Rithm Capital Corp. (NYSE:RITM) Shares Bought by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC lifted its holdings in Rithm Capital Corp. (NYSE:RITM - Free Report) by 830.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 168,999 shares of the real estate investment trust's stock after purchasing an additional 150,832 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Rithm Capital were worth $1,830,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of 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 in the last quarter. Geode Capital Management LLC increased its position in shares of Rithm Capital by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 8,494,199 shares of the real estate investment trust's stock worth $92,021,000 after acquiring an additional 79,142 shares in the last quarter. Norges Bank purchased a new position in shares of Rithm Capital in the fourth quarter worth approximately $76,082,000. Balyasny Asset Management L.P. increased its position in shares of Rithm Capital by 48.6% in the fourth quarter. Balyasny Asset Management L.P. now owns 6,535,525 shares of the real estate investment trust's stock worth $70,780,000 after acquiring an additional 2,136,342 shares in the last quarter. Finally, Wellington Management Group LLP increased its position in shares of Rithm Capital by 0.9% in the fourth quarter. Wellington Management Group LLP now owns 3,600,461 shares of the real estate investment trust's stock worth $38,993,000 after acquiring an additional 32,544 shares in the last quarter. Institutional investors and hedge funds own 44.92% of the company's stock.

Rithm Capital Price Performance

NYSE RITM opened at $11.33 on Friday. The company has a quick ratio of 1.35, a current ratio of 1.09 and a debt-to-equity ratio of 1.74. The stock has a market capitalization of $6.00 billion, a PE ratio of 6.78 and a beta of 1.26. The company has a 50 day moving average price of $10.87 and a two-hundred day moving average price of $11.21. 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 posted its earnings results on Friday, April 25th. The real estate investment trust reported $0.52 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.45 by $0.07. The firm had revenue of $28.89 million during the quarter, compared to analysts' expectations of $1.27 billion. Rithm Capital had a net margin of 17.79% and a return on equity of 18.15%. During the same period in the previous year, the company earned $0.48 earnings per share. As a group, equities analysts predict that Rithm Capital Corp. will post 1.93 earnings per share for the current fiscal year.

Rithm Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 8.83%. The ex-dividend date was Monday, March 31st. Rithm Capital's dividend payout ratio (DPR) is presently 83.33%.

Analyst Ratings Changes

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

About Rithm Capital

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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