Zurcher Kantonalbank Zurich Cantonalbank Decreases Stock Position in Rithm Capital Corp. (NYSE:RITM)

Zurcher Kantonalbank Zurich Cantonalbank lowered its stake in shares of Rithm Capital Corp. (NYSE:RITM) by 9.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 82,064 shares of the real estate investment trust’s stock after selling 9,031 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Rithm Capital were worth $876,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of RITM. Castleview Partners LLC lifted its stake in shares of Rithm Capital by 690.6% during the third quarter. Castleview Partners LLC now owns 4,016 shares of the real estate investment trust’s stock worth $37,000 after buying an additional 3,508 shares during the period. BluePath Capital Management LLC purchased a new position in shares of Rithm Capital in the third quarter worth about $70,000. Harvest Fund Management Co. Ltd purchased a new stake in Rithm Capital in the third quarter valued at approximately $94,000. Meeder Asset Management Inc. acquired a new position in Rithm Capital in the 4th quarter worth approximately $95,000. Finally, Fox Run Management L.L.C. acquired a new stake in Rithm Capital during the 3rd quarter valued at approximately $103,000. 44.92% of the stock is owned by hedge funds and other institutional investors.

Rithm Capital Price Performance

Rithm Capital stock opened at $11.21 on Monday. Rithm Capital Corp. has a 1 year low of $7.59 and a 1 year high of $11.33. The company’s 50 day simple moving average is $10.89 and its 200-day simple moving average is $10.49. The company has a market capitalization of $5.42 billion, a price-to-earnings ratio of 10.19 and a beta of 1.82. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.30 and a current ratio of 0.30.

Rithm Capital (NYSE:RITM) last announced its quarterly earnings data on Wednesday, February 7th. The real estate investment trust reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.16. Rithm Capital had a net margin of 17.15% and a return on equity of 18.49%. The firm had revenue of $709.47 million during the quarter, compared to analysts’ expectations of $887.04 million. During the same quarter in the previous year, the business posted $0.33 earnings per share. As a group, equities research analysts expect that Rithm Capital Corp. will post 1.69 earnings per share for the current year.

Rithm Capital Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Monday, April 1st were paid a dividend of $0.25 per share. The ex-dividend date was Thursday, March 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.92%. Rithm Capital’s payout ratio is 90.91%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on RITM. Royal Bank of Canada reissued an “outperform” rating and set a $12.00 target price on shares of Rithm Capital in a report on Monday, April 1st. Jonestrading raised their target price on Rithm Capital from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. Argus boosted 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. JMP Securities reaffirmed a “market outperform” rating and set a $11.00 price objective on shares of Rithm Capital in a research note on Thursday, April 18th. Finally, Wedbush reissued an “outperform” rating and set a $13.00 target price on shares of Rithm Capital in a research note on Monday, February 26th. Nine equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and a consensus target price 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.