuesday, March 5th. Keefe, Bruyette & Woods upped their price objective on Rithm Capital from $11.50 to $12.00 and gave the company an “outperform” rating in a report on Tuesday, April 16th. Finally, JMP Securities reissued a “market outperform” rating and set a $11.00 target price on shares of Rithm Capital in a report on Thursday, April 18th. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and an average price target of $12.00.

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.