Meridian Financial Partners LLC Acquires New Position in Rithm Capital Corp. (NYSE:RITM)

Meridian Financial Partners LLC purchased a new position in shares of Rithm Capital Corp. (NYSE:RITM - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 82,961 shares of the real estate investment trust's stock, valued at approximately $898,000.

A number of other large investors also recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. raised its holdings in Rithm Capital by 7.3% in 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 buying an additional 366,600 shares during the period. JPMorgan Chase & Co. increased its position in shares of 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 worth $52,301,000 after acquiring an additional 2,504,529 shares in the last quarter. Van ECK Associates Corp lifted its holdings in shares of Rithm Capital by 20.7% during the 3rd quarter. Van ECK Associates Corp now owns 2,004,057 shares of the real estate investment trust's stock valued at $21,163,000 after acquiring an additional 343,678 shares in the last quarter. Neo Ivy Capital Management purchased a new stake in Rithm Capital during the 3rd quarter worth $1,476,000. Finally, Waterfall Asset Management LLC acquired a new stake in Rithm Capital in the 2nd quarter valued at $2,209,000. Hedge funds and other institutional investors own 44.92% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently commented on RITM. Wedbush reissued an "outperform" rating and set a $14.00 price target on shares of Rithm Capital in a research report on Thursday, November 7th. B. Riley upgraded shares of Rithm Capital to a "strong-buy" rating in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods lifted their price target 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, Royal Bank of Canada reissued an "outperform" rating and issued a $13.00 price objective on shares of Rithm Capital in a research report on Thursday, November 21st. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Buy" and an average price target of $12.94.

Rithm Capital Stock Up 1.6 %

NYSE RITM traded up $0.18 during trading hours on Wednesday, reaching $11.17. 2,959,063 shares of the company traded hands, compared to its average volume of 3,880,546. The stock has a market capitalization of $5.81 billion, a PE ratio of 11.28 and a beta of 1.79. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.63. Rithm Capital Corp. has a 12 month low of $9.97 and a 12 month high of $12.02. The company has a 50 day moving average of $10.96 and a two-hundred 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 EPS for the quarter, topping the consensus estimate of $0.42 by $0.12. The business had revenue of $619.51 million for the quarter, compared to analysts' expectations of $1.11 billion. Rithm Capital had a net margin of 14.99% and a return on equity of 17.54%. During the same quarter last year, the company posted $0.58 earnings per share. As a group, equities analysts expect that Rithm Capital Corp. will post 1.93 earnings per share for the current year.

Rithm Capital Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.00 annualized dividend and a dividend yield of 8.95%. Rithm Capital's payout ratio is 101.01%.

Rithm Capital 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.