Geode Capital Management LLC Acquires 79,142 Shares of Rithm Capital Corp. (NYSE:RITM)

Geode Capital Management LLC grew its holdings in shares of Rithm Capital Corp. (NYSE:RITM - Free Report) by 0.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,494,199 shares of the real estate investment trust's stock after purchasing an additional 79,142 shares during the period. Geode Capital Management LLC owned approximately 1.63% of Rithm Capital worth $92,021,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Cannell & Spears LLC increased its position in shares of Rithm Capital by 4.7% during the 4th quarter. Cannell & Spears LLC now owns 127,000 shares of the real estate investment trust's stock valued at $1,375,000 after purchasing an additional 5,700 shares during the period. C M Bidwell & Associates Ltd. bought a new stake in Rithm Capital in the fourth quarter worth about $81,000. Wellington Management Group LLP lifted its holdings in Rithm Capital by 0.9% in the 4th quarter. Wellington Management Group LLP now owns 3,600,461 shares of the real estate investment trust's stock valued at $38,993,000 after acquiring an additional 32,544 shares during the last quarter. Summit Securities Group LLC boosted its position in shares of Rithm Capital by 415.6% during the 4th quarter. Summit Securities Group LLC now owns 23,200 shares of the real estate investment trust's stock valued at $251,000 after purchasing an additional 18,700 shares in the last quarter. Finally, Maridea Wealth Management LLC acquired a new position in shares of Rithm Capital in the 4th quarter worth approximately $761,000. 44.92% of the stock is currently owned by institutional investors.

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Rithm Capital Stock Up 0.9 %

Shares of RITM traded up $0.09 during trading hours on Tuesday, reaching $10.12. The company's stock had a trading volume of 1,799,907 shares, compared to its average volume of 3,812,538. The company has a 50 day moving average of $11.45 and a two-hundred day moving average of $11.12. The company has a quick ratio of 1.35, a current ratio of 1.09 and a debt-to-equity ratio of 1.74. The firm has a market cap of $5.27 billion, a price-to-earnings ratio of 6.06 and a beta of 1.36. Rithm Capital Corp. has a 1-year low of $9.13 and a 1-year high of $12.20.

Rithm Capital (NYSE:RITM - Get Free Report) last released its earnings results on Thursday, February 6th. The real estate investment trust reported $0.60 earnings per share (EPS) 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%. As a group, research analysts predict that Rithm Capital Corp. will post 1.93 EPS for the current fiscal year.

Rithm Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.00 dividend on an annualized basis and a yield of 9.88%. Rithm Capital's payout ratio is 59.88%.

Analyst Ratings Changes

A number of analysts recently weighed in on RITM shares. B. Riley upgraded shares of Rithm Capital to a "strong-buy" rating in a report on Tuesday, January 7th. Piper Sandler lifted their price target on Rithm Capital from $11.50 to $12.50 and gave the stock a "neutral" rating in a research note on Friday, February 7th. JMP Securities reiterated a "market outperform" rating and issued a $12.50 target price on shares of Rithm Capital in a report on Thursday, January 23rd. Finally, Wedbush restated an "outperform" rating and set a $14.00 price target on shares of Rithm Capital in a report on Friday, March 28th. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average 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.