Bleakley Financial Group LLC bought a new position in shares of Rithm Capital Corp. (NYSE:RITM – Get Rating) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 10,330 shares of the real estate investment trust’s stock, valued at approximately $84,000.
Several other hedge funds have also recently bought and sold shares of the company. Edge Capital Group LLC purchased a new stake in shares of Rithm Capital during the 4th quarter worth approximately $245,000. LPL Financial LLC purchased a new position in shares of Rithm Capital during the fourth quarter worth approximately $2,814,000. IFP Advisors Inc acquired a new stake in shares of Rithm Capital during the fourth quarter worth about $231,000. Shell Asset Management Co. purchased a new stake in shares of Rithm Capital during the fourth quarter worth approximately $99,000. Finally, Handelsbanken Fonder AB purchased a new stake in shares of Rithm Capital during the fourth quarter worth approximately $617,000. Institutional investors and hedge funds own 47.30% of the company’s stock.
Analysts Set New Price Targets
Separately, JMP Securities dropped their price target on shares of Rithm Capital from $11.00 to $9.00 and set an “outperform” rating on the stock in a research note on Friday, April 21st. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $10.50.
Rithm Capital Price Performance
Rithm Capital (NYSE:RITM – Get Rating) last announced its quarterly earnings data on Thursday, May 4th. The real estate investment trust reported $0.35 EPS for the quarter, beating analysts’ consensus estimates of $0.32 by $0.03. Rithm Capital had a return on equity of 12.41% and a net margin of 9.52%. The business had revenue of $783.42 million during the quarter, compared to the consensus estimate of $807.88 million. During the same quarter in the previous year, the business earned $0.37 earnings per share. On average, sell-side analysts expect that Rithm Capital Corp. will post 1.36 earnings per share for the current fiscal year.
Rithm Capital Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, April 28th. Stockholders of record on Friday, March 31st were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, March 30th. This represents a $1.00 annualized dividend and a dividend yield of 12.66%. Rithm Capital’s dividend payout ratio is presently 178.57%.
Rithm Capital Company Profile
Rithm Capital Corp. is a real estate investment trust, which aims to generate long-term value for investors by investing in mortgage related assets, including operating companies, that offer attractive risk-adjusted returns. It operates through the following segments: Origination, Servicing, MSR Related Investments, Residential Securities, Properties and Loans, Consumer Loans, Mortgage Loans Receivables, and Corporate.
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