7,525 Shares in Rithm Capital Corp. (NYSE:RITM) Purchased by C M Bidwell & Associates Ltd.

C M Bidwell & Associates Ltd. acquired a new stake in shares of Rithm Capital Corp. (NYSE:RITM) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,525 shares of the real estate investment trust’s stock, valued at approximately $81,000.

Several other institutional investors have also modified their holdings of the stock. JPMorgan Chase & Co. boosted its stake in shares of Rithm Capital by 119.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,608,008 shares of the real estate investment trust’s stock worth $52,301,000 after purchasing an additional 2,504,529 shares during the period. Neo Ivy Capital Management purchased a new position in shares of Rithm Capital during the third quarter valued at approximately $1,476,000. Bank of New York Mellon Corp grew its stake in shares of Rithm Capital by 9.1% during the fourth quarter. Bank of New York Mellon Corp now owns 1,916,453 shares of the real estate investment trust’s stock valued at $20,755,000 after buying an additional 159,506 shares during the last quarter. EMC Capital Management raised its holdings in shares of Rithm Capital by 1,349.0% in the fourth quarter. EMC Capital Management now owns 35,371 shares of the real estate investment trust’s stock worth $383,000 after buying an additional 32,930 shares during the period. Finally, Meridian Financial Partners LLC bought a new stake in shares of Rithm Capital during the 4th quarter worth approximately $898,000. 44.92% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on RITM shares. JMP Securities reiterated a “market outperform” rating and set a $12.50 target price on shares of Rithm Capital in a research report on Thursday, January 23rd. Wedbush reiterated an “outperform” rating and set a $14.00 price objective on shares of Rithm Capital in a report on Friday. B. Riley raised shares of Rithm Capital to a “strong-buy” rating in a research report on Tuesday, January 7th. 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 research note on Friday, February 7th. Finally, Keefe, Bruyette & Woods increased their price objective on Rithm Capital from $13.00 to $13.50 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. One analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $13.25.

Rithm Capital Stock Performance

Shares of NYSE:RITM opened at $11.39 on Monday. The firm has a 50 day moving average of $11.69 and a 200 day moving average of $11.23. 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 market capitalization of $5.93 billion, a price-to-earnings ratio of 6.82 and a beta of 1.83. Rithm Capital Corp. has a 52 week low of $10.38 and a 52 week high of $12.20.

Rithm Capital (NYSE:RITM) last issued its quarterly earnings data 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 18.15% and a net margin of 17.79%. On average, sell-side analysts predict that Rithm Capital Corp. will post 1.93 earnings per share for the current fiscal year.

Rithm Capital Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be given a dividend of $0.25 per share. The ex-dividend date is Monday, March 31st. This represents a $1.00 dividend on an annualized basis and a yield of 8.78%. Rithm Capital’s 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.