Rithm Capital Corp. (NYSE:RITM) Shares Bought by PFG Investments LLC

PFG Investments LLC raised its stake in shares of Rithm Capital Corp. (NYSE:RITM) by 7.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 57,515 shares of the real estate investment trust’s stock after acquiring an additional 3,787 shares during the period. PFG Investments LLC’s holdings in Rithm Capital were worth $614,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Lazard Asset Management LLC purchased a new position in Rithm Capital during the 4th quarter valued at about $34,000. American International Group Inc. purchased a new position in shares of Rithm Capital in the fourth quarter valued at approximately $36,000. Castleview Partners LLC grew its holdings in shares of Rithm Capital by 690.6% in the third quarter. Castleview Partners LLC now owns 4,016 shares of the real estate investment trust’s stock valued at $37,000 after purchasing an additional 3,508 shares in the last quarter. Advisory Services Network LLC increased its stake in Rithm Capital by 55.5% during the 1st quarter. Advisory Services Network LLC now owns 4,929 shares of the real estate investment trust’s stock worth $39,000 after buying an additional 1,760 shares during the period. Finally, BluePath Capital Management LLC acquired a new stake in Rithm Capital during the 3rd quarter worth approximately $70,000. 44.92% of the stock is owned by hedge funds and other institutional investors.

Rithm Capital Stock Performance

NYSE RITM opened at $11.33 on Thursday. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.12. Rithm Capital Corp. has a 12-month low of $7.59 and a 12-month high of $11.33. The stock has a market capitalization of $5.47 billion, a price-to-earnings ratio of 10.30 and a beta of 1.82. The business’s 50 day moving average is $10.78 and its two-hundred day moving average is $10.29.

Rithm Capital (NYSE:RITM) last released its quarterly earnings data on Wednesday, February 7th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.16. Rithm Capital had a return on equity of 18.49% and a net margin of 17.15%. The firm had revenue of $709.47 million during the quarter, compared to analysts’ expectations of $887.04 million. During the same quarter in the prior year, the business posted $0.33 earnings per share. Research analysts expect that Rithm Capital Corp. will post 1.67 EPS for the current year.

Rithm Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Monday, April 1st will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 8.83%. The ex-dividend date is Thursday, March 28th. Rithm Capital’s dividend payout ratio is currently 90.91%.

Wall Street Analyst Weigh In

RITM has been the topic of a number of recent research reports. Wedbush reaffirmed an “outperform” rating and set a $13.00 price objective on shares of Rithm Capital in a research report on Monday, February 26th. JMP Securities increased their price target on Rithm Capital from $10.50 to $11.00 and gave the company a “market outperform” rating in a research report on Thursday, January 18th. Jonestrading boosted their price objective on Rithm Capital from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Thursday, February 22nd. UBS Group initiated coverage on shares of Rithm Capital in a report on Wednesday, December 6th. They issued a “buy” rating and a $12.50 target price on the stock. Finally, B. Riley increased their price objective on shares of Rithm Capital from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $12.00.

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.