State of New Jersey Common Pension Fund D increased its position in Rithm Capital Corp. (NYSE:RITM - Free Report) by 18.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 382,722 shares of the real estate investment trust's stock after buying an additional 60,922 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.07% of Rithm Capital worth $4,145,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other large investors have also added to or reduced their stakes in the company. Strategic Financial Concepts LLC bought a new position in Rithm Capital during the 4th quarter worth approximately $921,000. Allworth Financial LP raised its position in shares of Rithm Capital by 1,437.5% during the fourth quarter. Allworth Financial LP now owns 133,688 shares of the real estate investment trust's stock worth $1,505,000 after purchasing an additional 124,993 shares during the period. Rhumbline Advisers lifted its holdings in shares of Rithm Capital by 7.7% in the 4th quarter. Rhumbline Advisers now owns 495,456 shares of the real estate investment trust's stock worth $5,366,000 after purchasing an additional 35,405 shares in the last quarter. Allspring Global Investments Holdings LLC grew its position in Rithm Capital by 15.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 21,683 shares of the real estate investment trust's stock valued at $235,000 after purchasing an additional 2,978 shares during the period. Finally, Essex Financial Services Inc. increased its stake in Rithm Capital by 8.1% during the 4th quarter. Essex Financial Services Inc. now owns 17,131 shares of the real estate investment trust's stock valued at $186,000 after purchasing an additional 1,277 shares in the last quarter. Institutional investors own 44.92% of the company's stock.
Rithm Capital Stock Performance
Shares of RITM traded down $0.10 during trading hours on Friday, hitting $11.89. The company's stock had a trading volume of 3,649,394 shares, compared to its average volume of 3,500,757. The business has a 50 day simple moving average of $11.31 and a two-hundred day simple moving average of $11.18. Rithm Capital Corp. has a 52-week low of $10.38 and a 52-week high of $12.10. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.09 and a quick ratio of 1.35. The company has a market cap of $6.19 billion, a price-to-earnings ratio of 7.12 and a beta of 1.79.
Rithm Capital (NYSE:RITM - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The real estate investment trust reported $0.60 earnings per share for the quarter, beating 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, equities analysts expect that Rithm Capital Corp. will post 1.93 earnings per share for the current fiscal year.
Rithm Capital Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st were paid a $0.25 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $1.00 annualized dividend and a yield of 8.41%. Rithm Capital's dividend payout ratio is currently 59.88%.
Analyst Upgrades and Downgrades
A number of research analysts have recently issued reports on RITM shares. Keefe, Bruyette & Woods lifted their price objective on shares of Rithm Capital from $13.00 to $13.50 and gave the company an "outperform" rating in a report on Tuesday, December 3rd. B. Riley raised Rithm Capital to a "strong-buy" rating in a research report on Tuesday, January 7th. Piper Sandler lifted their target price 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. Wedbush reaffirmed an "outperform" rating and set a $14.00 price target on shares of Rithm Capital in a research report on Thursday, November 7th. Finally, JMP Securities restated a "market outperform" rating and set a $12.50 price target on shares of Rithm Capital in a research report on Thursday, January 23rd. One equities 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's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Buy" and an average target price of $12.94.
Check Out Our Latest Report on Rithm Capital
Rithm Capital 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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