Rithm Capital Corp. (NYSE:RITM) Stake Raised by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC increased its position in shares of Rithm Capital Corp. (NYSE:RITM) by 177.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 46,882 shares of the real estate investment trust’s stock after purchasing an additional 29,960 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Rithm Capital were worth $501,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. bought a new stake in Rithm Capital during the fourth quarter worth approximately $95,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in Rithm Capital by 5.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 901,972 shares of the real estate investment trust’s stock worth $9,633,000 after purchasing an additional 48,484 shares in the last quarter. International Assets Investment Management LLC raised its holdings in Rithm Capital by 1,006.6% during the fourth quarter. International Assets Investment Management LLC now owns 157,972 shares of the real estate investment trust’s stock worth $1,687,000 after purchasing an additional 143,697 shares in the last quarter. Lewis Asset Management LLC bought a new stake in Rithm Capital during the fourth quarter worth approximately $2,813,000. Finally, DAVENPORT & Co LLC bought a new stake in Rithm Capital during the fourth quarter worth approximately $119,000. Institutional investors own 44.92% of the company’s stock.

Rithm Capital Trading Down 0.0 %

NYSE RITM opened at $11.13 on Friday. Rithm Capital Corp. has a twelve month low of $7.59 and a twelve month high of $11.33. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.30 and a current ratio of 0.30. The stock has a market cap of $5.38 billion, a price-to-earnings ratio of 10.15 and a beta of 1.82. The firm’s 50 day moving average price is $10.86 and its two-hundred day moving average price is $10.46.

Rithm Capital (NYSE:RITM) last posted its quarterly earnings results on Wednesday, February 7th. The real estate investment trust reported $0.51 EPS for the quarter, beating the consensus estimate of $0.35 by $0.16. Rithm Capital had a net margin of 17.15% and a return on equity of 18.49%. The business had revenue of $709.47 million for the quarter, compared to analysts’ expectations of $887.04 million. During the same period in the previous year, the company posted $0.33 EPS. Equities analysts anticipate that Rithm Capital Corp. will post 1.69 EPS for the current year.

Rithm Capital Dividend Announcement

The business 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 dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 8.99%. The ex-dividend date is Thursday, March 28th. Rithm Capital’s dividend payout ratio is currently 90.91%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on RITM. Wedbush reaffirmed an “outperform” rating and issued a $13.00 price target on shares of Rithm Capital in a report on Monday, February 26th. Argus upped their price target on Rithm Capital from $11.00 to $12.00 and gave the company a “buy” rating in a report on Tuesday, March 5th. Keefe, Bruyette & Woods upped their price target on Rithm Capital from $11.50 to $12.00 and gave the company an “outperform” rating in a report on Tuesday, April 16th. JMP Securities reaffirmed a “market outperform” rating and issued a $11.00 price target on shares of Rithm Capital in a report on Thursday, April 18th. Finally, Jonestrading upped their price target on Rithm Capital from $11.00 to $12.00 and gave the company a “buy” rating in a report on Thursday, February 22nd. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Rithm Capital presently has a consensus rating of “Buy” and a consensus price target of $12.00.

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.