Maridea Wealth Management LLC Acquires New Shares in Rithm Capital Corp. (NYSE:RITM)

Maridea Wealth Management LLC bought a new position in shares of Rithm Capital Corp. (NYSE:RITM) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 70,248 shares of the real estate investment trust’s stock, valued at approximately $761,000.

A number of other hedge funds have also recently made changes to their positions in RITM. SeaCrest Wealth Management LLC lifted its stake in shares of Rithm Capital by 1.0% during the fourth 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. 1620 Investment Advisors Inc. increased its stake in shares of Rithm Capital by 2.1% in the 4th quarter. 1620 Investment Advisors Inc. now owns 46,035 shares of the real estate investment trust’s stock valued at $499,000 after purchasing an additional 960 shares in the last quarter. Summit Trail Advisors LLC increased its position in shares of Rithm Capital by 2.0% in the fourth quarter. Summit Trail Advisors LLC now owns 49,380 shares of the real estate investment trust’s stock valued at $547,000 after buying an additional 967 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its position in shares of Rithm Capital by 2.9% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 35,792 shares of the real estate investment trust’s stock valued at $388,000 after buying an additional 1,016 shares in the last quarter. Finally, US Bancorp DE grew its stake in Rithm Capital by 3.7% in the 4th quarter. US Bancorp DE now owns 32,458 shares of the real estate investment trust’s stock valued at $352,000 after acquiring an additional 1,155 shares during the period. 44.92% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on RITM. 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 report on Tuesday, December 3rd. JMP Securities reiterated a “market outperform” rating and set a $12.50 price objective on shares of Rithm Capital in a research note on Thursday, January 23rd. B. Riley upgraded Rithm Capital to a “strong-buy” rating in a research report on Tuesday, January 7th. Piper Sandler boosted their price target on Rithm Capital from $11.50 to $12.50 and gave the stock a “neutral” rating in a research report on Friday, February 7th. Finally, Wedbush reaffirmed an “outperform” rating and set a $14.00 target price on shares of Rithm Capital in a research note on Friday. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, Rithm Capital presently has an average rating of “Buy” and an average target price of $13.25.

Rithm Capital Price Performance

NYSE:RITM opened at $11.39 on Friday. The stock has a 50 day moving average price of $11.69 and a 200 day moving average price of $11.23. The stock has a market cap of $5.93 billion, a PE ratio of 6.82 and a beta of 1.83. 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 one year low of $10.38 and a one year high of $12.20.

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

Rithm Capital Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.00 annualized dividend and a dividend yield of 8.78%. Rithm Capital’s dividend payout ratio (DPR) is 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.