Pinebridge Investments L.P. Reduces Stock Holdings in Rithm Capital Corp. (NYSE:RITM)

Pinebridge Investments L.P. lowered its position in Rithm Capital Corp. (NYSE:RITMFree Report) by 6.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 37,690 shares of the real estate investment trust’s stock after selling 2,603 shares during the quarter. Pinebridge Investments L.P.’s holdings in Rithm Capital were worth $403,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in RITM. Norges Bank purchased a new stake in Rithm Capital during the 4th quarter worth about $63,896,000. Northern Trust Corp increased its position in Rithm Capital by 69.3% during the 3rd quarter. Northern Trust Corp now owns 3,830,066 shares of the real estate investment trust’s stock worth $35,581,000 after purchasing an additional 1,567,489 shares in the last quarter. Qube Research & Technologies Ltd increased its position in Rithm Capital by 360.6% during the 3rd quarter. Qube Research & Technologies Ltd now owns 956,788 shares of the real estate investment trust’s stock worth $8,889,000 after purchasing an additional 749,058 shares in the last quarter. Allianz Asset Management GmbH increased its position in Rithm Capital by 107.7% during the 4th quarter. Allianz Asset Management GmbH now owns 1,171,379 shares of the real estate investment trust’s stock worth $12,510,000 after purchasing an additional 607,413 shares in the last quarter. Finally, Invesco Ltd. increased its position in Rithm Capital by 67.0% during the 3rd quarter. Invesco Ltd. now owns 1,198,412 shares of the real estate investment trust’s stock worth $11,133,000 after purchasing an additional 480,769 shares in the last quarter. Hedge funds and other institutional investors own 44.92% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on RITM. B. Riley reiterated a “buy” rating and set a $14.00 price objective (up previously from $13.00) on shares of Rithm Capital in a research report on Friday, May 10th. Piper Sandler raised their price target on Rithm Capital from $10.50 to $12.50 and gave the stock a “neutral” rating in a research note on Tuesday, May 14th. Keefe, Bruyette & Woods raised their price target on Rithm Capital from $12.00 to $12.50 and gave the stock an “outperform” rating in a research note on Thursday, May 2nd. JMP Securities reissued a “market outperform” rating and issued a $11.00 price target on shares of Rithm Capital in a research note on Thursday, April 18th. Finally, Argus raised their price target on Rithm Capital from $11.00 to $12.00 and gave the stock a “buy” rating in a research note on Tuesday, March 5th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $12.32.

Check Out Our Latest Research Report on RITM

Rithm Capital Stock Performance

NYSE RITM opened at $11.14 on Monday. The firm has a market capitalization of $5.39 billion, a P/E ratio of 7.43 and a beta of 1.80. Rithm Capital Corp. has a 1-year low of $8.81 and a 1-year high of $11.60. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.29 and a quick ratio of 0.29. The business’s 50-day simple moving average is $11.07 and its 200-day simple moving average is $10.84.

Rithm Capital Dividend Announcement

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 dividend of $0.25 per share. The ex-dividend date was Thursday, March 28th. This represents a $1.00 annualized dividend and a dividend yield of 8.98%. Rithm Capital’s payout ratio is currently 66.67%.

Rithm Capital Company Profile

(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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