Allspring Global Investments Holdings LLC Has $802,000 Holdings in Rithm Capital Corp. (NYSE:RITM)

Allspring Global Investments Holdings LLC increased its holdings in Rithm Capital Corp. (NYSE:RITMFree Report) by 53.3% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 71,870 shares of the real estate investment trust’s stock after acquiring an additional 24,988 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Rithm Capital were worth $802,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Parkside Financial Bank & Trust increased its stake 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 buying an additional 2,136 shares during the last quarter. American National Bank purchased a new stake in Rithm Capital in the 4th quarter valued at about $27,000. Raleigh Capital Management Inc. increased its stake in Rithm Capital by 125.4% in the 4th quarter. Raleigh Capital Management Inc. now owns 2,986 shares of the real estate investment trust’s stock valued at $32,000 after buying an additional 1,661 shares during the last quarter. GAMMA Investing LLC purchased a new stake in Rithm Capital in the 4th quarter valued at about $34,000. Finally, Altshuler Shaham Ltd purchased a new stake in Rithm Capital in the 4th quarter valued at about $43,000. Institutional investors and hedge funds own 44.92% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on RITM shares. Royal Bank of Canada reissued an “outperform” rating and set a $12.00 target price on shares of Rithm Capital in a research report on Monday, April 1st. JMP Securities reaffirmed a “market outperform” rating and issued a $11.00 price objective on shares of Rithm Capital in a report on Thursday, April 18th. B. Riley reaffirmed a “buy” rating and issued a $14.00 price objective (up from $13.00) on shares of Rithm Capital in a report on Friday, May 10th. Wedbush reaffirmed an “outperform” rating and issued a $13.00 price objective on shares of Rithm Capital in a report on Thursday, May 9th. Finally, Keefe, Bruyette & Woods raised 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, May 2nd. One analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $12.32.

Read Our Latest Report on RITM

Rithm Capital Stock Performance

Rithm Capital stock opened at $10.60 on Tuesday. The firm’s fifty day moving average price is $11.10 and its 200-day moving average price is $10.90. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.29 and a current ratio of 0.29. The stock has a market cap of $5.12 billion, a P/E ratio of 7.07 and a beta of 1.82. Rithm Capital Corp. has a fifty-two week low of $8.87 and a fifty-two week high of $11.60.

Rithm Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Monday, July 1st will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 9.43%. The ex-dividend date is Monday, July 1st. 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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