Illinois Municipal Retirement Fund Purchases 57,567 Shares of Rithm Capital Corp. (NYSE:RITM)

Illinois Municipal Retirement Fund lifted its position in shares of Rithm Capital Corp. (NYSE:RITM - Free Report) by 25.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 287,716 shares of the real estate investment trust's stock after buying an additional 57,567 shares during the quarter. Illinois Municipal Retirement Fund owned approximately 0.06% of Rithm Capital worth $3,116,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Geode Capital Management LLC grew its stake in Rithm Capital by 7.8% in the 3rd 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 period. Charles Schwab Investment Management Inc. grew its position in shares of 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 during the period. JPMorgan Chase & Co. increased 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 valued at $52,301,000 after purchasing an additional 2,504,529 shares during the last quarter. Azora Capital LP increased its stake in shares of Rithm Capital by 107.6% during the 3rd quarter. Azora Capital LP now owns 4,383,821 shares of the real estate investment trust's stock valued at $49,756,000 after acquiring an additional 2,271,671 shares during the last quarter. Finally, Wellington Management Group LLP lifted its holdings 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 worth $40,496,000 after acquiring an additional 978,954 shares during the period. Institutional investors and hedge funds own 44.92% of the company's stock.

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Rithm Capital Stock Performance

Shares of NYSE:RITM traded down $0.22 during trading on Monday, hitting $11.93. 6,724,655 shares of the company traded hands, compared to its average volume of 3,833,399. Rithm Capital Corp. has a one year low of $10.38 and a one year high of $12.20. The stock has a market capitalization of $6.21 billion, a price-to-earnings ratio of 7.14 and a beta of 1.79. 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 business's fifty day moving average is $11.42 and its 200-day moving average is $11.22.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.44 by $0.16. Rithm Capital had a return on equity of 18.15% and a net margin of 17.79%. As a group, equities analysts predict that Rithm Capital Corp. will post 1.93 earnings per share for the current fiscal year.

Rithm Capital Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 8.38%. The ex-dividend date of this dividend was Tuesday, December 31st. Rithm Capital's dividend payout ratio (DPR) is presently 59.88%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on RITM shares. 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 report on Friday, February 7th. B. Riley upgraded Rithm Capital to a "strong-buy" rating in a report on Tuesday, January 7th. Keefe, Bruyette & Woods boosted their price target on Rithm Capital from $13.00 to $13.50 and gave the company an "outperform" rating in a research report on Tuesday, December 3rd. Royal Bank of Canada reiterated an "outperform" rating and set a $13.00 price objective on shares of Rithm Capital in a research note on Thursday, November 21st. Finally, JMP Securities restated a "market outperform" rating and issued a $12.50 price target on shares of Rithm Capital in a report on Thursday, January 23rd. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target 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.