Strategic Financial Concepts LLC Purchases New Position in Rithm Capital Corp. (NYSE:RITM)

Strategic Financial Concepts LLC acquired a new position in Rithm Capital Corp. (NYSE:RITM - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 85,066 shares of the real estate investment trust's stock, valued at approximately $921,000.

Several other institutional investors have also bought and sold shares of RITM. Creative Planning raised its position in Rithm Capital by 20.6% in the third quarter. Creative Planning now owns 77,109 shares of the real estate investment trust's stock worth $875,000 after acquiring an additional 13,152 shares in the last quarter. Calton & Associates Inc. bought a new stake in Rithm Capital in the third quarter worth about $763,000. International Assets Investment Management LLC raised its position in Rithm Capital by 895.6% in the third quarter. International Assets Investment Management LLC now owns 167,617 shares of the real estate investment trust's stock worth $1,902,000 after acquiring an additional 150,782 shares in the last quarter. Highland Capital Management LLC raised its position in Rithm Capital by 10.2% in the third quarter. Highland Capital Management LLC now owns 54,125 shares of the real estate investment trust's stock worth $614,000 after acquiring an additional 5,000 shares in the last quarter. Finally, Allworth Financial LP raised its position in Rithm Capital by 281.2% in the third quarter. Allworth Financial LP now owns 8,695 shares of the real estate investment trust's stock worth $99,000 after acquiring an additional 6,414 shares in the last quarter. Institutional investors and hedge funds own 44.92% of the company's stock.

Analysts Set New Price Targets

Several brokerages have commented on RITM. Keefe, Bruyette & Woods boosted their price target on shares of Rithm Capital from $13.00 to $13.50 and gave the stock an "outperform" rating in a research report on Tuesday, December 3rd. Royal Bank of Canada reiterated an "outperform" rating and issued a $13.00 price target on shares of Rithm Capital in a research report on Thursday, November 21st. Wedbush restated an "outperform" rating and set a $14.00 price objective on shares of Rithm Capital in a report on Thursday, November 7th. B. Riley upgraded Rithm Capital to a "strong-buy" rating in a report on Tuesday, January 7th. Finally, JMP Securities restated a "market outperform" rating and set a $12.50 price objective on shares of Rithm Capital in a report on Thursday, January 23rd. One equities research 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.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $12.94.

Rithm Capital Stock Down 0.8 %

Shares of RITM traded down $0.10 during trading hours on Friday, reaching $11.89. The company's stock had a trading volume of 3,649,394 shares, compared to its average volume of 3,742,676. The firm has a market cap of $6.19 billion, a price-to-earnings ratio of 7.12 and a beta of 1.79. Rithm Capital Corp. has a 1-year low of $10.38 and a 1-year high of $12.10. The company has a quick ratio of 1.35, a current ratio of 1.09 and a debt-to-equity ratio of 1.74. The company has a 50 day moving average of $11.29 and a two-hundred day moving average of $11.18.

Rithm Capital (NYSE:RITM - Get Free Report) last issued its earnings results 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 return on equity of 18.15% and a net margin of 17.79%. As a group, research 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 was paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st were issued a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.41%. Rithm Capital's dividend payout ratio is 59.88%.

Rithm Capital Profile

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.