O Shaughnessy Asset Management LLC cut its stake in shares of Rithm Capital Corp. (NYSE:RITM - Free Report) by 28.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 97,897 shares of the real estate investment trust's stock after selling 38,084 shares during the quarter. O Shaughnessy Asset Management LLC's holdings in Rithm Capital were worth $1,060,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Rithm Capital by 0.4% in the 4th quarter. Vanguard Group Inc. now owns 49,008,422 shares of the real estate investment trust's stock worth $530,761,000 after buying an additional 184,802 shares during the last quarter. 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 bought a new stake in Rithm Capital during the fourth quarter valued at about $76,082,000. JPMorgan Chase & Co. raised its stake in 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 during the period. Finally, Wellington Management Group LLP lifted its stake in shares of Rithm Capital by 37.8% during the 3rd quarter. Wellington Management Group LLP now owns 3,567,917 shares of the real estate investment trust's stock valued at $40,496,000 after buying an additional 978,954 shares in the last quarter. Hedge funds and other institutional investors own 44.92% of the company's stock.
Wall Street Analyst Weigh In
RITM has been the topic of several research reports. Wedbush restated an "outperform" rating and issued a $14.00 price target on shares of Rithm Capital in a research report on Friday, March 28th. B. Riley raised shares of Rithm Capital to a "strong-buy" rating in a research report on Tuesday, January 7th. Piper Sandler increased their price target on shares of Rithm Capital from $11.50 to $12.50 and gave the stock a "neutral" rating in a report on Friday, February 7th. Finally, JMP Securities reiterated 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 equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus price target of $13.25.
View Our Latest Report on RITM
Rithm Capital Stock Performance
Shares of NYSE:RITM traded up $0.17 on Friday, reaching $9.74. The company's stock had a trading volume of 7,816,090 shares, compared to its average volume of 3,805,931. The stock has a market capitalization of $5.07 billion, a P/E ratio of 5.83 and a beta of 1.36. Rithm Capital Corp. has a 52-week low of $9.13 and a 52-week high of $12.20. The stock's 50-day moving average is $11.48 and its two-hundred day moving average is $11.13. 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 (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 return on equity of 18.15% and a net margin of 17.79%. As a group, sell-side analysts forecast that Rithm Capital Corp. will post 1.93 EPS for the current year.
Rithm Capital Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 10.26%. The ex-dividend date of this dividend is Monday, March 31st. Rithm Capital's dividend payout ratio (DPR) is presently 59.88%.
Rithm Capital Profile
(
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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