BostonPremier Wealth LLC Acquires Shares of 36,400 Rithm Capital Corp. (NYSE:RITM)

BostonPremier Wealth LLC acquired a new stake in Rithm Capital Corp. (NYSE:RITM - Free Report) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 36,400 shares of the real estate investment trust's stock, valued at approximately $394,000.

Other institutional investors have also recently made changes to their positions in the company. Geode Capital Management LLC lifted its stake in Rithm Capital by 7.8% in the third quarter. Geode Capital Management LLC now owns 8,415,057 shares of the real estate investment trust's stock worth $95,537,000 after acquiring an additional 610,698 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Rithm Capital by 7.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,364,962 shares of the real estate investment trust's stock worth $60,892,000 after acquiring an additional 366,600 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Rithm Capital by 119.1% in the third quarter. JPMorgan Chase & Co. now owns 4,608,008 shares of the real estate investment trust's stock worth $52,301,000 after acquiring an additional 2,504,529 shares during the last quarter. Azora Capital LP lifted its stake in Rithm Capital by 107.6% in the third quarter. Azora Capital LP now owns 4,383,821 shares of the real estate investment trust's stock worth $49,756,000 after acquiring an additional 2,271,671 shares during the last quarter. Finally, Wellington Management Group LLP lifted its stake in Rithm Capital by 37.8% in the third quarter. Wellington Management Group LLP now owns 3,567,917 shares of the real estate investment trust's stock worth $40,496,000 after acquiring an additional 978,954 shares during the last quarter. Institutional investors and hedge funds own 44.92% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on RITM. Piper Sandler lifted their price target 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. Keefe, Bruyette & Woods boosted their price objective on shares of Rithm Capital from $13.00 to $13.50 and gave the stock an "outperform" rating in a research report on Tuesday, December 3rd. Wedbush restated an "outperform" rating and set a $14.00 price objective on shares of Rithm Capital in a research report on Thursday, November 7th. Royal Bank of Canada restated an "outperform" rating and set a $13.00 price objective on shares of Rithm Capital in a research report on Thursday, November 21st. Finally, JMP Securities restated a "market outperform" rating and set a $12.50 price objective on shares of Rithm Capital in a research report on Thursday, January 23rd. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $12.94.

Rithm Capital Stock Performance

Shares of Rithm Capital stock traded up $0.04 during trading on Friday, reaching $12.03. The company's stock had a trading volume of 2,741,763 shares, compared to its average volume of 3,710,102. The company has a 50-day moving average price of $11.23 and a two-hundred day moving average price of $11.16. The firm has a market cap of $6.25 billion, a PE ratio of 7.20 and a beta of 1.79. Rithm Capital Corp. has a fifty-two week low of $10.36 and a fifty-two week high of $12.10. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.63.

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 net margin of 17.79% and a return on equity of 18.46%. On average, analysts forecast that Rithm Capital Corp. will post 1.92 EPS for the current year.

Rithm Capital Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st were issued a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.32%. Rithm Capital's payout ratio is 59.88%.

Rithm Capital 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.