Alliancebernstein L.P. cut its stake in shares of Rithm Capital Corp. (NYSE:RITM - Free Report) by 20.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 295,755 shares of the real estate investment trust's stock after selling 74,905 shares during the quarter. Alliancebernstein L.P. owned about 0.06% of Rithm Capital worth $3,203,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. C M Bidwell & Associates Ltd. bought a new position in shares of Rithm Capital in the fourth quarter worth approximately $81,000. Wellington Management Group LLP boosted its stake in Rithm Capital by 0.9% during the 4th quarter. Wellington Management Group LLP now owns 3,600,461 shares of the real estate investment trust's stock valued at $38,993,000 after purchasing an additional 32,544 shares during the last quarter. Summit Securities Group LLC increased its holdings in shares of Rithm Capital by 415.6% in the 4th quarter. Summit Securities Group LLC now owns 23,200 shares of the real estate investment trust's stock worth $251,000 after purchasing an additional 18,700 shares in the last quarter. Maridea Wealth Management LLC purchased a new position in shares of Rithm Capital in the fourth quarter worth $761,000. Finally, Pictet Asset Management Holding SA lifted its holdings in shares of Rithm Capital by 20.3% during the fourth quarter. Pictet Asset Management Holding SA now owns 78,904 shares of the real estate investment trust's stock valued at $855,000 after purchasing an additional 13,315 shares in the last quarter. Institutional investors own 44.92% of the company's stock.
Wall Street Analyst Weigh In
RITM has been the subject of several research analyst reports. B. Riley upgraded Rithm Capital to a "strong-buy" rating in a report on Tuesday, January 7th. JMP Securities reiterated a "market outperform" rating and issued a $12.50 price target on shares of Rithm Capital in a research note on Thursday, January 23rd. Piper Sandler increased their price objective on shares of Rithm Capital from $11.50 to $12.50 and gave the company a "neutral" rating in a research report on Friday, February 7th. Finally, Wedbush reaffirmed an "outperform" rating and issued a $14.00 target price on shares of Rithm Capital in a research report on Friday, March 28th. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $13.25.
View Our Latest Stock Analysis on RITM
Rithm Capital Trading Up 3.1 %
Shares of RITM stock opened at $10.06 on Tuesday. Rithm Capital Corp. has a 1 year low of $9.13 and a 1 year high of $12.20. The firm has a fifty day moving average price of $11.45 and a 200-day moving average price of $11.12. The company has a market cap of $5.24 billion, a price-to-earnings ratio of 6.02 and a beta of 1.36. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.09 and a quick ratio of 1.35.
Rithm Capital (NYSE:RITM - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The real estate investment trust reported $0.60 earnings per share for the quarter, beating analysts' consensus estimates of $0.44 by $0.16. Rithm Capital had a return on equity of 18.15% and a net margin of 17.79%. As a group, equities analysts predict that Rithm Capital Corp. will post 1.93 earnings per share for the current year.
Rithm Capital Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.94%. The ex-dividend date is Monday, March 31st. Rithm Capital's dividend payout ratio (DPR) is 59.88%.
Rithm Capital Company Profile
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Free Report)
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.
See Also
Want to see what other hedge funds are holding RITM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Rithm Capital Corp. (NYSE:RITM - Free Report).
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