Dark Forest Capital Management LP decreased its stake in Rithm Capital Corp. (NYSE:RITM - Free Report) by 58.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 99,982 shares of the real estate investment trust's stock after selling 138,176 shares during the quarter. Dark Forest Capital Management LP's holdings in Rithm Capital were worth $1,083,000 at the end of the most recent quarter.
A number of other institutional investors also recently modified their holdings of the stock. Wilmington Savings Fund Society FSB bought a new position in shares of Rithm Capital during the 3rd quarter valued at $43,000. Householder Group Estate & Retirement Specialist LLC raised its holdings in Rithm Capital by 86.7% during the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 4,439 shares of the real estate investment trust's stock valued at $48,000 after buying an additional 2,062 shares in the last quarter. Quadrant Capital Group LLC lifted its position in shares of Rithm Capital by 35.2% in the fourth quarter. Quadrant Capital Group LLC now owns 4,655 shares of the real estate investment trust's stock worth $50,000 after buying an additional 1,211 shares during the last quarter. C M Bidwell & Associates Ltd. bought a new stake in shares of Rithm Capital during the 4th quarter worth about $81,000. Finally, FNY Investment Advisers LLC increased its holdings in shares of Rithm Capital by 8,600.0% during the 4th quarter. FNY Investment Advisers LLC now owns 8,700 shares of the real estate investment trust's stock valued at $94,000 after acquiring an additional 8,600 shares during the last quarter. Institutional investors and hedge funds own 44.92% of the company's stock.
Analysts Set New Price Targets
A number of equities research analysts have issued reports on RITM shares. UBS Group decreased their target price on Rithm Capital from $14.00 to $13.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. Piper Sandler upgraded shares of Rithm Capital from a "neutral" rating to an "overweight" rating and raised their target price for the company from $12.50 to $14.00 in a research note on Monday. Jones Trading reissued a "buy" rating and set a $12.50 target price on shares of Rithm Capital in a research report on Tuesday. BTIG Research restated a "buy" rating and set a $16.00 price target on shares of Rithm Capital in a report on Friday. Finally, Wedbush reiterated an "outperform" rating and issued a $14.00 price objective on shares of Rithm Capital in a research note on Friday, March 28th. Eight equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Buy" and an average price target of $13.61.
Get Our Latest Analysis on RITM
Rithm Capital Stock Performance
Shares of RITM traded up $0.18 during trading hours on Tuesday, reaching $11.15. 1,735,526 shares of the company traded hands, compared to its average volume of 3,913,367. The stock has a market cap of $5.91 billion, a P/E ratio of 6.67 and a beta of 1.36. Rithm Capital Corp. has a 1-year low of $9.13 and a 1-year high of $12.20. The stock's fifty day moving average is $11.12 and its 200 day moving average is $11.09. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.35 and a current ratio of 1.09.
Rithm Capital (NYSE:RITM - Get Free Report) last announced its earnings results on Friday, April 25th. The real estate investment trust reported $0.52 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.45 by $0.07. The business had revenue of $28.89 million during the quarter, compared to analysts' expectations 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 company posted $0.48 EPS. Equities research analysts anticipate that Rithm Capital Corp. will post 1.93 earnings per share for the current fiscal year.
Rithm Capital Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be given a $0.25 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.00 dividend on an annualized basis and a yield of 8.97%. Rithm Capital's payout ratio is 83.33%.
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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