Royal Bank of Canada Grows Stock Position in Rithm Capital Corp. (NYSE:RITM)

Royal Bank of Canada raised its position in Rithm Capital Corp. (NYSE:RITM - Free Report) by 4.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,689,711 shares of the real estate investment trust's stock after acquiring an additional 78,787 shares during the quarter. Royal Bank of Canada owned approximately 0.33% of Rithm Capital worth $18,301,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. HB Wealth Management LLC increased its holdings in shares of Rithm Capital by 10.4% in the 4th quarter. HB Wealth Management LLC now owns 15,024 shares of the real estate investment trust's stock valued at $163,000 after acquiring an additional 1,411 shares during the period. Mutual Advisors LLC acquired a new stake in Rithm Capital in the 4th quarter valued at about $169,000. PFG Investments LLC grew its stake in Rithm Capital by 44.5% in the 4th quarter. PFG Investments LLC now owns 94,335 shares of the real estate investment trust's stock valued at $1,022,000 after acquiring an additional 29,073 shares during the last quarter. Register Financial Advisors LLC boosted its stake in shares of Rithm Capital by 37.5% during the 4th quarter. Register Financial Advisors LLC now owns 13,577 shares of the real estate investment trust's stock worth $147,000 after purchasing an additional 3,700 shares during the last quarter. Finally, KBC Group NV boosted its stake in shares of Rithm Capital by 59.5% during the 4th quarter. KBC Group NV now owns 18,423 shares of the real estate investment trust's stock worth $200,000 after purchasing an additional 6,872 shares during the last quarter. Hedge funds and other institutional investors own 44.92% of the company's stock.

Analysts Set New Price Targets

Several research analysts recently commented on RITM shares. Royal Bank of Canada restated an "outperform" rating and issued a $13.00 price target on shares of Rithm Capital in a report on Tuesday, May 20th. BTIG Research reissued a "buy" rating and set a $16.00 price target on shares of Rithm Capital in a research report on Friday, April 25th. Wedbush reaffirmed an "outperform" rating and issued a $14.00 price objective on shares of Rithm Capital in a report on Monday, May 19th. Jones Trading reaffirmed a "buy" rating and issued a $12.50 price objective on shares of Rithm Capital in a report on Tuesday, April 29th. Finally, UBS Group cut their target price on Rithm Capital from $14.00 to $13.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. Eight investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, Rithm Capital has a consensus rating of "Buy" and an average target price of $13.56.

Rithm Capital Stock Performance

Shares of RITM stock traded up $0.12 during trading hours on Thursday, reaching $11.27. 2,381,272 shares of the company's stock were exchanged, compared to its average volume of 4,025,211. The business has a fifty day moving average price of $10.93 and a 200-day moving average price of $11.18. 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 $5.97 billion, a P/E ratio of 6.75 and a beta of 1.32. Rithm Capital Corp. has a fifty-two week low of $9.13 and a fifty-two week high of $12.20.

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, beating analysts' consensus estimates of $0.45 by $0.07. The firm had revenue of $28.89 million for the quarter, compared to analysts' expectations of $1.27 billion. Rithm Capital had a return on equity of 18.15% and a net margin of 17.79%. During the same period in the prior year, the business posted $0.48 earnings per share. Analysts predict that Rithm Capital Corp. will post 1.93 EPS for the current fiscal year.

Rithm Capital Dividend Announcement

The business 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 annualized dividend and a yield of 8.88%. The ex-dividend date of this dividend was Monday, March 31st. Rithm Capital's payout ratio is 83.33%.

Rithm Capital Company 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.