Northern Right Capital Management L.P. Increases Position in Rithm Capital Corp. (NYSE:RITM)

Northern Right Capital Management L.P. grew its stake in shares of Rithm Capital Corp. (NYSE:RITM - Free Report) by 26.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,206,970 shares of the real estate investment trust's stock after purchasing an additional 458,944 shares during the quarter. Rithm Capital accounts for 8.8% of Northern Right Capital Management L.P.'s investment portfolio, making the stock its 3rd biggest position. Northern Right Capital Management L.P. owned 0.42% of Rithm Capital worth $23,901,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Wilmington Savings Fund Society FSB acquired a new position in Rithm Capital in the 3rd quarter worth $43,000. Householder Group Estate & Retirement Specialist LLC boosted its holdings in Rithm Capital by 86.7% in the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 4,439 shares of the real estate investment trust's stock valued at $48,000 after purchasing an additional 2,062 shares during the last quarter. Quadrant Capital Group LLC increased its holdings in Rithm Capital by 35.2% during the 4th quarter. Quadrant Capital Group LLC now owns 4,655 shares of the real estate investment trust's stock worth $50,000 after purchasing an additional 1,211 shares during the last quarter. C M Bidwell & Associates Ltd. purchased a new position in shares of Rithm Capital during the 4th quarter valued at approximately $81,000. Finally, FNY Investment Advisers LLC grew its position in shares of Rithm Capital by 8,600.0% during the fourth quarter. FNY Investment Advisers LLC now owns 8,700 shares of the real estate investment trust's stock worth $94,000 after buying an additional 8,600 shares in the last quarter. Hedge funds and other institutional investors own 44.92% of the company's stock.

Wall Street Analysts Forecast Growth

RITM has been the topic of several recent analyst reports. Piper Sandler raised shares of Rithm Capital from a "neutral" rating to an "overweight" rating and upped their price target for the company from $12.50 to $14.00 in a report on Monday. B. Riley raised shares of Rithm Capital to a "strong-buy" rating in a research report on Tuesday, January 7th. Wedbush restated an "outperform" rating and set a $14.00 price objective on shares of Rithm Capital in a research note on Friday, March 28th. 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. Finally, UBS Group lowered their price target on Rithm Capital from $14.00 to $13.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company has an average rating of "Buy" and a consensus price target of $13.61.

Rithm Capital Stock Performance

Shares of RITM stock traded up $0.04 during trading hours on Wednesday, reaching $11.18. The stock had a trading volume of 5,729,300 shares, compared to its average volume of 5,594,075. The firm has a market capitalization of $5.93 billion, a PE ratio of 6.69 and a beta of 1.36. The firm has a 50-day simple moving average of $11.10 and a 200-day simple moving average of $11.09. Rithm Capital Corp. has a twelve month low of $10.85 and a twelve month high of $11.21. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.09 and a quick ratio of 1.35.

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 EPS for the quarter, beating the consensus estimate of $0.45 by $0.07. Rithm Capital had a net margin of 17.79% and a return on equity of 18.15%. The company had revenue of $28.89 million for the quarter, compared to analyst estimates of $1.27 billion. During the same quarter last year, the business earned $0.48 earnings per share. As a group, equities analysts forecast that Rithm Capital Corp. will post 1.93 earnings per share for the current year.

Rithm Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.94%. The ex-dividend date of this dividend is Monday, March 31st. Rithm Capital's dividend payout ratio (DPR) is 83.33%.

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.