Raymond James Trust N.A. Has $197,000 Stock Holdings in Rithm Capital Corp. (NYSE:RITM)

Raymond James Trust N.A. lifted its stake in shares of Rithm Capital Corp. (NYSE:RITMFree Report) by 52.5% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 18,484 shares of the real estate investment trust’s stock after buying an additional 6,360 shares during the quarter. Raymond James Trust N.A.’s holdings in Rithm Capital were worth $197,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. lifted its stake in shares of Rithm Capital by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 42,301,286 shares of the real estate investment trust’s stock worth $464,468,000 after buying an additional 321,279 shares during the last quarter. BlackRock Inc. raised its stake in Rithm Capital by 5.9% in the 2nd quarter. BlackRock Inc. now owns 26,305,368 shares of the real estate investment trust’s stock worth $245,955,000 after purchasing an additional 1,454,409 shares in the last quarter. Bank of America Corp DE raised its stake in Rithm Capital by 23.2% in the 1st quarter. Bank of America Corp DE now owns 9,832,254 shares of the real estate investment trust’s stock worth $78,658,000 after purchasing an additional 1,852,760 shares in the last quarter. Geode Capital Management LLC raised its stake in Rithm Capital by 7.0% in the 2nd quarter. Geode Capital Management LLC now owns 9,087,373 shares of the real estate investment trust’s stock worth $85,063,000 after purchasing an additional 594,546 shares in the last quarter. Finally, State Street Corp raised its stake in Rithm Capital by 2.5% in the 1st quarter. State Street Corp now owns 8,129,642 shares of the real estate investment trust’s stock worth $67,056,000 after purchasing an additional 195,356 shares in the last quarter. Institutional investors and hedge funds own 44.92% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on RITM shares. Wedbush reiterated an “outperform” rating and issued a $13.00 price objective on shares of Rithm Capital in a research note on Monday, February 26th. JMP Securities boosted their target price on shares of Rithm Capital from $10.50 to $11.00 and gave the company a “market outperform” rating in a research report on Thursday, January 18th. Jonestrading boosted their target price on shares of Rithm Capital from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Thursday, February 22nd. B. Riley boosted their target price on shares of Rithm Capital from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. Finally, UBS Group began coverage on shares of Rithm Capital in a research report on Wednesday, December 6th. They issued a “buy” rating and a $12.50 target price for the company. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $12.00.

View Our Latest Research Report on RITM

Rithm Capital Trading Up 2.1 %

Shares of Rithm Capital stock opened at $11.33 on Thursday. The firm has a market capitalization of $5.47 billion, a PE ratio of 10.30 and a beta of 1.82. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.12. The firm’s 50 day moving average is $10.78 and its 200 day moving average is $10.29. Rithm Capital Corp. has a 1 year low of $7.59 and a 1 year high of $11.33.

Rithm Capital (NYSE:RITMGet Free Report) last announced its quarterly earnings results on Wednesday, February 7th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.16. The company had revenue of $709.47 million for the quarter, compared to analyst estimates of $887.04 million. Rithm Capital had a net margin of 17.15% and a return on equity of 18.49%. During the same period in the previous year, the firm posted $0.33 EPS. Equities research analysts forecast that Rithm Capital Corp. will post 1.67 earnings per share for the current fiscal year.

Rithm Capital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Monday, April 1st will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 8.83%. The ex-dividend date of this dividend is Thursday, March 28th. Rithm Capital’s dividend payout ratio (DPR) is presently 90.91%.

About Rithm Capital

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Rithm Capital (NYSE:RITM)

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