Principal Financial Group Inc. Has $324,000 Stock Position in Rithm Capital Corp. (NYSE:RITM)

Principal Financial Group Inc. lowered its position in shares of Rithm Capital Corp. (NYSE:RITMFree Report) by 19.8% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 30,294 shares of the real estate investment trust’s stock after selling 7,481 shares during the quarter. Principal Financial Group Inc.’s holdings in Rithm Capital were worth $324,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of RITM. Barclays PLC raised its stake in Rithm Capital by 3.8% in the third quarter. Barclays PLC now owns 208,018 shares of the real estate investment trust’s stock valued at $1,931,000 after purchasing an additional 7,632 shares in the last quarter. Quantbot Technologies LP acquired a new position in Rithm Capital in the third quarter valued at about $279,000. Moors & Cabot Inc. raised its stake in Rithm Capital by 107.6% in the third quarter. Moors & Cabot Inc. now owns 43,800 shares of the real estate investment trust’s stock valued at $407,000 after purchasing an additional 22,700 shares in the last quarter. Avantax Advisory Services Inc. raised its stake in Rithm Capital by 12.9% in the third quarter. Avantax Advisory Services Inc. now owns 22,938 shares of the real estate investment trust’s stock valued at $213,000 after purchasing an additional 2,620 shares in the last quarter. Finally, Amalgamated Bank raised its stake in Rithm Capital by 39.7% in the third quarter. Amalgamated Bank now owns 100,378 shares of the real estate investment trust’s stock valued at $933,000 after purchasing an additional 28,537 shares in the last quarter. Institutional investors and hedge funds own 44.92% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Jonestrading boosted their price target on Rithm Capital from $11.00 to $12.00 and gave the company a “buy” rating in a research note on Thursday, February 22nd. Argus lifted their target price on Rithm Capital from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Tuesday, March 5th. B. Riley reiterated a “buy” rating and issued a $14.00 target price (up previously from $13.00) on shares of Rithm Capital in a research report on Friday, May 10th. JMP Securities reiterated a “market outperform” rating and issued a $11.00 target price on shares of Rithm Capital in a research report on Thursday, April 18th. Finally, Piper Sandler lifted their target price on Rithm Capital from $10.50 to $12.50 and gave the company a “neutral” rating in a research report on Tuesday, May 14th. One equities research analyst has rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $12.32.

Read Our Latest Research Report on RITM

Rithm Capital Stock Performance

NYSE:RITM opened at $11.24 on Wednesday. The stock has a market cap of $5.43 billion, a P/E ratio of 7.49 and a beta of 1.80. The company has a current ratio of 0.29, a quick ratio of 0.29 and a debt-to-equity ratio of 0.20. The stock’s 50-day moving average is $11.07 and its 200-day moving average is $10.82. Rithm Capital Corp. has a 1-year low of $8.44 and a 1-year high of $11.60.

Rithm Capital Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Monday, April 1st were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 8.90%. The ex-dividend date of this dividend was Thursday, March 28th. Rithm Capital’s payout ratio is presently 66.67%.

About Rithm Capital

(Free Report)

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.

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Institutional Ownership by Quarter for Rithm Capital (NYSE:RITM)

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