Wedbush Securities Inc. Grows Stock Holdings in Rithm Capital Corp. (NYSE:RITM)

Wedbush Securities Inc. lifted its stake in Rithm Capital Corp. (NYSE:RITM - Free Report) by 13.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 231,682 shares of the real estate investment trust's stock after purchasing an additional 27,924 shares during the quarter. Wedbush Securities Inc.'s holdings in Rithm Capital were worth $2,509,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its position in shares of Rithm Capital by 119.1% during the third quarter. JPMorgan Chase & Co. now owns 4,608,008 shares of the real estate investment trust's stock valued at $52,301,000 after acquiring an additional 2,504,529 shares in the last quarter. Neo Ivy Capital Management bought a new stake in shares of Rithm Capital in the 3rd quarter worth $1,476,000. Bank of New York Mellon Corp raised its stake in shares of Rithm Capital by 9.1% in the fourth quarter. Bank of New York Mellon Corp now owns 1,916,453 shares of the real estate investment trust's stock worth $20,755,000 after purchasing an additional 159,506 shares during the last quarter. EMC Capital Management lifted its holdings in shares of Rithm Capital by 1,349.0% during the fourth quarter. EMC Capital Management now owns 35,371 shares of the real estate investment trust's stock valued at $383,000 after purchasing an additional 32,930 shares in the last quarter. Finally, Meridian Financial Partners LLC bought a new stake in Rithm Capital in the 4th quarter worth about $898,000. 44.92% of the stock is owned by institutional investors.

Rithm Capital Stock Performance

RITM traded up $0.01 during trading on Friday, hitting $9.58. The company's stock had a trading volume of 3,709,857 shares, compared to its average volume of 3,787,562. The business's 50 day simple moving average is $11.51 and its 200-day simple moving average is $11.14. The firm has a market cap of $4.99 billion, a PE ratio of 5.73 and a beta of 1.36. Rithm Capital Corp. has a one year low of $9.13 and a one year high of $12.20. 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 announced its earnings results on Thursday, February 6th. The real estate investment trust reported $0.60 EPS for the quarter, topping 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, sell-side analysts predict that Rithm Capital Corp. will post 1.93 EPS for the current fiscal year.

Rithm Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 10.44%. Rithm Capital's dividend payout ratio (DPR) is presently 59.88%.

Wall Street Analyst Weigh In

Several research firms have issued reports on RITM. Piper Sandler upped their target price on shares of Rithm Capital from $11.50 to $12.50 and gave the company a "neutral" rating in a research note on Friday, February 7th. B. Riley upgraded shares of Rithm Capital to a "strong-buy" rating in a report on Tuesday, January 7th. JMP Securities reiterated a "market outperform" rating and set a $12.50 target price on shares of Rithm Capital in a research note on Thursday, January 23rd. Finally, Wedbush reissued an "outperform" rating and set a $14.00 price target on shares of Rithm Capital in a report on Friday, March 28th. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Buy" and an average target price of $13.25.

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.