Allworth Financial LP Raises Holdings in Rithm Capital Corp. (NYSE:RITM)

Allworth Financial LP raised its stake in shares of Rithm Capital Corp. (NYSE:RITM - Free Report) by 1,437.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 133,688 shares of the real estate investment trust's stock after acquiring an additional 124,993 shares during the period. Allworth Financial LP's holdings in Rithm Capital were worth $1,505,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RITM. Creative Planning raised its stake in Rithm Capital by 20.6% during the 3rd quarter. Creative Planning now owns 77,109 shares of the real estate investment trust's stock valued at $875,000 after acquiring an additional 13,152 shares during the last quarter. Calton & Associates Inc. acquired a new position in Rithm Capital during the 3rd quarter worth approximately $763,000. International Assets Investment Management LLC increased its position in Rithm Capital by 895.6% during the 3rd quarter. International Assets Investment Management LLC now owns 167,617 shares of the real estate investment trust's stock worth $1,902,000 after purchasing an additional 150,782 shares during the period. Highland Capital Management LLC increased its position in Rithm Capital by 10.2% during the 3rd quarter. Highland Capital Management LLC now owns 54,125 shares of the real estate investment trust's stock worth $614,000 after purchasing an additional 5,000 shares during the period. Finally, PFG Investments LLC increased its position in Rithm Capital by 2.9% during the 3rd quarter. PFG Investments LLC now owns 65,262 shares of the real estate investment trust's stock worth $741,000 after purchasing an additional 1,825 shares during the period. 44.92% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

RITM has been the topic of several recent analyst reports. JMP Securities reiterated a "market outperform" rating and set a $12.50 target price on shares of Rithm Capital in a research report on Thursday, January 23rd. Piper Sandler boosted their target price on Rithm Capital from $11.50 to $12.50 and gave the stock a "neutral" rating in a research report on Friday, February 7th. Wedbush reiterated an "outperform" rating and set a $14.00 target price on shares of Rithm Capital in a research report on Thursday, November 7th. Keefe, Bruyette & Woods boosted their target price on Rithm Capital from $13.00 to $13.50 and gave the stock an "outperform" rating in a research report on Tuesday, December 3rd. Finally, Royal Bank of Canada restated an "outperform" rating and issued a $13.00 price target on shares of Rithm Capital in a report on Thursday, November 21st. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Rithm Capital has an average rating of "Buy" and a consensus target price of $12.94.

Rithm Capital Price Performance

NYSE:RITM traded down $0.10 during trading hours on Friday, reaching $11.89. 3,649,394 shares of the company traded hands, compared to its average volume of 3,742,676. The firm's 50-day moving average is $11.29 and its 200-day moving average is $11.18. The stock has a market cap of $6.19 billion, a P/E ratio of 7.12 and a beta of 1.79. 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 Corp. has a 1-year low of $10.38 and a 1-year high of $12.10.

Rithm Capital (NYSE:RITM - Get Free Report) last announced its earnings results on Thursday, February 6th. The real estate investment trust reported $0.60 EPS 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%. Equities research analysts expect that Rithm Capital Corp. will post 1.93 earnings per share for the current fiscal year.

Rithm Capital Dividend Announcement

The firm also recently declared 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. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.41%. The ex-dividend date was Tuesday, December 31st. Rithm Capital's dividend payout ratio is presently 59.88%.

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.