Aigen Investment Management LP Purchases Shares of 25,054 Rithm Capital Corp. (NYSE:RITM)

Aigen Investment Management LP bought a new position in Rithm Capital Corp. (NYSE:RITM - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 25,054 shares of the real estate investment trust's stock, valued at approximately $271,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC lifted its position in Rithm Capital by 63.5% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 18,167 shares of the real estate investment trust's stock valued at $206,000 after acquiring an additional 7,057 shares during the period. US Bancorp DE increased its stake in shares of Rithm Capital by 18.0% during the third quarter. US Bancorp DE now owns 31,303 shares of the real estate investment trust's stock valued at $355,000 after purchasing an additional 4,765 shares in the last quarter. Concurrent Investment Advisors LLC purchased a new position in shares of Rithm Capital during the third quarter valued at approximately $961,000. Covestor Ltd boosted its position in shares of Rithm Capital by 33.9% in the 3rd quarter. Covestor Ltd now owns 21,480 shares of the real estate investment trust's stock worth $244,000 after purchasing an additional 5,440 shares in the last quarter. Finally, Sigma Planning Corp grew its stake in shares of Rithm Capital by 137.2% in the 3rd quarter. Sigma Planning Corp now owns 74,661 shares of the real estate investment trust's stock worth $847,000 after buying an additional 43,189 shares during the last quarter. Hedge funds and other institutional investors own 44.92% of the company's stock.

Remove Ads

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the company. B. Riley upgraded Rithm Capital to a "strong-buy" rating in a research note on Tuesday, January 7th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $13.00 price target on shares of Rithm Capital in a research report on Thursday, November 21st. JMP Securities reissued a "market outperform" rating and set a $12.50 price objective on shares of Rithm Capital in a research report on Thursday, January 23rd. Keefe, Bruyette & Woods raised their price objective on shares of Rithm Capital from $13.00 to $13.50 and gave the company an "outperform" rating in a research note on Tuesday, December 3rd. Finally, Piper Sandler upped their target price on shares of Rithm Capital from $11.50 to $12.50 and gave the stock a "neutral" rating in a research note on Friday, February 7th. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Buy" and a consensus price target of $13.25.

Rithm Capital Stock Performance

NYSE RITM traded down $0.11 during trading hours on Wednesday, hitting $11.43. The company's stock had a trading volume of 3,059,436 shares, compared to its average volume of 3,416,827. Rithm Capital Corp. has a 12 month low of $10.38 and a 12 month high of $12.20. The company's 50 day simple moving average is $11.52 and its two-hundred day simple moving average is $11.23. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.09 and a quick ratio of 1.35. The company has a market cap of $5.95 billion, a P/E ratio of 6.84 and a beta of 1.83.

Rithm Capital (NYSE:RITM - Get Free Report) last announced its quarterly earnings results on Thursday, February 6th. The real estate investment trust reported $0.60 EPS for the quarter, topping analysts' consensus estimates of $0.44 by $0.16. Rithm Capital had a net margin of 17.79% and a return on equity of 18.15%. As a group, sell-side analysts expect that Rithm Capital Corp. will post 1.93 EPS for the current fiscal year.

Rithm Capital Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.00 dividend on an annualized basis and a yield of 8.75%. Rithm Capital's dividend payout ratio is presently 59.88%.

Rithm Capital Company 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.