Strategic Financial Concepts LLC bought a new stake in Rithm Capital Corp. (NYSE:RITM - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 85,066 shares of the real estate investment trust's stock, valued at approximately $921,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. SeaCrest Wealth Management LLC boosted its position in Rithm Capital by 1.0% during the fourth quarter. SeaCrest Wealth Management LLC now owns 94,566 shares of the real estate investment trust's stock worth $1,024,000 after purchasing an additional 951 shares during the period. AQR Capital Management LLC raised its stake in Rithm Capital by 4.1% in the second quarter. AQR Capital Management LLC now owns 29,848 shares of the real estate investment trust's stock valued at $326,000 after purchasing an additional 1,183 shares in the last quarter. Empowered Funds LLC raised its stake in Rithm Capital by 8.3% in the third quarter. Empowered Funds LLC now owns 15,824 shares of the real estate investment trust's stock valued at $176,000 after purchasing an additional 1,216 shares in the last quarter. HB Wealth Management LLC raised its stake in shares of Rithm Capital by 10.4% during the fourth quarter. HB Wealth Management LLC now owns 15,024 shares of the real estate investment trust's stock worth $163,000 after acquiring an additional 1,411 shares in the last quarter. Finally, Foster Victor Wealth Advisors LLC raised its stake in shares of Rithm Capital by 2.6% during the fourth quarter. Foster Victor Wealth Advisors LLC now owns 57,849 shares of the real estate investment trust's stock worth $657,000 after acquiring an additional 1,457 shares in the last quarter. Hedge funds and other institutional investors own 44.92% of the company's stock.
Rithm Capital Price Performance
Shares of NYSE RITM traded up $0.04 during midday trading on Friday, reaching $12.03. 2,741,763 shares of the stock traded hands, compared to its average volume of 3,619,548. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.35 and a quick ratio of 1.35. The stock has a market capitalization of $6.25 billion, a PE ratio of 7.20 and a beta of 1.79. Rithm Capital Corp. has a one year low of $10.36 and a one year high of $12.10. The company's 50 day moving average is $11.23 and its 200 day moving average is $11.16.
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 for the quarter, topping analysts' consensus estimates of $0.44 by $0.16. Rithm Capital had a return on equity of 18.46% and a net margin of 17.79%. On average, equities research analysts anticipate that Rithm Capital Corp. will post 1.92 earnings per share for the current year.
Rithm Capital Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 8.32%. The ex-dividend date was Tuesday, December 31st. Rithm Capital's dividend payout ratio is presently 59.88%.
Wall Street Analysts Forecast Growth
Several brokerages recently commented on RITM. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $13.00 target price on shares of Rithm Capital in a research note on Thursday, November 21st. JMP Securities reaffirmed a "market outperform" rating and issued a $12.50 target price on shares of Rithm Capital in a research note on Thursday, January 23rd. Keefe, Bruyette & Woods lifted 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. Wedbush reaffirmed an "outperform" rating and issued a $14.00 target price on shares of Rithm Capital in a research note on Thursday, November 7th. Finally, Piper Sandler lifted their price target on shares of Rithm Capital from $11.50 to $12.50 and gave the company a "neutral" rating in a report on Friday, February 7th. One analyst has rated the stock with a hold rating, six have issued 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 a consensus target price of $12.94.
Get Our Latest Research Report on RITM
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.
Featured Stories
Before you consider Rithm Capital, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Rithm Capital wasn't on the list.
While Rithm Capital currently has a "Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Which stocks are likely to thrive in today's challenging market? Enter your email address and we'll send you MarketBeat's list of ten stocks that will drive in any economic environment.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
