Simplify Asset Management Inc. Purchases 40,980 Shares of Rithm Capital Corp. (NYSE:RITM)

Simplify Asset Management Inc. increased its holdings in shares of Rithm Capital Corp. (NYSE:RITM - Free Report) by 30.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 175,780 shares of the real estate investment trust's stock after purchasing an additional 40,980 shares during the quarter. Simplify Asset Management Inc.'s holdings in Rithm Capital were worth $1,904,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also bought and sold shares of the company. Geode Capital Management LLC boosted its stake in shares of Rithm Capital by 7.8% in the 3rd quarter. Geode Capital Management LLC now owns 8,415,057 shares of the real estate investment trust's stock worth $95,537,000 after buying an additional 610,698 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in shares of Rithm Capital by 7.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,364,962 shares of the real estate investment trust's stock valued at $60,892,000 after purchasing an additional 366,600 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Rithm Capital by 119.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,608,008 shares of the real estate investment trust's stock valued at $52,301,000 after purchasing an additional 2,504,529 shares during the period. Azora Capital LP lifted its stake in shares of 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 worth $49,756,000 after purchasing an additional 2,271,671 shares during the period. Finally, Wellington Management Group LLP boosted its holdings in shares of Rithm Capital by 37.8% in 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 buying an additional 978,954 shares during the last quarter. Hedge funds and other institutional investors own 44.92% of the company's stock.

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Analyst Ratings Changes

Several research analysts have weighed in on RITM shares. Piper Sandler increased their price target on shares of Rithm Capital from $11.50 to $12.50 and gave the stock a "neutral" rating in a research report on Friday, February 7th. JMP Securities reaffirmed a "market outperform" rating and issued a $12.50 target price on shares of Rithm Capital in a report on Thursday, January 23rd. Keefe, Bruyette & Woods boosted their price target on Rithm Capital from $13.00 to $13.50 and gave the company an "outperform" rating in a report on Tuesday, December 3rd. Finally, B. Riley raised Rithm Capital to a "strong-buy" rating in a research note on Tuesday, January 7th. One investment 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 MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $13.25.

Rithm Capital Price Performance

RITM stock traded down $0.04 during trading on Thursday, reaching $11.63. The company's stock had a trading volume of 2,827,533 shares, compared to its average volume of 3,451,312. The company's fifty day moving average is $11.69 and its 200-day moving average is $11.24. Rithm Capital Corp. has a 1 year low of $10.38 and a 1 year high of $12.20. The company has a market capitalization of $6.05 billion, a P/E ratio of 6.96 and a beta of 1.83. The company has a quick ratio of 1.35, a current ratio of 1.09 and a debt-to-equity ratio of 1.74.

Rithm Capital (NYSE:RITM - Get Free Report) last released its earnings results on Thursday, February 6th. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, topping 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%. On average, research analysts expect that Rithm Capital Corp. will post 1.93 earnings per share for the current fiscal year.

Rithm Capital Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 8.60%. The ex-dividend date is Monday, March 31st. Rithm Capital's dividend payout ratio (DPR) is presently 59.88%.

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.