Arrowstreet Capital Limited Partnership Sells 2,315,553 Shares of Rithm Capital Corp. (NYSE:RITM)

Arrowstreet Capital Limited Partnership reduced its position in Rithm Capital Corp. (NYSE:RITM - Free Report) by 78.0% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 653,278 shares of the real estate investment trust's stock after selling 2,315,553 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 0.13% of Rithm Capital worth $7,075,000 as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB purchased a new position in shares of Rithm Capital in the 3rd quarter valued at about $43,000. Householder Group Estate & Retirement Specialist LLC lifted its holdings in Rithm Capital by 86.7% in the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 4,439 shares of the real estate investment trust's stock valued at $48,000 after purchasing an additional 2,062 shares in the last quarter. FNY Investment Advisers LLC boosted its position in Rithm Capital by 8,600.0% during the fourth quarter. FNY Investment Advisers LLC now owns 8,700 shares of the real estate investment trust's stock worth $94,000 after acquiring an additional 8,600 shares during the last quarter. Whittier Trust Co. boosted its holdings in shares of Rithm Capital by 1,860.7% during the fourth quarter. Whittier Trust Co. now owns 10,274 shares of the real estate investment trust's stock worth $111,000 after purchasing an additional 9,750 shares during the last quarter. Finally, Perigon Wealth Management LLC purchased a new stake in Rithm Capital in the 4th quarter valued at about $120,000. 44.92% of the stock is owned by hedge funds and other institutional investors.

Rithm Capital Stock Performance

NYSE:RITM traded up $0.17 during mid-day trading on Friday, hitting $9.74. The stock had a trading volume of 7,816,090 shares, compared to its average volume of 3,805,929. Rithm Capital Corp. has a 52 week low of $9.13 and a 52 week high of $12.20. The company has a current ratio of 1.09, a quick ratio of 1.35 and a debt-to-equity ratio of 1.74. The stock has a market capitalization of $5.07 billion, a price-to-earnings ratio of 5.83 and a beta of 1.36. The company has a 50 day simple moving average of $11.51 and a 200-day simple moving average of $11.14.

Rithm Capital (NYSE:RITM - Get Free Report) last issued 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 net margin of 17.79% and a return on equity of 18.15%. On average, research analysts expect that Rithm Capital Corp. will post 1.93 earnings per share for the current fiscal year.

Rithm Capital Announces Dividend

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. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.00 annualized dividend and a yield of 10.26%. Rithm Capital's dividend payout ratio is currently 59.88%.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on RITM. Wedbush reissued an "outperform" rating and set a $14.00 price objective on shares of Rithm Capital in a research note on Friday, March 28th. Piper Sandler raised their target price on Rithm Capital from $11.50 to $12.50 and gave the company a "neutral" rating in a research note on Friday, February 7th. B. Riley upgraded shares of Rithm Capital to a "strong-buy" rating in a research note on Tuesday, January 7th. Finally, JMP Securities restated a "market outperform" rating and set a $12.50 price objective on shares of Rithm Capital in a research note on Thursday, January 23rd. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $13.25.

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.