Azora Capital LP Sells 201,041 Shares of Rithm Capital Corp. (NYSE:RITM)

Azora Capital LP lessened its position in Rithm Capital Corp. (NYSE:RITM - Free Report) by 4.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,182,780 shares of the real estate investment trust's stock after selling 201,041 shares during the period. Rithm Capital comprises about 2.0% of Azora Capital LP's portfolio, making the stock its 17th largest holding. Azora Capital LP owned 0.80% of Rithm Capital worth $45,300,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of RITM. Vanguard Group Inc. boosted its position in 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 period. Geode Capital Management LLC lifted its holdings in Rithm Capital by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 8,494,199 shares of the real estate investment trust's stock worth $92,021,000 after purchasing an additional 79,142 shares during the last quarter. Norges Bank bought a new stake in Rithm Capital in the 4th quarter valued at $76,082,000. Balyasny Asset Management L.P. increased its position in Rithm Capital by 48.6% during the 4th quarter. Balyasny Asset Management L.P. now owns 6,535,525 shares of the real estate investment trust's stock worth $70,780,000 after buying an additional 2,136,342 shares during the period. Finally, JPMorgan Chase & Co. lifted its holdings in shares of Rithm Capital by 119.1% during the third quarter. JPMorgan Chase & Co. now owns 4,608,008 shares of the real estate investment trust's stock worth $52,301,000 after buying an additional 2,504,529 shares in the last quarter. 44.92% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on RITM shares. Piper Sandler upgraded shares of Rithm Capital from a "neutral" rating to an "overweight" rating and upped their price target for the company from $12.50 to $14.00 in a research note on Monday, April 28th. Jones Trading reaffirmed a "buy" rating and set a $12.50 target price on shares of Rithm Capital in a report on Tuesday, April 29th. UBS Group dropped 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. JMP Securities reissued a "market outperform" rating and set a $12.50 price target on shares of Rithm Capital in a research report on Thursday, January 23rd. Finally, BTIG Research reaffirmed a "buy" rating and issued a $16.00 price objective on shares of Rithm Capital in a report on Friday, April 25th. Eight research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus target price of $13.61.

Rithm Capital Price Performance

Shares of RITM stock traded up $0.02 during trading hours on Friday, reaching $11.30. The company's stock had a trading volume of 3,071,553 shares, compared to its average volume of 3,950,374. Rithm Capital Corp. has a fifty-two week low of $9.13 and a fifty-two week high of $12.20. The firm's 50 day simple moving average is $11.00 and its 200-day simple moving average is $11.11. The company has a quick ratio of 1.35, a current ratio of 1.09 and a debt-to-equity ratio of 1.74. The company has a market capitalization of $5.99 billion, a price-to-earnings ratio of 6.77 and a beta of 1.32.

Rithm Capital (NYSE:RITM - Get Free Report) last issued its 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 analyst estimates of $1.27 billion. Rithm Capital had a net margin of 17.79% and a return on equity of 18.15%. During the same quarter last year, the business posted $0.48 earnings per share. Sell-side analysts forecast that Rithm Capital Corp. will post 1.93 earnings per share for the current year.

Rithm Capital Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 8.85%. The ex-dividend date was Monday, March 31st. Rithm Capital's dividend payout ratio (DPR) is currently 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.