Cruiser Capital Advisors LLC Acquires 77,600 Shares of Rithm Capital Corp. (NYSE:RITM)

Cruiser Capital Advisors LLC lifted its stake in shares of Rithm Capital Corp. (NYSE:RITM - Free Report) by 204.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 115,600 shares of the real estate investment trust's stock after purchasing an additional 77,600 shares during the quarter. Rithm Capital comprises 0.7% of Cruiser Capital Advisors LLC's investment portfolio, making the stock its 18th biggest holding. Cruiser Capital Advisors LLC's holdings in Rithm Capital were worth $1,252,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Jackson Thornton Wealth Management LLC acquired a new stake in Rithm Capital in the fourth quarter valued at approximately $287,000. Vanguard Group Inc. grew its position in Rithm Capital by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 49,008,422 shares of the real estate investment trust's stock valued at $530,761,000 after purchasing an additional 184,802 shares during the period. Samalin Investment Counsel LLC increased its stake in Rithm Capital by 18.8% during the 4th quarter. Samalin Investment Counsel LLC now owns 17,557 shares of the real estate investment trust's stock valued at $190,000 after purchasing an additional 2,774 shares in the last quarter. Simplify Asset Management Inc. lifted its stake in shares of Rithm Capital by 30.4% in the fourth quarter. Simplify Asset Management Inc. now owns 175,780 shares of the real estate investment trust's stock valued at $1,904,000 after buying an additional 40,980 shares in the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of Rithm Capital during the fourth quarter valued at about $1,183,000. 44.92% of the stock is owned by institutional investors.

Analysts Set New Price Targets

RITM has been the topic of a number of analyst reports. JMP Securities restated a "market outperform" rating and issued a $12.50 target price on shares of Rithm Capital in a report on Thursday, January 23rd. Wedbush reaffirmed an "outperform" rating and set a $14.00 target price on shares of Rithm Capital in a research report on Friday. Piper Sandler increased their price target on Rithm Capital from $11.50 to $12.50 and gave the company a "neutral" rating in a research report on Friday, February 7th. B. Riley raised shares of Rithm Capital to a "strong-buy" rating in a report on Tuesday, January 7th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Rithm Capital from $13.00 to $13.50 and gave the company an "outperform" rating in a report on Tuesday, December 3rd. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Rithm Capital has an average rating of "Buy" and an average target price of $13.25.

Rithm Capital Stock Performance

RITM stock traded down $0.25 during midday trading on Friday, hitting $11.39. The company's stock had a trading volume of 5,061,370 shares, compared to its average volume of 3,565,940. Rithm Capital Corp. has a 1 year low of $10.38 and a 1 year high of $12.20. The stock has a market cap of $5.93 billion, a price-to-earnings ratio of 6.82 and a beta of 1.83. The stock's 50-day moving average price is $11.69 and its 200 day moving average price is $11.23. The company has a quick ratio of 1.35, a current ratio of 1.09 and a debt-to-equity ratio of 1.74.

Rithm Capital (NYSE:RITM - Get Free Report) last issued its quarterly earnings results on Thursday, February 6th. The real estate investment trust reported $0.60 earnings per share for the quarter, topping 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, equities analysts forecast that Rithm Capital Corp. will post 1.93 EPS for the current year.

Rithm Capital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders 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 dividend yield of 8.78%. Rithm Capital's payout ratio is currently 59.88%.

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.