KLP Kapitalforvaltning AS bought a new position in shares of Rithm Capital Corp. (NYSE:RITM - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 107,100 shares of the real estate investment trust's stock, valued at approximately $1,183,000.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Geode Capital Management LLC increased its position in Rithm Capital by 7.8% during the 3rd quarter. Geode Capital Management LLC now owns 8,415,057 shares of the real estate investment trust's stock valued at $95,537,000 after purchasing an additional 610,698 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Rithm Capital by 7.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,364,962 shares of the real estate investment trust's stock worth $60,892,000 after buying an additional 366,600 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings 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 buying an additional 2,504,529 shares during the period. Azora Capital LP raised its position in shares of Rithm Capital by 107.6% in the 3rd quarter. Azora Capital LP now owns 4,383,821 shares of the real estate investment trust's stock worth $49,756,000 after acquiring an additional 2,271,671 shares in the last quarter. Finally, Wellington Management Group LLP lifted its stake in shares of Rithm Capital by 37.8% in the 3rd quarter. Wellington Management Group LLP now owns 3,567,917 shares of the real estate investment trust's stock valued at $40,496,000 after purchasing an additional 978,954 shares during the period. 44.92% of the stock is owned by institutional investors and hedge funds.
Rithm Capital Stock Performance
RITM traded down $0.29 during midday trading on Thursday, reaching $11.26. The company had a trading volume of 5,327,016 shares, compared to its average volume of 3,606,397. Rithm Capital Corp. has a 12-month low of $10.38 and a 12-month high of $12.20. The business has a 50-day moving average price of $11.70 and a two-hundred day moving average price of $11.23. The stock has a market cap of $5.86 billion, a PE ratio of 6.74 and a beta of 1.83. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.35 and a current ratio of 1.09.
Rithm Capital (NYSE:RITM - Get Free Report) last announced its quarterly earnings data on Thursday, February 6th. The real estate investment trust reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.16. Rithm Capital had a return on equity of 18.15% and a net margin of 17.79%. On average, sell-side analysts expect that Rithm Capital Corp. will post 1.93 earnings per share for the current fiscal year.
Rithm Capital Announces Dividend
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 paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 8.88%. The ex-dividend date of this dividend is Monday, March 31st. Rithm Capital's dividend payout ratio is currently 59.88%.
Wall Street Analysts Forecast Growth
A number of brokerages have recently weighed in on RITM. Piper Sandler upped their target price on Rithm Capital from $11.50 to $12.50 and gave the stock a "neutral" rating in a research report on Friday, February 7th. Wedbush reaffirmed an "outperform" rating and issued a $14.00 price target on shares of Rithm Capital in a research report on Friday, March 28th. JMP Securities reiterated a "market outperform" rating and set a $12.50 price target on shares of Rithm Capital in a research note on Thursday, January 23rd. Finally, B. Riley raised Rithm Capital to a "strong-buy" rating in a research note on Tuesday, January 7th. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, Rithm Capital currently has an average rating of "Buy" and an average target price of $13.25.
Get Our Latest Research Report on Rithm Capital
Rithm Capital Company Profile
(
Free Report)
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.
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