Oppenheimer & Co. Inc. Buys 327,878 Shares of Rithm Capital Corp. (NYSE:RITM)

Oppenheimer & Co. Inc. grew its position in shares of Rithm Capital Corp. (NYSE:RITM - Free Report) by 1,146.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 356,485 shares of the real estate investment trust's stock after buying an additional 327,878 shares during the quarter. Oppenheimer & Co. Inc. owned 0.07% of Rithm Capital worth $4,082,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of RITM. Vanguard Group Inc. raised its position in Rithm Capital by 0.4% in 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 acquiring an additional 184,802 shares during the period. Geode Capital Management LLC increased its stake in shares of Rithm Capital by 0.9% in 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 in the last quarter. Norges Bank bought a new position in Rithm Capital in the 4th quarter worth $76,082,000. Balyasny Asset Management L.P. lifted its position in Rithm Capital by 48.6% during the fourth quarter. Balyasny Asset Management L.P. now owns 6,535,525 shares of the real estate investment trust's stock valued at $70,780,000 after purchasing an additional 2,136,342 shares in the last quarter. Finally, Wellington Management Group LLP lifted its position in Rithm Capital by 0.9% during the fourth quarter. Wellington Management Group LLP now owns 3,600,461 shares of the real estate investment trust's stock valued at $38,993,000 after purchasing an additional 32,544 shares in the last quarter. 44.92% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have weighed in on RITM shares. Jones Trading reaffirmed a "buy" rating and set a $12.50 price target on shares of Rithm Capital in a report on Tuesday, April 29th. Wedbush restated an "outperform" rating and set a $14.00 target price on shares of Rithm Capital in a research note on Monday, May 19th. Piper Sandler upgraded Rithm Capital from a "neutral" rating to an "overweight" rating and increased their price target for the stock from $12.50 to $14.00 in a research note on Monday, April 28th. Royal Bank Of Canada reissued an "outperform" rating and set a $13.00 price target on shares of Rithm Capital in a report on Tuesday, May 20th. Finally, UBS Group lowered their price target on Rithm Capital from $14.00 to $13.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and an average target price of $13.56.

Rithm Capital Stock Performance

NYSE:RITM opened at $11.25 on Thursday. The company has a market cap of $5.96 billion, a price-to-earnings ratio of 9.38 and a beta of 1.26. Rithm Capital Corp. has a 1 year low of $9.13 and a 1 year high of $12.20. The stock's 50 day simple moving average is $11.14 and its two-hundred day simple moving average is $11.22. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.35 and a quick ratio of 0.35.

Rithm Capital (NYSE:RITM - Get Free Report) last announced its quarterly earnings results on Friday, April 25th. The real estate investment trust reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.07. Rithm Capital had a net margin of 15.06% and a return on equity of 18.38%. The company had revenue of $28.89 million for the quarter, compared to analysts' expectations of $1.27 billion. During the same quarter in the previous year, the business posted $0.48 earnings per share. As a group, equities analysts anticipate that Rithm Capital Corp. will post 1.93 earnings per share for the current fiscal year.

Rithm Capital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 8.89%. The ex-dividend date of this dividend is Monday, June 30th. Rithm Capital's dividend payout ratio 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.

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