Mitsubishi UFJ Trust & Banking Corp lowered its holdings in shares of Rithm Capital Corp. (NYSE:RITM - Free Report) by 10.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 410,236 shares of the real estate investment trust's stock after selling 48,734 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.08% of Rithm Capital worth $4,443,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of RITM. Vanguard Group Inc. grew its position in shares of Rithm Capital by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 49,008,422 shares of the real estate investment trust's stock valued at $530,761,000 after purchasing an additional 184,802 shares during the period. Geode Capital Management LLC raised its holdings in shares of Rithm Capital by 7.8% during the third 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 last quarter. JPMorgan Chase & Co. lifted its position 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 boosted its stake in shares of Rithm Capital by 107.6% in the third quarter. Azora Capital LP now owns 4,383,821 shares of the real estate investment trust's stock worth $49,756,000 after acquiring an additional 2,271,671 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in shares of Rithm Capital by 37.8% during the third quarter. Wellington Management Group LLP now owns 3,567,917 shares of the real estate investment trust's stock worth $40,496,000 after purchasing an additional 978,954 shares in the last quarter. Hedge funds and other institutional investors own 44.92% of the company's stock.
Rithm Capital Trading Down 7.2 %
Shares of RITM traded down $0.82 during mid-day trading on Friday, reaching $10.44. The stock had a trading volume of 15,751,942 shares, compared to its average volume of 3,660,064. Rithm Capital Corp. has a 52-week low of $10.28 and a 52-week high of $12.20. The firm has a market cap of $5.43 billion, a price-to-earnings ratio of 6.25 and a beta of 1.83. The business's fifty day moving average is $11.68 and its 200 day moving average is $11.22. 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 announced its quarterly earnings results on Thursday, February 6th. The real estate investment trust reported $0.60 earnings per share (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%. On average, sell-side analysts predict that Rithm Capital Corp. will post 1.93 EPS for the current fiscal year.
Rithm Capital Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be given a $0.25 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.00 dividend on an annualized basis and a yield of 9.58%. Rithm Capital's dividend payout ratio is currently 59.88%.
Analyst Upgrades and Downgrades
A number of research analysts have weighed in on RITM shares. Piper Sandler raised their price objective on Rithm Capital from $11.50 to $12.50 and gave the company a "neutral" rating in a report on Friday, February 7th. JMP Securities reissued a "market outperform" rating and issued a $12.50 price target on shares of Rithm Capital in a research note on Thursday, January 23rd. B. Riley raised shares of Rithm Capital to a "strong-buy" rating in a research note on Tuesday, January 7th. Finally, Wedbush reissued an "outperform" rating and issued a $14.00 target price on shares of Rithm Capital in a research note on Friday, March 28th. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Buy" and an average price target of $13.25.
View Our Latest Stock Analysis on RITM
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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