Rithm Capital Corp. (NYSE:RITM) Shares Sold by Strs Ohio

Strs Ohio reduced its holdings in shares of Rithm Capital Corp. (NYSE:RITM) by 19.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 188,352 shares of the real estate investment trust’s stock after selling 45,791 shares during the quarter. Strs Ohio’s holdings in Rithm Capital were worth $2,011,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the business. Geode Capital Management LLC purchased a new position in Rithm Capital in the fourth quarter valued at approximately $50,728,000. Nan Shan Life Insurance Co. Ltd. purchased a new position in shares of Rithm Capital in the 4th quarter valued at $47,845,000. Morgan Stanley purchased a new position in shares of Rithm Capital in the 4th quarter valued at $38,490,000. Charles Schwab Investment Management Inc. acquired a new stake in Rithm Capital during the 4th quarter worth $36,301,000. Finally, Macquarie Group Ltd. lifted its position in Rithm Capital by 1,471.0% in the first quarter. Macquarie Group Ltd. now owns 2,108,416 shares of the real estate investment trust’s stock valued at $16,867,000 after acquiring an additional 1,974,208 shares during the last quarter. Hedge funds and other institutional investors own 44.92% of the company’s stock.

Analyst Ratings Changes

RITM has been the topic of a number of research analyst reports. JMP Securities reiterated a “market outperform” rating and set a $11.00 target price on shares of Rithm Capital in a research report on Thursday. B. Riley boosted their price objective on Rithm Capital from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. Wedbush restated an “outperform” rating and set a $13.00 target price on shares of Rithm Capital in a research report on Monday, February 26th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $12.00 target price on shares of Rithm Capital in a report on Monday, April 1st. Finally, Jonestrading increased their price target on shares of Rithm Capital from $11.00 to $12.00 and gave the stock a “buy” rating in a research note on Thursday, February 22nd. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, Rithm Capital presently has an average rating of “Buy” and a consensus price target of $12.00.

Rithm Capital Stock Performance

NYSE:RITM opened at $10.82 on Friday. The firm has a market cap of $5.24 billion, a price-to-earnings ratio of 9.84 and a beta of 1.82. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.30 and a quick ratio of 0.30. Rithm Capital Corp. has a 1-year low of $7.59 and a 1-year high of $11.33. The firm’s fifty day moving average price is $10.82 and its 200 day moving average price is $10.41.

Rithm Capital (NYSE:RITM) last issued its quarterly earnings results on Wednesday, February 7th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.16. The business 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 business posted $0.33 earnings per share. On average, sell-side analysts expect that Rithm Capital Corp. will post 1.69 EPS for the current year.

Rithm Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Monday, April 1st will be issued a $0.25 dividend. The ex-dividend date is Thursday, March 28th. This represents a $1.00 annualized dividend and a dividend yield of 9.24%. Rithm Capital’s dividend payout ratio is currently 90.91%.

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.