Edgestream Partners L.P. Cuts Holdings in Rithm Capital Corp. (NYSE:RITM)

Edgestream Partners L.P. trimmed its stake in shares of Rithm Capital Corp. (NYSE:RITM - Free Report) by 25.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 156,016 shares of the real estate investment trust's stock after selling 51,947 shares during the quarter. Edgestream Partners L.P.'s holdings in Rithm Capital were worth $1,690,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in RITM. Raymond James Financial Inc. acquired a new position in shares of Rithm Capital in the 4th quarter worth approximately $7,572,000. Arizona State Retirement System lifted its holdings in Rithm Capital by 8.3% in the fourth quarter. Arizona State Retirement System now owns 150,834 shares of the real estate investment trust's stock valued at $1,634,000 after buying an additional 11,620 shares during the period. Aigen Investment Management LP acquired a new stake in Rithm Capital during the 4th quarter worth about $271,000. Proficio Capital Partners LLC bought a new position in shares of Rithm Capital in the 4th quarter worth about $176,000. Finally, Victory Capital Management Inc. raised its position in shares of Rithm Capital by 19.5% in the 4th quarter. Victory Capital Management Inc. now owns 238,188 shares of the real estate investment trust's stock worth $2,580,000 after acquiring an additional 38,855 shares in the last quarter. 44.92% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

RITM has been the topic of several research analyst reports. Royal Bank of Canada restated an "outperform" rating and set a $13.00 target price on shares of Rithm Capital in a research report on Thursday, November 21st. Keefe, Bruyette & Woods raised 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. Piper Sandler boosted their target price on shares of 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 upgraded shares of Rithm Capital to a "strong-buy" rating in a report on Tuesday, January 7th. Finally, JMP Securities reiterated a "market outperform" rating and set a $12.50 price objective on shares of Rithm Capital in a report on Thursday, January 23rd. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, Rithm Capital currently has an average rating of "Buy" and an average target price of $13.25.

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Rithm Capital Stock Down 0.7 %

NYSE RITM traded down $0.08 during mid-day trading on Wednesday, hitting $11.45. The company's stock had a trading volume of 1,872,387 shares, compared to its average volume of 3,409,735. The firm has a market capitalization of $5.96 billion, a price-to-earnings ratio of 6.86 and a beta of 1.83. The company's 50 day simple moving average is $11.52 and its 200 day simple moving average is $11.23. The company has a current ratio of 1.09, a quick ratio of 1.35 and a debt-to-equity ratio of 1.74. Rithm Capital Corp. has a twelve month low of $10.38 and a twelve month high of $12.20.

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 (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 18.15%. Analysts anticipate that Rithm Capital Corp. will post 1.93 earnings per share for the current year.

Rithm Capital Dividend Announcement

The business 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 was Tuesday, December 31st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.73%. Rithm Capital's dividend payout ratio is presently 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.