Ameriprise Financial Inc. Purchases 56,992 Shares of Rithm Capital Corp. (NYSE:RITM)

Ameriprise Financial Inc. boosted its position in Rithm Capital Corp. (NYSE:RITM - Free Report) by 7.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 803,233 shares of the real estate investment trust's stock after buying an additional 56,992 shares during the quarter. Ameriprise Financial Inc. owned approximately 0.15% of Rithm Capital worth $8,702,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the company. Norges Bank purchased a new position in shares of Rithm Capital in the fourth quarter valued at $76,082,000. First Trust Advisors LP grew its position in shares of Rithm Capital by 78.3% in the fourth quarter. First Trust Advisors LP now owns 3,304,999 shares of the real estate investment trust's stock valued at $35,793,000 after purchasing an additional 1,451,829 shares in the last quarter. Wells Fargo & Company MN grew its position in shares of Rithm Capital by 113.9% in the fourth quarter. Wells Fargo & Company MN now owns 1,464,456 shares of the real estate investment trust's stock valued at $15,860,000 after purchasing an additional 779,771 shares in the last quarter. Northern Trust Corp grew its position in shares of Rithm Capital by 29.6% in the fourth quarter. Northern Trust Corp now owns 3,284,237 shares of the real estate investment trust's stock valued at $35,568,000 after purchasing an additional 750,656 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of Rithm Capital in the fourth quarter valued at $7,572,000. 44.92% of the stock is owned by hedge funds and other institutional investors.

Rithm Capital Price Performance

NYSE:RITM traded down $0.04 during trading hours on Monday, hitting $11.13. 3,195,644 shares of the company's stock traded hands, compared to its average volume of 4,028,768. The firm has a market cap of $5.90 billion, a P/E ratio of 6.67 and a beta of 1.32. Rithm Capital Corp. has a 52 week low of $9.13 and a 52 week high of $12.20. The business's fifty day simple moving average is $10.94 and its two-hundred day simple moving average is $11.18. 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 (NYSE:RITM - Get Free Report) last posted its quarterly earnings data on Friday, April 25th. The real estate investment trust reported $0.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.45 by $0.07. The company had revenue of $28.89 million during the quarter, compared to analyst estimates 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 last year, the company earned $0.48 earnings per share. On average, 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 declared a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 8.98%. The ex-dividend date was Monday, March 31st. Rithm Capital's dividend payout ratio (DPR) is currently 83.33%.

Wall Street Analyst Weigh In

RITM has been the subject of several recent research reports. Piper Sandler upgraded Rithm Capital from a "neutral" rating to an "overweight" rating and lifted their price target for the company from $12.50 to $14.00 in a research report on Monday, April 28th. Wedbush reiterated an "outperform" rating and issued a $14.00 price target on shares of Rithm Capital in a research report on Monday, May 19th. UBS Group reduced their price target 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. Jones Trading reiterated a "buy" rating and issued a $12.50 price target on shares of Rithm Capital in a research report on Tuesday, April 29th. Finally, Royal Bank of Canada reiterated an "outperform" rating and issued a $13.00 price target on shares of Rithm Capital in a research report on Tuesday, May 20th. Eight analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Rithm Capital currently has a consensus rating of "Buy" and an average target price of $13.56.

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.