EMC Capital Management Increases Stock Position in Rithm Capital Corp. (NYSE:RITM)

EMC Capital Management boosted its position in Rithm Capital Corp. (NYSE:RITM - Free Report) by 1,349.0% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 35,371 shares of the real estate investment trust's stock after purchasing an additional 32,930 shares during the period. EMC Capital Management's holdings in Rithm Capital were worth $383,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RITM. JPMorgan Chase & Co. grew its holdings 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 valued at $52,301,000 after acquiring an additional 2,504,529 shares in the last quarter. Azora Capital LP grew its stake in Rithm Capital by 107.6% in the 3rd quarter. Azora Capital LP now owns 4,383,821 shares of the real estate investment trust's stock valued at $49,756,000 after purchasing an additional 2,271,671 shares during the period. Soros Fund Management LLC bought a new stake in shares of Rithm Capital during the 3rd quarter worth $23,835,000. Seven Grand Managers LLC bought a new stake in shares of Rithm Capital during the 3rd quarter worth $11,918,000. Finally, Maven Securities LTD purchased a new position in shares of Rithm Capital in the 3rd quarter worth about $11,350,000. Hedge funds and other institutional investors own 44.92% of the company's stock.

Rithm Capital Stock Performance

RITM stock traded down $0.15 during midday trading on Monday, reaching $11.37. 2,958,844 shares of the company's stock traded hands, compared to its average volume of 3,735,641. The firm has a market capitalization of $5.91 billion, a PE ratio of 11.49 and a beta of 1.79. The company has a 50-day moving average price of $11.11 and a two-hundred 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 quick ratio of 1.35 and a current ratio of 1.35.

Rithm Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, December 31st were paid 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 dividend yield of 8.80%. Rithm Capital's payout ratio is 101.01%.

Wall Street Analyst Weigh In

Several analysts have commented on RITM shares. JMP Securities reaffirmed a "market outperform" rating and issued a $12.50 price objective on shares of Rithm Capital in a research report on Thursday, January 23rd. Keefe, Bruyette & Woods raised 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. B. Riley upgraded Rithm Capital to a "strong-buy" rating in a research note on Tuesday, January 7th. Royal Bank of Canada reissued an "outperform" rating and issued a $13.00 target price on shares of Rithm Capital in a research report on Thursday, November 21st. Finally, Wedbush restated an "outperform" rating and issued a $14.00 target price on shares of Rithm Capital in a research note on Thursday, November 7th. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Rithm Capital has an average rating of "Buy" and a consensus price target of $12.94.

About Rithm Capital

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.