Prevail Innovative Wealth Advisors LLC Buys New Shares in Rithm Capital Corp. (NYSE:RITM)

Prevail Innovative Wealth Advisors LLC purchased a new position in Rithm Capital Corp. (NYSE:RITM - Free Report) during the 1st quarter, according to its most recent disclosure with the SEC. The fund purchased 150,651 shares of the real estate investment trust's stock, valued at approximately $1,725,000.

Other institutional investors also recently added to or reduced their stakes in the company. 1620 Investment Advisors Inc. lifted its position in Rithm Capital by 2.1% in the fourth quarter. 1620 Investment Advisors Inc. now owns 46,035 shares of the real estate investment trust's stock worth $499,000 after purchasing an additional 960 shares during the period. Fourth Dimension Wealth LLC lifted its holdings in shares of Rithm Capital by 50.0% during the 1st quarter. Fourth Dimension Wealth LLC now owns 3,000 shares of the real estate investment trust's stock worth $34,000 after acquiring an additional 1,000 shares during the period. Vident Advisory LLC boosted its position in shares of Rithm Capital by 7.3% during the 4th quarter. Vident Advisory LLC now owns 15,509 shares of the real estate investment trust's stock valued at $168,000 after acquiring an additional 1,051 shares in the last quarter. Sowell Financial Services LLC boosted its position in shares of Rithm Capital by 3.2% during the 1st quarter. Sowell Financial Services LLC now owns 35,680 shares of the real estate investment trust's stock valued at $409,000 after acquiring an additional 1,108 shares in the last quarter. Finally, Quadrant Capital Group LLC increased its stake in 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 valued at $50,000 after acquiring an additional 1,211 shares during the period. 44.92% of the stock is owned by institutional investors.

Rithm Capital Price Performance

Shares of NYSE RITM traded down $0.03 during trading on Tuesday, reaching $11.71. The company had a trading volume of 4,898,160 shares, compared to its average volume of 4,174,281. Rithm Capital Corp. has a 52 week low of $9.13 and a 52 week high of $12.20. The business's 50 day moving average price is $11.37 and its 200-day moving average price is $11.28. The stock has a market cap of $6.21 billion, a PE ratio of 9.75 and a beta of 1.25. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.35 and a current ratio of 0.35.

Rithm Capital (NYSE:RITM - Get Free Report) last announced its quarterly earnings data on Friday, April 25th. The real estate investment trust reported $0.52 EPS for the quarter, beating analysts' consensus estimates of $0.45 by $0.07. Rithm Capital had a return on equity of 18.38% and a net margin of 15.06%. The firm had revenue of $28.89 million for the quarter, compared to analyst estimates of $1.27 billion. During the same period last year, the company earned $0.48 EPS. Analysts expect that Rithm Capital Corp. will post 1.93 earnings per share for the current year.

Rithm Capital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be paid a $0.25 dividend. The ex-dividend date is Monday, June 30th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.54%. Rithm Capital's dividend payout ratio (DPR) is presently 83.33%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on RITM shares. Wedbush reaffirmed an "outperform" rating and set a $14.00 price objective on shares of Rithm Capital in a report on Monday, May 19th. UBS Group reaffirmed a "buy" rating and issued a $14.00 price target (up previously from $13.00) on shares of Rithm Capital in a research note on Tuesday. BTIG Research reissued a "buy" rating and set a $16.00 price objective on shares of Rithm Capital in a report on Friday, April 25th. Piper Sandler raised shares of Rithm Capital from a "neutral" rating to an "overweight" rating and upped their target price for the stock from $12.50 to $14.00 in a report on Monday, April 28th. Finally, 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. Eight analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus price target of $13.69.

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.