Inceptionr LLC reduced its stake in Rithm Capital Corp. (NYSE:RITM - Free Report) by 23.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 110,562 shares of the real estate investment trust's stock after selling 34,193 shares during the period. Inceptionr LLC's holdings in Rithm Capital were worth $1,197,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its stake in Rithm Capital by 7.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,364,962 shares of the real estate investment trust's stock worth $60,892,000 after purchasing an additional 366,600 shares during the period. JPMorgan Chase & Co. increased its stake in Rithm Capital by 119.1% during the third quarter. JPMorgan Chase & Co. now owns 4,608,008 shares of the real estate investment trust's stock worth $52,301,000 after purchasing an additional 2,504,529 shares during the period. Neo Ivy Capital Management purchased a new stake in Rithm Capital during the third quarter worth about $1,476,000. EMC Capital Management increased its stake in Rithm Capital by 1,349.0% during the fourth quarter. EMC Capital Management now owns 35,371 shares of the real estate investment trust's stock worth $383,000 after purchasing an additional 32,930 shares during the period. Finally, Meridian Financial Partners LLC purchased a new stake in Rithm Capital during the fourth quarter worth about $898,000. 44.92% of the stock is currently owned by hedge funds and other institutional investors.
Rithm Capital Stock Up 0.9 %
RITM traded up $0.11 on Friday, reaching $11.83. The company's stock had a trading volume of 3,516,091 shares, compared to its average volume of 3,394,250. The stock has a 50 day moving average of $11.48 and a two-hundred day moving average of $11.23. The company has a quick ratio of 1.35, a current ratio of 1.09 and a debt-to-equity ratio of 1.74. The company has a market capitalization of $6.16 billion, a price-to-earnings ratio of 7.08 and a beta of 1.83. Rithm Capital Corp. has a fifty-two week low of $10.38 and a fifty-two week high of $12.20.
Rithm Capital (NYSE:RITM - Get Free Report) last posted its quarterly earnings data 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, analysts forecast that Rithm Capital Corp. will post 1.93 EPS for the current fiscal year.
Rithm Capital Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 8.46%. The ex-dividend date was Tuesday, December 31st. Rithm Capital's dividend payout ratio (DPR) is presently 59.88%.
Wall Street Analyst Weigh In
A number of analysts have issued reports on RITM shares. JMP Securities reiterated a "market outperform" rating and set a $12.50 price target on shares of Rithm Capital in a research note on Thursday, January 23rd. B. Riley upgraded shares of Rithm Capital to a "strong-buy" rating in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods upped their target price 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. Royal Bank of Canada restated an "outperform" rating and set a $13.00 target price on shares of Rithm Capital in a research note on Thursday, November 21st. Finally, Piper Sandler upped their target price on shares of Rithm Capital from $11.50 to $12.50 and gave the stock a "neutral" rating in a research note on Friday, February 7th. One 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, the stock presently has a consensus rating of "Buy" and a consensus target price of $13.25.
Check Out Our Latest Report on Rithm Capital
Rithm Capital Company 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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