Wellington Management Group LLP Grows Stock Position in Rithm Capital Corp. (NYSE:RITM)

Wellington Management Group LLP boosted its holdings in shares of Rithm Capital Corp. (NYSE:RITM - Free Report) by 0.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,600,461 shares of the real estate investment trust's stock after purchasing an additional 32,544 shares during the quarter. Wellington Management Group LLP owned approximately 0.69% of Rithm Capital worth $38,993,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of RITM. Vanguard Group Inc. lifted its position in Rithm Capital by 0.4% during 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 buying an additional 184,802 shares in the last quarter. Geode Capital Management LLC lifted its position in Rithm Capital by 0.9% during 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 buying an additional 79,142 shares in the last quarter. Norges Bank purchased a new position in Rithm Capital during the fourth quarter worth approximately $76,082,000. Balyasny Asset Management L.P. lifted its position in Rithm Capital by 48.6% during 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 buying an additional 2,136,342 shares in the last quarter. Finally, First Trust Advisors LP lifted its position in Rithm Capital by 78.3% during the fourth quarter. First Trust Advisors LP now owns 3,304,999 shares of the real estate investment trust's stock worth $35,793,000 after buying an additional 1,451,829 shares in the last quarter. Hedge funds and other institutional investors own 44.92% of the company's stock.

Wall Street Analyst Weigh In

RITM has been the subject of several recent analyst reports. Wedbush reissued an "outperform" rating and set a $14.00 target price on shares of Rithm Capital in a research note on Monday, May 19th. BTIG Research reissued a "buy" rating and set a $16.00 target price on shares of Rithm Capital in a research note on Friday, April 25th. Royal Bank of Canada reissued an "outperform" rating and set a $13.00 target price on shares of Rithm Capital in a research note on Tuesday, May 20th. Jones Trading reissued a "buy" rating and set a $12.50 target price on shares of Rithm Capital in a research note 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 for the company in a research note on Wednesday, April 16th. Eight analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Buy" and an average price target of $13.56.

Rithm Capital Trading Down 0.4%

Shares of NYSE RITM traded down $0.04 during trading on Wednesday, reaching $11.20. The stock had a trading volume of 1,551,350 shares, compared to its average volume of 4,026,847. Rithm Capital Corp. has a fifty-two week low of $9.13 and a fifty-two week high of $12.20. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.35 and a current ratio of 1.09. The business's 50-day moving average price is $10.88 and its 200-day moving average price is $11.20. The company has a market cap of $5.94 billion, a P/E ratio of 6.71 and a beta of 1.32.

Rithm Capital (NYSE:RITM - Get Free Report) last issued its quarterly earnings data 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 business had revenue of $28.89 million during 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 previous year, the firm posted $0.48 earnings per share. On average, equities research 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. Investors of record on Monday, March 31st were issued a $0.25 dividend. The ex-dividend date was Monday, March 31st. This represents a $1.00 dividend on an annualized basis and a yield of 8.93%. Rithm Capital's dividend payout ratio (DPR) is presently 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.