GAMMA Investing LLC Acquires New Holdings in Rithm Capital Corp. (NYSE:RITM)

GAMMA Investing LLC acquired a new stake in Rithm Capital Corp. (NYSE:RITM) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 3,144 shares of the real estate investment trust’s stock, valued at approximately $34,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Parkside Financial Bank & Trust lifted its holdings in Rithm Capital by 605.1% in the 4th quarter. Parkside Financial Bank & Trust now owns 2,489 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 2,136 shares in the last quarter. Cetera Trust Company N.A purchased a new position in Rithm Capital in the 4th quarter valued at about $273,000. Signaturefd LLC lifted its holdings in Rithm Capital by 3.9% in the 4th quarter. Signaturefd LLC now owns 47,694 shares of the real estate investment trust’s stock valued at $509,000 after purchasing an additional 1,804 shares in the last quarter. Institute for Wealth Management LLC. lifted its holdings in Rithm Capital by 52.0% in the 4th quarter. Institute for Wealth Management LLC. now owns 42,761 shares of the real estate investment trust’s stock valued at $457,000 after purchasing an additional 14,627 shares in the last quarter. Finally, Cookson Peirce & Co. Inc. purchased a new position in shares of Rithm Capital during the 4th quarter worth about $157,000. 44.92% of the stock is owned by institutional investors and hedge funds.

Rithm Capital Stock Up 0.6 %

RITM opened at $11.32 on Monday. 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 Corp. has a 1 year low of $7.59 and a 1 year high of $11.41. The firm has a 50 day moving average price of $10.95 and a 200 day moving average price of $10.56. The company has a market cap of $5.48 billion, a PE ratio of 7.55 and a beta of 1.80.

Rithm Capital (NYSE:RITM) last issued its quarterly earnings data 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. Rithm Capital had a net margin of 19.77% and a return on equity of 19.38%. The company had revenue of $709.47 million during the quarter, compared to the consensus estimate of $887.04 million. During the same quarter last year, the company earned $0.33 earnings per share. Sell-side analysts expect that Rithm Capital Corp. will post 1.69 earnings per share for the current year.

Rithm Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Monday, April 1st were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 8.83%. The ex-dividend date of this dividend was Thursday, March 28th. Rithm Capital’s dividend payout ratio (DPR) is 66.67%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. Jonestrading increased their price objective on shares of Rithm Capital from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. Royal Bank of Canada reiterated an “outperform” rating and set a $12.00 price objective on shares of Rithm Capital in a report on Monday, April 1st. Keefe, Bruyette & Woods increased their price objective on shares of Rithm Capital from $12.00 to $12.50 and gave the stock an “outperform” rating in a report on Thursday. JMP Securities reiterated a “market outperform” rating and set a $11.00 price objective on shares of Rithm Capital in a report on Thursday, April 18th. Finally, B. Riley increased their price objective on shares of Rithm Capital from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat, Rithm Capital presently has an average rating of “Buy” and a consensus target price of $12.05.

About Rithm Capital

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.