Maridea Wealth Management LLC acquired a new stake in Rithm Capital Corp. (NYSE:RITM - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 70,248 shares of the real estate investment trust's stock, valued at approximately $761,000.
A number of other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. grew its position in Rithm Capital by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 49,008,422 shares of the real estate investment trust's stock valued at $530,761,000 after buying an additional 184,802 shares during the period. Geode Capital Management LLC grew 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 valued at $95,537,000 after acquiring an additional 610,698 shares during the period. Norges Bank purchased a new position in shares of Rithm Capital in the 4th quarter valued at about $76,082,000. Charles Schwab Investment Management Inc. raised its holdings in Rithm Capital by 7.3% in the 3rd 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 purchasing an additional 366,600 shares during the period. Finally, JPMorgan Chase & Co. boosted its position in Rithm Capital by 119.1% during the third quarter. JPMorgan Chase & Co. now owns 4,608,008 shares of the real estate investment trust's stock worth $52,301,000 after purchasing an additional 2,504,529 shares in the last quarter. Hedge funds and other institutional investors own 44.92% of the company's stock.
Rithm Capital Price Performance
RITM traded down $0.02 on Tuesday, reaching $11.44. 4,908,044 shares of the company's stock were exchanged, compared to its average volume of 3,585,411. The stock has a market cap of $5.95 billion, a PE ratio of 6.85 and a beta of 1.83. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.09 and a quick ratio of 1.35. Rithm Capital Corp. has a twelve month low of $10.38 and a twelve month high of $12.20. The stock's fifty day moving average price is $11.69 and its 200-day moving average price is $11.23.
Rithm Capital (NYSE:RITM - Get Free Report) last posted 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%. Sell-side analysts expect that Rithm Capital Corp. will post 1.93 EPS for the current year.
Rithm Capital Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.00 annualized dividend and a dividend yield of 8.75%. Rithm Capital's dividend payout ratio is presently 59.88%.
Wall Street Analysts Forecast Growth
A number of analysts have recently commented on RITM shares. Piper Sandler boosted their price objective on Rithm Capital from $11.50 to $12.50 and gave the company a "neutral" rating in a research report on Friday, February 7th. B. Riley raised shares of Rithm Capital to a "strong-buy" rating in a report on Tuesday, January 7th. Wedbush reiterated an "outperform" rating and issued a $14.00 target price on shares of Rithm Capital in a research report on Friday. Keefe, Bruyette & Woods boosted their target price on shares of Rithm Capital from $13.00 to $13.50 and gave the stock an "outperform" rating in a research note on Tuesday, December 3rd. Finally, JMP Securities reaffirmed a "market outperform" rating and issued a $12.50 price target on shares of Rithm Capital in a research note on Thursday, January 23rd. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $13.25.
Check Out Our Latest Report on Rithm Capital
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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