Ameriprise Financial Inc. Grows Position in Rithm Capital Corp. (NYSE:RITM)

Ameriprise Financial Inc. grew its stake in shares of Rithm Capital Corp. (NYSE:RITM) by 7.6% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 803,233 shares of the real estate investment trust’s stock after buying an additional 56,992 shares during the period. Ameriprise Financial Inc. owned 0.15% of Rithm Capital worth $8,702,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Barclays PLC boosted its holdings in shares of Rithm Capital by 1.2% during the fourth quarter. Barclays PLC now owns 219,670 shares of the real estate investment trust’s stock worth $2,379,000 after purchasing an additional 2,701 shares during the last quarter. Wedbush Securities Inc. boosted its holdings in shares of Rithm Capital by 13.7% during the fourth quarter. Wedbush Securities Inc. now owns 231,682 shares of the real estate investment trust’s stock worth $2,509,000 after purchasing an additional 27,924 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Rithm Capital by 9.1% during the fourth quarter. Bank of New York Mellon Corp now owns 1,916,453 shares of the real estate investment trust’s stock worth $20,755,000 after purchasing an additional 159,506 shares during the last quarter. EMC Capital Management boosted its holdings in shares of Rithm Capital by 1,349.0% during the fourth quarter. EMC Capital Management now owns 35,371 shares of the real estate investment trust’s stock worth $383,000 after purchasing an additional 32,930 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in shares of Rithm Capital by 0.4% during the fourth quarter. Vanguard Group Inc. now owns 49,008,422 shares of the real estate investment trust’s stock worth $530,761,000 after purchasing an additional 184,802 shares during the last quarter. Hedge funds and other institutional investors own 44.92% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on RITM shares. Wedbush reiterated an “outperform” rating and issued a $14.00 target price on shares of Rithm Capital in a report on Monday. BTIG Research reiterated a “buy” rating and issued a $16.00 target price on shares of Rithm Capital in a report on Friday, April 25th. UBS Group reduced their target price on Rithm Capital from $14.00 to $13.00 and set a “buy” rating on the stock in a report on Wednesday, April 16th. Piper Sandler upgraded Rithm Capital from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $12.50 to $14.00 in a report on Monday, April 28th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $12.50 target price on shares of Rithm Capital in a report on Thursday, January 23rd. Eight equities research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Rithm Capital has a consensus rating of “Buy” and an average target price of $13.56.

Rithm Capital Price Performance

Shares of NYSE:RITM opened at $11.56 on Wednesday. Rithm Capital Corp. has a one year low of $9.13 and a one year high of $12.20. The stock has a fifty day moving average of $10.99 and a 200-day moving average of $11.16. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.35 and a current ratio of 1.09. The company has a market capitalization of $6.13 billion, a PE ratio of 6.92 and a beta of 1.32.

Rithm Capital (NYSE:RITM) last posted its quarterly earnings results on Friday, April 25th. The real estate investment trust reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.07. The company had revenue of $28.89 million during the quarter, compared to the consensus estimate of $1.27 billion. Rithm Capital had a return on equity of 18.15% and a net margin of 17.79%. During the same period last year, the business earned $0.48 EPS. As a group, equities analysts anticipate that Rithm Capital Corp. will post 1.93 EPS for the current fiscal year.

Rithm Capital Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 8.65%. The ex-dividend date of this dividend was Monday, March 31st. Rithm Capital’s dividend payout ratio (DPR) is currently 83.33%.

Rithm Capital Company 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.