Norges Bank purchased a new stake in shares of Rithm Capital Corp. (NYSE:RITM - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 7,025,122 shares of the real estate investment trust's stock, valued at approximately $76,082,000. Norges Bank owned 1.35% of Rithm Capital as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Cerity Partners LLC increased its holdings in Rithm Capital by 2.1% during the third quarter. Cerity Partners LLC now owns 72,434 shares of the real estate investment trust's stock valued at $822,000 after buying an additional 1,508 shares during the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Rithm Capital by 1.6% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 124,699 shares of the real estate investment trust's stock worth $1,415,000 after purchasing an additional 2,015 shares in the last quarter. FMR LLC raised its holdings in Rithm Capital by 0.9% in the 3rd quarter. FMR LLC now owns 624,501 shares of the real estate investment trust's stock worth $7,088,000 after purchasing an additional 5,440 shares during the period. BNP Paribas Financial Markets lifted its position in Rithm Capital by 166.6% during the third quarter. BNP Paribas Financial Markets now owns 415,335 shares of the real estate investment trust's stock valued at $4,714,000 after purchasing an additional 259,528 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Rithm Capital by 102.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,173,045 shares of the real estate investment trust's stock valued at $13,314,000 after purchasing an additional 592,209 shares during the period. Hedge funds and other institutional investors own 44.92% of the company's stock.
Analyst Upgrades and Downgrades
Several research analysts have recently commented on the company. Wedbush reaffirmed an "outperform" rating and issued a $14.00 price objective on shares of Rithm Capital in a research note on Friday, March 28th. Piper Sandler lifted their price target on shares of Rithm Capital from $11.50 to $12.50 and gave the company a "neutral" rating in a report on Friday, February 7th. JMP Securities reissued a "market outperform" rating and issued a $12.50 price objective on shares of Rithm Capital in a research note on Thursday, January 23rd. Finally, B. Riley upgraded shares of Rithm Capital to a "strong-buy" rating in a research report on Tuesday, January 7th. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Rithm Capital presently has a consensus rating of "Buy" and an average price target of $13.25.
View Our Latest Stock Report on Rithm Capital
Rithm Capital Price Performance
RITM traded down $0.44 during trading on Monday, reaching $10.01. 10,354,303 shares of the company traded hands, compared to its average volume of 3,690,597. The company has a market cap of $5.21 billion, a P/E ratio of 6.00 and a beta of 1.36. 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 Corp. has a 12-month low of $9.63 and a 12-month high of $12.20. The firm has a fifty day simple moving average of $11.65 and a 200 day simple moving average of $11.20.
Rithm Capital (NYSE:RITM - Get Free Report) last posted its earnings results 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 net margin of 17.79% and a return on equity of 18.15%. On average, equities analysts forecast that Rithm Capital Corp. will post 1.93 EPS for the current year.
Rithm Capital Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.99%. Rithm Capital's dividend payout ratio is currently 59.88%.
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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