First Trust Advisors LP Buys 1,451,829 Shares of Rithm Capital Corp. (NYSE:RITM)

First Trust Advisors LP increased its position in Rithm Capital Corp. (NYSE:RITM - Free Report) by 78.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,304,999 shares of the real estate investment trust's stock after acquiring an additional 1,451,829 shares during the quarter. First Trust Advisors LP owned about 0.64% of Rithm Capital worth $35,793,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Sanctuary Advisors LLC grew its position in shares of Rithm Capital by 19.3% during the 3rd quarter. Sanctuary Advisors LLC now owns 18,433 shares of the real estate investment trust's stock valued at $202,000 after purchasing an additional 2,988 shares in the last quarter. Wilmington Savings Fund Society FSB purchased a new position in Rithm Capital in the 3rd quarter worth approximately $43,000. Franklin Resources Inc. raised its position in shares of Rithm Capital by 0.8% during the 3rd quarter. Franklin Resources Inc. now owns 1,250,401 shares of the real estate investment trust's stock valued at $13,467,000 after buying an additional 9,859 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Rithm Capital by 119.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,608,008 shares of the real estate investment trust's stock worth $52,301,000 after acquiring an additional 2,504,529 shares during the last quarter. Finally, Graypoint LLC purchased a new stake in Rithm Capital during the fourth quarter valued at about $137,000. Hedge funds and other institutional investors own 44.92% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on RITM. Jones Trading restated a "buy" rating and issued a $12.50 target price on shares of Rithm Capital in a research report on Tuesday. BTIG Research reiterated a "buy" rating and issued a $16.00 target price on shares of Rithm Capital in a research report on Friday, April 25th. UBS Group cut their price target on shares of Rithm Capital from $14.00 to $13.00 and set a "buy" rating for the company in a research report on Wednesday, April 16th. Wedbush restated an "outperform" rating and set a $14.00 price target on shares of Rithm Capital in a research report on Friday, March 28th. Finally, Piper Sandler upgraded Rithm Capital from a "neutral" rating to an "overweight" rating and boosted their price objective for the company from $12.50 to $14.00 in a research report on Monday. Eight equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $13.61.

Rithm Capital Trading Up 0.4 %

RITM stock traded up $0.04 during trading on Wednesday, reaching $11.18. The company had a trading volume of 5,730,249 shares, compared to its average volume of 3,919,884. Rithm Capital Corp. has a 52 week low of $9.13 and a 52 week high of $12.20. The business has a 50 day moving average of $11.09 and a 200 day moving average of $11.09. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.09 and a quick ratio of 1.35. The company has a market cap of $5.93 billion, a P/E ratio of 6.69 and a beta of 1.36.

Rithm Capital (NYSE:RITM - Get Free Report) last issued 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. The company 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 firm earned $0.48 earnings per share. As a group, 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 firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a $0.25 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.00 annualized dividend and a dividend yield of 8.94%. Rithm Capital's 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.