Cerity Partners LLC Invests $737,000 in Rithm Capital Corp. (NYSE:RITM)

Cerity Partners LLC acquired a new stake in shares of Rithm Capital Corp. (NYSE:RITM - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 68,976 shares of the real estate investment trust's stock, valued at approximately $737,000.

Several other institutional investors and hedge funds have also modified their holdings of RITM. Castleview Partners LLC raised its stake in Rithm Capital by 690.6% during the third quarter. Castleview Partners LLC now owns 4,016 shares of the real estate investment trust's stock worth $37,000 after purchasing an additional 3,508 shares during the period. BluePath Capital Management LLC purchased a new position in Rithm Capital during the third quarter worth approximately $70,000. Harvest Fund Management Co. Ltd purchased a new position in Rithm Capital during the third quarter worth approximately $94,000. Meeder Asset Management Inc. purchased a new position in Rithm Capital during the fourth quarter worth approximately $95,000. Finally, Fox Run Management L.L.C. purchased a new position in Rithm Capital during the third quarter worth approximately $103,000. Hedge funds and other institutional investors own 44.92% of the company's stock.

Rithm Capital Stock Up 0.5 %

RITM traded up $0.05 during trading hours on Wednesday, reaching $11.13. 2,186,012 shares of the stock traded hands, compared to its average volume of 3,425,387. The firm's fifty day simple moving average is $10.85 and its two-hundred day simple moving average is $10.45. The company has a market cap of $5.39 billion, a price-to-earnings ratio of 10.11 and a beta of 1.82. Rithm Capital Corp. has a fifty-two week low of $7.59 and a fifty-two week high of $11.33. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.30 and a quick ratio of 0.30.

Rithm Capital (NYSE:RITM - Get Free Report) last announced its quarterly earnings data on Wednesday, February 7th. The real estate investment trust reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.16. The company had revenue of $709.47 million during the quarter, compared to analyst estimates of $887.04 million. Rithm Capital had a net margin of 17.15% and a return on equity of 18.49%. During the same period last year, the business earned $0.33 EPS. As a group, analysts forecast that Rithm Capital Corp. will post 1.69 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 Friday, April 26th. Stockholders of record on Monday, April 1st will be given a $0.25 dividend. The ex-dividend date is Thursday, March 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.98%. Rithm Capital's payout ratio is currently 90.91%.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. JMP Securities reaffirmed a "market outperform" rating and set a $11.00 price target on shares of Rithm Capital in a research note on Thursday, April 18th. B. Riley increased their price objective on shares of Rithm Capital from $12.00 to $13.00 and gave the stock a "buy" rating in a research report on Wednesday, February 21st. Keefe, Bruyette & Woods increased their price objective on shares of Rithm Capital from $11.50 to $12.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 16th. Argus increased their price objective on shares of Rithm Capital from $11.00 to $12.00 and gave the stock a "buy" rating in a research report on Tuesday, March 5th. Finally, Jonestrading increased their price objective on shares of Rithm Capital from $11.00 to $12.00 and gave the stock a "buy" rating in a research report on Thursday, February 22nd. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $12.00.

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.