Concurrent Investment Advisors LLC Purchases 24,039 Shares of Rithm Capital Corp. (NYSE:RITM)

Concurrent Investment Advisors LLC grew its holdings in Rithm Capital Corp. (NYSE:RITM - Free Report) by 28.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 108,684 shares of the real estate investment trust's stock after purchasing an additional 24,039 shares during the period. Concurrent Investment Advisors LLC's holdings in Rithm Capital were worth $1,177,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in RITM. Geode Capital Management LLC boosted its stake in Rithm Capital by 7.8% during the third quarter. Geode Capital Management LLC now owns 8,415,057 shares of the real estate investment trust's stock valued at $95,537,000 after buying an additional 610,698 shares during the period. Charles Schwab Investment Management Inc. raised 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 valued at $60,892,000 after purchasing an additional 366,600 shares in the last quarter. JPMorgan Chase & Co. grew its stake in Rithm Capital by 119.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,608,008 shares of the real estate investment trust's stock worth $52,301,000 after buying an additional 2,504,529 shares in the last quarter. Azora Capital LP increased its holdings in shares of Rithm Capital by 107.6% in the 3rd quarter. Azora Capital LP now owns 4,383,821 shares of the real estate investment trust's stock worth $49,756,000 after buying an additional 2,271,671 shares during the last quarter. Finally, Wellington Management Group LLP raised its position in shares of Rithm Capital by 37.8% during the 3rd quarter. Wellington Management Group LLP now owns 3,567,917 shares of the real estate investment trust's stock valued at $40,496,000 after buying an additional 978,954 shares in the last quarter. Hedge funds and other institutional investors own 44.92% of the company's stock.

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Rithm Capital Stock Up 0.7 %

Rithm Capital stock traded up $0.09 during mid-day trading on Wednesday, hitting $12.03. The company had a trading volume of 3,064,680 shares, compared to its average volume of 3,702,125. Rithm Capital Corp. has a 12 month low of $10.38 and a 12 month high of $12.10. 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's 50 day moving average price is $11.34 and its two-hundred day moving average price is $11.20. The company has a market capitalization of $6.26 billion, a PE ratio of 7.20 and a beta of 1.79.

Rithm Capital (NYSE:RITM - Get Free Report) last issued its earnings results on Thursday, February 6th. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate 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 anticipate 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. Stockholders of record on Tuesday, December 31st were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 8.32%. The ex-dividend date of this dividend was Tuesday, December 31st. Rithm Capital's dividend payout ratio is currently 59.88%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on RITM. B. Riley upgraded Rithm Capital to a "strong-buy" rating in a research report on Tuesday, January 7th. Wedbush reaffirmed an "outperform" rating and issued a $14.00 target price on shares of Rithm Capital in a research note on Thursday, November 7th. Keefe, Bruyette & Woods lifted their price target on shares of Rithm Capital from $13.00 to $13.50 and gave the stock an "outperform" rating in a research note on Tuesday, December 3rd. Piper Sandler upped their price objective on shares of Rithm Capital from $11.50 to $12.50 and gave the company a "neutral" rating in a research note on Friday, February 7th. Finally, JMP Securities reissued a "market outperform" rating and issued a $12.50 price target on shares of Rithm Capital in a research note on Thursday, January 23rd. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Rithm Capital presently has an average rating of "Buy" and a consensus target price of $13.07.

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.