Graham Capital Management L.P. Purchases New Shares in Rithm Capital Corp. (NYSE:RITM)

Graham Capital Management L.P. bought a new stake in shares of Rithm Capital Corp. (NYSE:RITM - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 192,368 shares of the real estate investment trust's stock, valued at approximately $2,083,000.

A number of other institutional investors have also recently made changes to their positions in RITM. Vanguard Group Inc. boosted its holdings in Rithm Capital by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 49,008,422 shares of the real estate investment trust's stock valued at $530,761,000 after purchasing an additional 184,802 shares in the last quarter. Geode Capital Management LLC lifted its position in Rithm Capital by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 8,494,199 shares of the real estate investment trust's stock valued at $92,021,000 after purchasing an additional 79,142 shares during the period. Norges Bank acquired a new position in Rithm Capital during the fourth quarter worth $76,082,000. Balyasny Asset Management L.P. lifted its stake in shares of Rithm Capital by 48.6% in the fourth quarter. Balyasny Asset Management L.P. now owns 6,535,525 shares of the real estate investment trust's stock valued at $70,780,000 after purchasing an additional 2,136,342 shares during the period. Finally, Wellington Management Group LLP grew its holdings in shares of Rithm Capital by 0.9% in the 4th quarter. Wellington Management Group LLP now owns 3,600,461 shares of the real estate investment trust's stock worth $38,993,000 after acquiring an additional 32,544 shares during the period. Institutional investors and hedge funds own 44.92% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. JMP Securities reaffirmed a "market outperform" rating and set a $12.50 price objective on shares of Rithm Capital in a research note on Thursday, January 23rd. UBS Group decreased their price target on shares of Rithm Capital from $14.00 to $13.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. Wedbush restated an "outperform" rating and issued a $14.00 target price on shares of Rithm Capital in a research note on Friday, March 28th. Piper Sandler raised shares of Rithm Capital from a "neutral" rating to an "overweight" rating and raised their price target for the stock from $12.50 to $14.00 in a research report on Monday, April 28th. Finally, Jones Trading reiterated a "buy" rating and issued a $12.50 target price on shares of Rithm Capital in a research report on Tuesday, April 29th. Eight investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Buy" and an average price target of $13.56.

Rithm Capital Stock Performance

NYSE RITM traded up $0.06 during trading on Thursday, hitting $11.60. The company's stock had a trading volume of 4,503,362 shares, compared to its average volume of 3,983,904. The company has a quick ratio of 1.35, a current ratio of 1.09 and a debt-to-equity ratio of 1.74. Rithm Capital Corp. has a 52 week low of $9.13 and a 52 week high of $12.20. The firm has a 50 day moving average price of $10.98 and a 200 day moving average price of $11.13. The firm has a market cap of $6.15 billion, a P/E ratio of 6.95 and a beta of 1.32.

Rithm Capital (NYSE:RITM - Get Free Report) last announced its quarterly earnings results on Friday, April 25th. The real estate investment trust reported $0.52 earnings per share for the quarter, beating analysts' consensus estimates of $0.45 by $0.07. The firm had revenue of $28.89 million for the quarter, compared to analysts' expectations 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 in the prior year, the business posted $0.48 earnings per share. Equities research analysts forecast that Rithm Capital Corp. will post 1.93 earnings per share for the current fiscal year.

Rithm Capital Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 8.62%. The ex-dividend date was Monday, March 31st. Rithm Capital's dividend payout ratio is 83.33%.

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.