Short Interest in Rithm Capital Corp. (NYSE:RITM) Declines By 17.4%

Rithm Capital Corp. (NYSE:RITM - Get Free Report) saw a large decrease in short interest in January. As of January 31st, there was short interest totalling 3,900,000 shares, a decrease of 17.4% from the January 15th total of 4,720,000 shares. Based on an average daily volume of 3,640,000 shares, the short-interest ratio is presently 1.1 days. Currently, 0.8% of the company's stock are short sold.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Rithm Capital by 0.4% during 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 in the last quarter. Geode Capital Management LLC increased its position in Rithm Capital by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 8,494,199 shares of the real estate investment trust's stock valued at $92,021,000 after acquiring an additional 79,142 shares during the period. Norges Bank bought a new position in shares of Rithm Capital during the fourth quarter valued at $76,082,000. Balyasny Asset Management L.P. grew its stake in shares of Rithm Capital by 48.6% in the fourth quarter. Balyasny Asset Management L.P. now owns 6,535,525 shares of the real estate investment trust's stock worth $70,780,000 after purchasing an additional 2,136,342 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in 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 worth $60,892,000 after purchasing an additional 366,600 shares during the last quarter. 44.92% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on RITM. B. Riley raised shares of Rithm Capital to a "strong-buy" rating in a research report on Tuesday, January 7th. Keefe, Bruyette & Woods upped their price objective on Rithm Capital from $13.00 to $13.50 and gave the company an "outperform" rating in a research note on Tuesday, December 3rd. Wedbush reiterated an "outperform" rating and set a $14.00 target price on shares of Rithm Capital in a research note on Thursday, November 7th. Piper Sandler raised their price target on Rithm Capital from $11.50 to $12.50 and gave the company a "neutral" rating in a report on Friday, February 7th. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $12.50 price objective on shares of Rithm Capital in a research report on Thursday, January 23rd. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Rithm Capital currently has a consensus rating of "Buy" and an average target price of $12.94.

Rithm Capital Price Performance

NYSE RITM traded down $0.05 during midday trading on Wednesday, hitting $11.94. The company had a trading volume of 2,950,372 shares, compared to its average volume of 3,722,476. The company has a market capitalization of $6.20 billion, a PE ratio of 7.15 and a beta of 1.79. Rithm Capital has a twelve month low of $10.38 and a twelve month high of $12.10. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.63. The firm has a 50-day moving average price of $11.28 and a 200-day moving average price of $11.17.

Rithm Capital (NYSE:RITM - Get Free Report) last announced its quarterly earnings data 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 18.46%. As a group, analysts anticipate that Rithm Capital will post 1.93 earnings per share for the current fiscal year.

Rithm Capital Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, December 31st were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 8.38%. The ex-dividend date was Tuesday, December 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.