Moore Capital Management LP Acquires 365,000 Shares of Rithm Capital Corp. (NYSE:RITM)

Moore Capital Management LP boosted its stake in shares of Rithm Capital Corp. (NYSE:RITM) by 30.9% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,545,000 shares of the real estate investment trust’s stock after purchasing an additional 365,000 shares during the period. Moore Capital Management LP owned about 0.30% of Rithm Capital worth $16,732,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank bought a new position in Rithm Capital in the 4th quarter worth approximately $76,082,000. Balyasny Asset Management L.P. grew its position in shares of Rithm Capital by 48.6% during the fourth quarter. Balyasny Asset Management L.P. now owns 6,535,525 shares of the real estate investment trust’s stock valued at $70,780,000 after purchasing an additional 2,136,342 shares in the last quarter. First Trust Advisors LP increased its holdings in shares of Rithm Capital by 78.3% in the fourth quarter. First Trust Advisors LP now owns 3,304,999 shares of the real estate investment trust’s stock worth $35,793,000 after purchasing an additional 1,451,829 shares during the last quarter. Wells Fargo & Company MN lifted its position in shares of Rithm Capital by 113.9% in the fourth quarter. Wells Fargo & Company MN now owns 1,464,456 shares of the real estate investment trust’s stock worth $15,860,000 after buying an additional 779,771 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in Rithm Capital by 29.6% during the fourth quarter. Northern Trust Corp now owns 3,284,237 shares of the real estate investment trust’s stock valued at $35,568,000 after buying an additional 750,656 shares during the last quarter. Institutional investors own 44.92% of the company’s stock.

Rithm Capital Trading Down 0.4%

Shares of NYSE RITM opened at $11.23 on Monday. Rithm Capital Corp. has a twelve month low of $9.13 and a twelve month high of $12.20. The company has a quick ratio of 1.35, a current ratio of 1.09 and a debt-to-equity ratio of 1.74. The business has a fifty day simple moving average of $10.99 and a two-hundred day simple moving average of $11.12. The firm has a market cap of $5.95 billion, a PE ratio of 6.72 and a beta of 1.32.

Rithm Capital (NYSE:RITM) last released its quarterly earnings data on Friday, April 25th. The real estate investment trust reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.07. Rithm Capital had a return on equity of 18.15% and a net margin of 17.79%. The firm had revenue of $28.89 million during the quarter, compared to the consensus estimate of $1.27 billion. During the same period in the previous year, the company posted $0.48 earnings per share. Analysts expect that Rithm Capital Corp. will post 1.93 earnings per share for the current fiscal year.

Rithm Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st were paid a dividend of $0.25 per share. The ex-dividend date was Monday, March 31st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.90%. Rithm Capital’s dividend payout ratio is presently 83.33%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on RITM shares. UBS Group reduced their price target on shares of Rithm Capital from $14.00 to $13.00 and set a “buy” rating on the stock in a research report on Wednesday, April 16th. Piper Sandler raised shares of Rithm Capital from a “neutral” rating to an “overweight” rating and increased their price target for the company from $12.50 to $14.00 in a report on Monday, April 28th. Jones Trading reiterated a “buy” rating and issued a $12.50 price target on shares of Rithm Capital in a research report on Tuesday, April 29th. Wedbush restated an “outperform” rating and set a $14.00 price objective on shares of Rithm Capital in a research report on Friday, March 28th. Finally, BTIG Research reiterated a “buy” rating and issued a $16.00 target price on shares of Rithm Capital in a report on Friday, April 25th. Eight equities research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, Rithm Capital has an average rating of “Buy” and a consensus price target of $13.56.

About Rithm Capital

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.