Rithm Capital Corp. (NYSE:RITM) Shares Bought by Wells Fargo & Company MN

Wells Fargo & Company MN raised its holdings in shares of Rithm Capital Corp. (NYSE:RITM - Free Report) by 113.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,464,456 shares of the real estate investment trust's stock after acquiring an additional 779,771 shares during the period. Wells Fargo & Company MN owned about 0.28% of Rithm Capital worth $15,860,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in RITM. SeaCrest Wealth Management LLC raised its holdings in Rithm Capital by 1.0% in 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 buying an additional 951 shares during the last quarter. 1620 Investment Advisors Inc. lifted its position in Rithm Capital by 2.1% during the fourth quarter. 1620 Investment Advisors Inc. now owns 46,035 shares of the real estate investment trust's stock valued at $499,000 after purchasing an additional 960 shares during the period. Summit Trail Advisors LLC grew its stake in shares of Rithm Capital by 2.0% during the 4th quarter. Summit Trail Advisors LLC now owns 49,380 shares of the real estate investment trust's stock valued at $547,000 after purchasing an additional 967 shares during the period. Steward Partners Investment Advisory LLC increased its holdings in Rithm Capital by 2.9% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 35,792 shares of the real estate investment trust's stock valued at $388,000 after buying an additional 1,016 shares during the last quarter. Finally, US Bancorp DE boosted its stake in shares of Rithm Capital by 3.7% during the 4th quarter. US Bancorp DE now owns 32,458 shares of the real estate investment trust's stock worth $352,000 after acquiring an additional 1,155 shares during the last quarter. Institutional investors own 44.92% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. JMP Securities restated a "market outperform" rating and issued a $12.50 price target on shares of Rithm Capital in a research report on Thursday, January 23rd. 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 report on Friday, February 7th. Wedbush reaffirmed an "outperform" rating and issued a $14.00 price objective on shares of Rithm Capital in a research note on Friday, March 28th. UBS Group dropped their price objective on shares of Rithm Capital from $14.00 to $13.00 and set a "buy" rating on the stock in a research note on Wednesday. Finally, B. Riley upgraded Rithm Capital to a "strong-buy" rating in a report on Tuesday, January 7th. One equities research analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $13.21.

Rithm Capital Stock Performance

Shares of NYSE:RITM traded up $0.11 during trading on Friday, hitting $10.13. 4,871,959 shares of the stock traded hands, compared to its average volume of 3,835,591. The company has a fifty day moving average price of $11.34 and a two-hundred day moving average price of $11.10. Rithm Capital Corp. has a 52-week low of $9.13 and a 52-week high of $12.20. The company has a market cap of $5.37 billion, a price-to-earnings ratio of 6.06 and a beta of 1.36. 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 quarterly earnings results on Thursday, February 6th. The real estate investment trust reported $0.60 earnings per share for the quarter, beating the consensus estimate 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, equities analysts predict that Rithm Capital Corp. will post 1.93 EPS for the current year.

Rithm Capital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 9.87%. The ex-dividend date of this dividend is Monday, March 31st. Rithm Capital's dividend payout ratio (DPR) is presently 59.88%.

Rithm Capital Company 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.