Rithm Capital Corp. (NYSE:RITM) Shares Bought by JPMorgan Chase & Co.

JPMorgan Chase & Co. grew its stake in Rithm Capital Corp. (NYSE:RITM - Free Report) by 119.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,608,008 shares of the real estate investment trust's stock after buying an additional 2,504,529 shares during the period. JPMorgan Chase & Co. owned 0.89% of Rithm Capital worth $52,301,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Franklin Resources Inc. raised its stake in Rithm Capital by 0.8% in the 3rd quarter. Franklin Resources Inc. now owns 1,250,401 shares of the real estate investment trust's stock worth $13,467,000 after acquiring an additional 9,859 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Rithm Capital in the third quarter worth about $43,000. Sanctuary Advisors LLC lifted its holdings in shares of Rithm Capital by 19.3% during the third quarter. Sanctuary Advisors LLC now owns 18,433 shares of the real estate investment trust's stock worth $202,000 after purchasing an additional 2,988 shares during the period. Neo Ivy Capital Management acquired a new stake in shares of Rithm Capital during the third quarter worth about $1,476,000. Finally, Geode Capital Management LLC increased its holdings 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 buying an additional 610,698 shares during the period. 44.92% of the stock is currently owned by institutional investors and hedge funds.

Rithm Capital Price Performance

Shares of RITM stock traded up $0.29 during mid-day trading on Friday, hitting $11.15. 5,192,219 shares of the stock were exchanged, compared to its average volume of 4,905,759. Rithm Capital Corp. has a 52-week low of $9.97 and a 52-week high of $12.02. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.63. The company has a market cap of $5.80 billion, a PE ratio of 11.26 and a beta of 1.79. The firm has a fifty day moving average of $10.90 and a 200 day moving average of $11.10.

Rithm Capital (NYSE:RITM - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.42 by $0.12. The company had revenue of $619.51 million for the quarter, compared to the consensus estimate of $1.11 billion. Rithm Capital had a return on equity of 17.54% and a net margin of 14.99%. During the same quarter in the prior year, the business posted $0.58 earnings per share. Research analysts anticipate that Rithm Capital Corp. will post 1.93 earnings per share for the current year.

Rithm Capital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 8.97%. The ex-dividend date of this dividend is Tuesday, December 31st. Rithm Capital's payout ratio is presently 101.01%.

Analyst Ratings Changes

Several analysts have commented on the stock. Royal Bank of Canada restated an "outperform" rating and set a $13.00 price objective on shares of Rithm Capital in a research note on Thursday, November 21st. Keefe, Bruyette & Woods boosted their target price on shares of Rithm Capital from $13.00 to $13.50 and gave the company an "outperform" rating in a research report on Tuesday, December 3rd. Finally, Wedbush reaffirmed an "outperform" rating and set a $14.00 price target on shares of Rithm Capital in a research report on Thursday, November 7th. One research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, Rithm Capital presently has a consensus rating of "Moderate Buy" and a consensus price target of $12.94.

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.