Mackenzie Financial Corp trimmed its position in Rithm Capital Corp. (NYSE:RITM - Free Report) by 20.3% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 701,302 shares of the real estate investment trust's stock after selling 179,160 shares during the period. Mackenzie Financial Corp owned 0.13% of Rithm Capital worth $7,595,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of RITM. Mutual Advisors LLC acquired a new position in Rithm Capital in the fourth quarter worth about $169,000. PFG Investments LLC grew its stake in Rithm Capital by 44.5% in the fourth quarter. PFG Investments LLC now owns 94,335 shares of the real estate investment trust's stock worth $1,022,000 after purchasing an additional 29,073 shares in the last quarter. Register Financial Advisors LLC boosted its stake in Rithm Capital by 37.5% in the fourth quarter. Register Financial Advisors LLC now owns 13,577 shares of the real estate investment trust's stock valued at $147,000 after acquiring an additional 3,700 shares during the period. KBC Group NV boosted its stake in Rithm Capital by 59.5% in the fourth quarter. KBC Group NV now owns 18,423 shares of the real estate investment trust's stock valued at $200,000 after acquiring an additional 6,872 shares during the period. Finally, Perigon Wealth Management LLC acquired a new position in Rithm Capital in the fourth quarter valued at approximately $120,000. 44.92% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
RITM has been the subject of a number of research reports. 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. Royal Bank of Canada restated an "outperform" rating and issued a $13.00 target price on shares of Rithm Capital in a research note on Tuesday, May 20th. UBS Group cut 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. Piper Sandler raised 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 report on Monday, April 28th. Finally, Wedbush reaffirmed an "outperform" rating and set a $14.00 price target on shares of Rithm Capital in a report on Monday, May 19th. Eight investment 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 has a consensus rating of "Buy" and a consensus price target of $13.56.
View Our Latest Research Report on Rithm Capital
Rithm Capital Price Performance
NYSE:RITM traded down $0.15 during midday trading on Friday, hitting $11.14. 6,081,719 shares of the stock were exchanged, compared to its average volume of 4,029,260. Rithm Capital Corp. has a one year low of $9.13 and a one year high of $12.20. The company has a market capitalization of $5.91 billion, a price-to-earnings ratio of 6.67 and a beta of 1.32. The business has a 50-day moving average price of $10.90 and a two-hundred day moving average price of $11.20. The company has a current ratio of 1.09, a quick ratio of 1.35 and a debt-to-equity ratio of 1.74.
Rithm Capital (NYSE:RITM - Get Free Report) last announced its earnings results on Friday, April 25th. The real estate investment trust reported $0.52 EPS for the quarter, topping the consensus estimate of $0.45 by $0.07. Rithm Capital had a return on equity of 18.15% and a net margin of 17.79%. The firm 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 company earned $0.48 earnings per share. Sell-side analysts predict that Rithm Capital Corp. will post 1.93 EPS for the current year.
Rithm Capital Dividend Announcement
The company also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Monday, March 31st were issued a dividend of $0.25 per share. The ex-dividend date was Monday, March 31st. This represents a $1.00 annualized dividend and a yield of 8.98%. Rithm Capital's payout ratio is 83.33%.
Rithm Capital Profile
(
Free Report)
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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