Raymond James Financial Inc. Buys Shares of 699,148 Rithm Capital Corp. (NYSE:RITM)

Raymond James Financial Inc. acquired a new position 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 firm acquired 699,148 shares of the real estate investment trust's stock, valued at approximately $7,572,000. Raymond James Financial Inc. owned 0.13% of Rithm Capital at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Truvestments Capital LLC purchased a new stake in Rithm Capital in the 3rd quarter worth approximately $43,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Rithm Capital during the third quarter worth $43,000. Householder Group Estate & Retirement Specialist LLC boosted its position in Rithm Capital by 86.7% during the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 4,439 shares of the real estate investment trust's stock valued at $48,000 after purchasing an additional 2,062 shares during the last quarter. FNY Investment Advisers LLC grew its stake in shares of Rithm Capital by 8,600.0% in the 4th quarter. FNY Investment Advisers LLC now owns 8,700 shares of the real estate investment trust's stock valued at $94,000 after buying an additional 8,600 shares in the last quarter. Finally, Periscope Capital Inc. bought a new position in shares of Rithm Capital during the 3rd quarter valued at $114,000. Hedge funds and other institutional investors own 44.92% of the company's stock.

Analysts Set New Price Targets

RITM has been the subject of several recent analyst reports. B. Riley raised shares of Rithm Capital to a "strong-buy" rating in a report on Tuesday, January 7th. JMP Securities restated a "market outperform" rating and set a $12.50 price target on shares of Rithm Capital in a research note on Thursday, January 23rd. Piper Sandler raised their price objective on Rithm Capital from $11.50 to $12.50 and gave the stock a "neutral" rating in a research report on Friday, February 7th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Rithm Capital from $13.00 to $13.50 and gave the company an "outperform" rating in a report on Tuesday, December 3rd. One 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 data from MarketBeat, the company currently has an average rating of "Buy" and an average price target of $13.25.

Rithm Capital Price Performance

Rithm Capital stock traded down $0.01 during trading hours on Wednesday, hitting $11.68. 4,062,862 shares of the stock were exchanged, compared to its average volume of 3,448,749. The business's 50-day moving average is $11.67 and its two-hundred day moving average is $11.23. 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 $10.38 and a 12 month high of $12.20. The stock has a market capitalization of $6.08 billion, a P/E ratio of 6.99 and a beta of 1.83.

Rithm Capital (NYSE:RITM - Get Free Report) last issued its quarterly earnings data on Thursday, February 6th. The real estate investment trust reported $0.60 EPS for the quarter, topping analysts' consensus estimates of $0.44 by $0.16. Rithm Capital had a net margin of 17.79% and a return on equity of 18.15%. Equities research analysts expect that Rithm Capital Corp. will post 1.93 EPS for the current fiscal year.

Rithm Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 8.57%. The ex-dividend date is Monday, March 31st. Rithm Capital's dividend payout ratio is 59.88%.

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.