Mackenzie Financial Corp Sells 179,160 Shares of Rithm Capital Corp. (NYSE:RITM)

Mackenzie Financial Corp lessened its position in shares of Rithm Capital Corp. (NYSE:RITM - Free Report) by 20.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 701,302 shares of the real estate investment trust's stock after selling 179,160 shares during the quarter. Mackenzie Financial Corp owned approximately 0.13% of Rithm Capital worth $7,595,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of RITM. 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 purchasing an additional 77,204 shares during the period. PharVision Advisers LLC acquired a new stake in Rithm Capital during the fourth quarter valued at approximately $127,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Rithm Capital by 17.8% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,381,920 shares of the real estate investment trust's stock worth $14,966,000 after buying an additional 208,875 shares during the last quarter. Vident Advisory LLC lifted its holdings in shares of Rithm Capital by 7.3% in the 4th quarter. Vident Advisory LLC now owns 15,509 shares of the real estate investment trust's stock worth $168,000 after purchasing an additional 1,051 shares during the last quarter. Finally, Tidal Investments LLC boosted its holdings in shares of Rithm Capital by 6.9% during the fourth quarter. Tidal Investments LLC now owns 19,959 shares of the real estate investment trust's stock valued at $216,000 after acquiring an additional 1,282 shares during the period. Hedge funds and other institutional investors own 44.92% of the company's stock.

Wall Street Analysts Forecast Growth

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

Rithm Capital Stock Up 1.1%

Shares of NYSE:RITM traded up $0.12 during midday trading on Thursday, hitting $11.27. The stock had a trading volume of 3,561,063 shares, compared to its average volume of 4,036,752. The business's 50-day simple moving average is $10.91 and its 200-day simple moving average is $11.19. The company has a market cap of $5.98 billion, a P/E ratio of 6.75 and a beta of 1.32. 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 $12.20.

Rithm Capital (NYSE:RITM - Get Free Report) last released 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 return on equity of 18.15% and a net margin of 17.79%. The business had revenue of $28.89 million during the quarter, compared to analysts' expectations of $1.27 billion. During the same period last year, the firm posted $0.48 EPS. On average, sell-side analysts forecast 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. Investors of record on Monday, March 31st were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $1.00 annualized dividend and a dividend yield of 8.87%. 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.