Rithm Capital Corp. (NYSE:RITM) Position Increased by Family Management Corp

Family Management Corp increased its holdings in shares of Rithm Capital Corp. (NYSE:RITM - Free Report) by 78.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 191,380 shares of the real estate investment trust's stock after purchasing an additional 84,378 shares during the quarter. Family Management Corp's holdings in Rithm Capital were worth $2,073,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Coastal Bridge Advisors LLC purchased a new position in shares of Rithm Capital in the fourth quarter valued at $123,000. D. E. Shaw & Co. Inc. grew its stake in shares of Rithm Capital by 18.0% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 1,215,667 shares of the real estate investment trust's stock valued at $13,166,000 after acquiring an additional 185,476 shares in the last quarter. Corton Capital Inc. purchased a new stake in shares of Rithm Capital during the fourth quarter worth about $165,000. Crestline Management LP lifted its stake in shares of Rithm Capital by 53.1% in the fourth quarter. Crestline Management LP now owns 55,230 shares of the real estate investment trust's stock worth $598,000 after acquiring an additional 19,149 shares in the last quarter. Finally, Cetera Investment Advisers boosted its holdings in Rithm Capital by 3.7% in the fourth quarter. Cetera Investment Advisers now owns 277,531 shares of the real estate investment trust's stock valued at $3,006,000 after purchasing an additional 9,936 shares during the last quarter. 44.92% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Wedbush reiterated an "outperform" rating and set a $14.00 target price on shares of Rithm Capital in a research note on Friday, March 28th. UBS Group dropped their target price on shares of Rithm Capital from $14.00 to $13.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. BTIG Research reaffirmed a "buy" rating and set a $16.00 price objective on shares of Rithm Capital in a research report on Friday, April 25th. Piper Sandler raised shares of Rithm Capital from a "neutral" rating to an "overweight" rating and raised their target price for the stock from $12.50 to $14.00 in a report on Monday, April 28th. Finally, 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. 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. Based on data from MarketBeat.com, the company presently has an average rating of "Buy" and an average price target of $13.61.

Rithm Capital Price Performance

Shares of NYSE RITM traded down $0.05 during mid-day trading on Friday, reaching $11.23. 4,337,137 shares of the company traded hands, compared to its average volume of 3,967,036. Rithm Capital Corp. has a fifty-two week low of $9.13 and a fifty-two week high of $12.20. The firm has a market cap of $5.96 billion, a PE ratio of 6.72 and a beta of 1.32. The stock has a fifty day simple moving average of $10.99 and a 200-day simple moving average of $11.12. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.09 and a quick ratio of 1.35.

Rithm Capital (NYSE:RITM - Get Free Report) last posted its quarterly earnings data on Friday, April 25th. The real estate investment trust reported $0.52 EPS for the quarter, topping analysts' consensus estimates of $0.45 by $0.07. The company had revenue of $28.89 million for 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 quarter in the previous year, the business earned $0.48 EPS. Equities research analysts anticipate that Rithm Capital Corp. will post 1.93 EPS for the current fiscal year.

Rithm Capital Dividend Announcement

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. The ex-dividend date of this dividend was Monday, March 31st. This represents a $1.00 annualized dividend and a yield of 8.90%. Rithm Capital's dividend payout ratio (DPR) 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.