Magnetar Financial LLC Purchases 23,901 Shares of Rithm Capital Corp. (NYSE:RITM)

Magnetar Financial LLC lifted its position in Rithm Capital Corp. (NYSE:RITM - Free Report) by 69.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 58,107 shares of the real estate investment trust's stock after buying an additional 23,901 shares during the period. Magnetar Financial LLC's holdings in Rithm Capital were worth $629,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in RITM. Truvestments Capital LLC acquired a new position in shares of Rithm Capital in the third quarter valued at approximately $43,000. Wilmington Savings Fund Society FSB bought a new stake in Rithm Capital in the 3rd quarter valued at $43,000. Householder Group Estate & Retirement Specialist LLC boosted its stake in Rithm Capital by 86.7% in the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 4,439 shares of the real estate investment trust's stock worth $48,000 after purchasing an additional 2,062 shares during the period. FNY Investment Advisers LLC increased its holdings in Rithm Capital by 8,600.0% during the 4th quarter. FNY Investment Advisers LLC now owns 8,700 shares of the real estate investment trust's stock worth $94,000 after purchasing an additional 8,600 shares in the last quarter. Finally, Periscope Capital Inc. acquired a new stake in shares of Rithm Capital in the 3rd quarter valued at about $114,000. Institutional investors and hedge funds own 44.92% of the company's stock.

Rithm Capital Stock Down 0.0 %

Shares of NYSE:RITM traded down $0.01 during midday trading on Wednesday, hitting $11.68. The stock had a trading volume of 4,063,267 shares, compared to its average volume of 3,448,750. 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 50-day simple moving average is $11.67 and its 200-day simple moving average is $11.23. Rithm Capital Corp. has a 12 month low of $10.38 and a 12 month high of $12.20. The company has a market cap of $6.08 billion, a P/E ratio of 6.99 and a beta of 1.83.

Remove Ads

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 EPS for the quarter, beating 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%. On average, sell-side analysts forecast that Rithm Capital Corp. will post 1.93 earnings per share for the current fiscal year.

Rithm Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.00 annualized dividend and a yield of 8.57%. Rithm Capital's dividend payout ratio is 59.88%.

Analyst Upgrades and Downgrades

RITM has been the subject of a number of research reports. Piper Sandler increased their price objective on Rithm Capital from $11.50 to $12.50 and gave the stock a "neutral" rating in a report on Friday, February 7th. B. Riley raised shares of Rithm Capital to a "strong-buy" rating in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods boosted their price objective on shares of Rithm Capital from $13.00 to $13.50 and gave the stock an "outperform" rating in a research report on Tuesday, December 3rd. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $12.50 target price on shares of Rithm Capital in a research report on Thursday, January 23rd. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Buy" and a consensus price target 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.