Rithm Capital Corp. (NYSE:RITM) Holdings Lowered by New York State Common Retirement Fund

New York State Common Retirement Fund trimmed its stake in shares of Rithm Capital Corp. (NYSE:RITM) by 10.1% in the 4th quarter, HoldingsChannel reports. The firm owned 383,146 shares of the real estate investment trust’s stock after selling 42,913 shares during the quarter. New York State Common Retirement Fund’s holdings in Rithm Capital were worth $4,092,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Castleview Partners LLC lifted its holdings 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 valued at $37,000 after purchasing an additional 3,508 shares during the last quarter. BluePath Capital Management LLC acquired a new position in Rithm Capital during the third quarter valued at $70,000. Harvest Fund Management Co. Ltd acquired a new position in Rithm Capital during the third quarter valued at $94,000. Meeder Asset Management Inc. acquired a new position in Rithm Capital during the fourth quarter valued at $95,000. Finally, Fox Run Management L.L.C. acquired a new position in Rithm Capital during the third quarter valued at $103,000. 44.92% of the stock is owned by hedge funds and other institutional investors.

Rithm Capital Stock Performance

Shares of RITM stock opened at $11.32 on Monday. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.30 and a quick ratio of 0.30. The firm has a market cap of $5.48 billion, a P/E ratio of 7.55 and a beta of 1.80. The stock’s 50-day moving average is $10.95 and its two-hundred day moving average is $10.56. Rithm Capital Corp. has a fifty-two week low of $7.59 and a fifty-two week high of $11.41.

Rithm Capital (NYSE:RITM) last issued its quarterly earnings data on Wednesday, February 7th. The real estate investment trust reported $0.51 EPS for the quarter, beating 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 return on equity of 19.38% and a net margin of 19.77%. During the same quarter in the prior year, the firm posted $0.33 EPS. Analysts predict that Rithm Capital Corp. will post 1.69 earnings per share for the current fiscal year.

Rithm Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Monday, April 1st were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.83%. The ex-dividend date of this dividend was Thursday, March 28th. Rithm Capital’s dividend payout ratio is 66.67%.

Analyst Ratings Changes

RITM has been the topic of several recent analyst reports. Argus upped their price target on Rithm Capital from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Tuesday, March 5th. Keefe, Bruyette & Woods upped their price target on Rithm Capital from $12.00 to $12.50 and gave the company an “outperform” rating in a research report on Thursday. Wedbush reissued an “outperform” rating and set a $13.00 price target on shares of Rithm Capital in a research report on Monday, February 26th. B. Riley upped their price target on Rithm Capital from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $11.00 target price on shares of Rithm Capital in a research report on Thursday, April 18th. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Rithm Capital currently has a consensus rating of “Buy” and an average target price of $12.05.

Rithm Capital 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.