Lewis Asset Management LLC cut its position in Rithm Capital Corp. (NYSE:RITM - Free Report) by 9.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 228,906 shares of the real estate investment trust's stock after selling 24,837 shares during the quarter. Rithm Capital comprises 1.9% of Lewis Asset Management LLC's holdings, making the stock its 10th biggest position. Lewis Asset Management LLC's holdings in Rithm Capital were worth $2,479,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Geode Capital Management LLC raised its position in shares of 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 worth $95,537,000 after buying an additional 610,698 shares in the last quarter. Charles Schwab Investment Management Inc. lifted 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 valued at $60,892,000 after purchasing an additional 366,600 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Rithm Capital by 119.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,608,008 shares of the real estate investment trust's stock worth $52,301,000 after acquiring an additional 2,504,529 shares in the last quarter. Azora Capital LP boosted its holdings in shares of Rithm Capital by 107.6% in the third quarter. Azora Capital LP now owns 4,383,821 shares of the real estate investment trust's stock worth $49,756,000 after buying an additional 2,271,671 shares during the period. Finally, Wellington Management Group LLP boosted its position in shares of Rithm Capital by 37.8% in the third quarter. Wellington Management Group LLP now owns 3,567,917 shares of the real estate investment trust's stock worth $40,496,000 after buying an additional 978,954 shares during the period. Institutional investors own 44.92% of the company's stock.
Analysts Set New Price Targets
RITM has been the topic of several research analyst reports. B. Riley upgraded shares of Rithm Capital to a "strong-buy" rating in a report on Tuesday, January 7th. Keefe, Bruyette & Woods upped their price target on Rithm Capital from $13.00 to $13.50 and gave the stock an "outperform" rating in a research note on Tuesday, December 3rd. JMP Securities reissued a "market outperform" rating and set a $12.50 target price on shares of Rithm Capital in a research report on Thursday, January 23rd. Wedbush reiterated an "outperform" rating and issued a $14.00 price objective on shares of Rithm Capital in a research note on Thursday, November 7th. Finally, Royal Bank of Canada restated an "outperform" rating and set a $13.00 target price on shares of Rithm Capital in a research note on Thursday, November 21st. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Buy" and an average target price of $12.94.
Get Our Latest Report on RITM
Rithm Capital Price Performance
Shares of RITM traded down $0.17 on Monday, hitting $11.35. The company's stock had a trading volume of 2,699,577 shares, compared to its average volume of 3,725,900. Rithm Capital Corp. has a fifty-two week low of $9.97 and a fifty-two week high of $12.02. The company has a market capitalization of $5.90 billion, a PE ratio of 11.47 and a beta of 1.79. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.35 and a quick ratio of 1.35. The company has a 50 day moving average price of $11.11 and a 200 day moving average price of $11.14.
Rithm Capital Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st were paid a $0.25 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $1.00 annualized dividend and a dividend yield of 8.81%. Rithm Capital's dividend payout ratio (DPR) is currently 101.01%.
About Rithm Capital
(
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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