PFG Investments LLC Has $1.02 Million Holdings in Rithm Capital Corp. (NYSE:RITM)

PFG Investments LLC boosted its stake in Rithm Capital Corp. (NYSE:RITM - Free Report) by 44.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 94,335 shares of the real estate investment trust's stock after purchasing an additional 29,073 shares during the quarter. PFG Investments LLC's holdings in Rithm Capital were worth $1,022,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Squarepoint Ops LLC acquired a new stake in shares of Rithm Capital in the 2nd quarter valued at approximately $774,000. AQR Capital Management LLC raised its holdings in Rithm Capital by 4.1% in the second quarter. AQR Capital Management LLC now owns 29,848 shares of the real estate investment trust's stock worth $326,000 after purchasing an additional 1,183 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of Rithm Capital by 6.9% during the second quarter. The Manufacturers Life Insurance Company now owns 122,684 shares of the real estate investment trust's stock worth $1,338,000 after purchasing an additional 7,965 shares in the last quarter. Algert Global LLC grew its holdings in shares of Rithm Capital by 276.5% in the 2nd quarter. Algert Global LLC now owns 48,678 shares of the real estate investment trust's stock valued at $531,000 after buying an additional 35,748 shares during the period. Finally, Creative Planning grew its holdings in shares of Rithm Capital by 5.9% in the 2nd quarter. Creative Planning now owns 63,957 shares of the real estate investment trust's stock valued at $698,000 after buying an additional 3,557 shares during the period. Institutional investors and hedge funds own 44.92% of the company's stock.

Analyst Ratings Changes

Several research firms have weighed in on RITM. Royal Bank of Canada reiterated an "outperform" rating and set a $13.00 target price on shares of Rithm Capital in a report on Thursday, November 21st. Wedbush reiterated an "outperform" rating and issued a $14.00 price objective on shares of Rithm Capital in a research report on Thursday, November 7th. JMP Securities restated a "market outperform" rating and set a $12.50 target price on shares of Rithm Capital in a report on Thursday, January 23rd. Keefe, Bruyette & Woods lifted their price target on shares of Rithm Capital from $13.00 to $13.50 and gave the company an "outperform" rating in a research note on Tuesday, December 3rd. Finally, B. Riley raised 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, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $12.94.

Rithm Capital Stock Down 0.3 %

NYSE:RITM traded down $0.04 on Friday, hitting $11.53. 4,316,399 shares of the company's stock were exchanged, compared to its average volume of 3,351,483. The firm has a 50-day moving average price of $11.11 and a 200-day moving average price of $11.14. Rithm Capital Corp. has a 52 week low of $9.97 and a 52 week high of $12.02. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.35 and a quick ratio of 1.35. The company has a market cap of $5.99 billion, a P/E ratio of 11.64 and a beta of 1.79.

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, beating the consensus estimate of $0.42 by $0.12. Rithm Capital had a return on equity of 17.54% and a net margin of 14.99%. The firm had revenue of $619.51 million during the quarter, compared to analysts' expectations of $1.11 billion. During the same period in the prior year, the firm posted $0.58 earnings per share. As a group, analysts expect that Rithm Capital Corp. will post 1.95 EPS for the current fiscal year.

Rithm Capital Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, December 31st were issued a dividend of $0.25 per share. The ex-dividend date was Tuesday, December 31st. This represents a $1.00 dividend on an annualized basis and a yield of 8.68%. Rithm Capital's payout ratio is 101.01%.

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.