California State Teachers Retirement System Boosts Stock Position in Rithm Capital Corp. (NYSE:RITM)

California State Teachers Retirement System increased its holdings in shares of Rithm Capital Corp. (NYSE:RITM - Free Report) by 5.3% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 486,434 shares of the real estate investment trust's stock after buying an additional 24,542 shares during the quarter. California State Teachers Retirement System owned 0.09% of Rithm Capital worth $5,268,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Wealth Enhancement Advisory Services LLC raised its position in shares of Rithm Capital by 830.3% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 168,999 shares of the real estate investment trust's stock worth $1,830,000 after acquiring an additional 150,832 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in Rithm Capital in the 4th quarter valued at $4,528,000. AlphaCore Capital LLC increased its stake in Rithm Capital by 5.0% during the 4th quarter. AlphaCore Capital LLC now owns 31,500 shares of the real estate investment trust's stock valued at $341,000 after purchasing an additional 1,500 shares in the last quarter. Neo Ivy Capital Management raised its holdings in shares of Rithm Capital by 59.4% in the 4th quarter. Neo Ivy Capital Management now owns 207,258 shares of the real estate investment trust's stock worth $2,244,000 after acquiring an additional 77,204 shares during the last quarter. Finally, PharVision Advisers LLC purchased a new stake in shares of Rithm Capital in the fourth quarter worth approximately $127,000. 44.92% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Royal Bank of Canada reiterated an "outperform" rating and issued a $13.00 price objective on shares of Rithm Capital in a research note on Tuesday, May 20th. UBS Group lowered their price target 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. Wedbush reissued an "outperform" rating and set a $14.00 price objective on shares of Rithm Capital in a report on Monday, May 19th. BTIG Research restated a "buy" rating and issued a $16.00 target price on shares of Rithm Capital in a research note on Friday, April 25th. Finally, Piper Sandler raised 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 report on Monday, April 28th. Eight equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $13.56.

Rithm Capital Price Performance

NYSE RITM traded up $0.02 during trading on Thursday, hitting $11.23. 2,790,484 shares of the stock traded hands, compared to its average volume of 4,565,627. 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 12-month low of $9.13 and a 12-month high of $12.19. The firm has a 50-day simple moving average of $10.88 and a 200-day simple moving average of $11.20. The company has a market capitalization of $5.95 billion, a P/E ratio of 6.72 and a beta of 1.32.

Rithm Capital (NYSE:RITM - Get Free Report) last posted its quarterly earnings results 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. Rithm Capital had a net margin of 17.79% and a return on equity of 18.15%. The firm had revenue of $28.89 million for the quarter, compared to analysts' expectations of $1.27 billion. During the same period in the prior year, the business posted $0.48 earnings per share. As a group, analysts predict that Rithm Capital Corp. will post 1.93 EPS for the current year.

Rithm Capital Dividend Announcement

The business also recently disclosed 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. The ex-dividend date was Monday, March 31st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.91%. Rithm Capital's payout ratio 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.