Van ECK Associates Corp Purchases 456,026 Shares of Rithm Capital Corp. (NYSE:RITM)

Van ECK Associates Corp increased its stake in shares of Rithm Capital Corp. (NYSE:RITM - Free Report) by 32.7% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,848,852 shares of the real estate investment trust's stock after purchasing an additional 456,026 shares during the quarter. Van ECK Associates Corp owned approximately 0.38% of Rithm Capital worth $19,746,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Parkside Financial Bank & Trust lifted its stake in shares of Rithm Capital by 605.1% in the 4th quarter. Parkside Financial Bank & Trust now owns 2,489 shares of the real estate investment trust's stock valued at $27,000 after purchasing an additional 2,136 shares during the period. GAMMA Investing LLC acquired a new position in Rithm Capital during the 4th quarter valued at about $34,000. Castleview Partners LLC increased its holdings in Rithm Capital by 690.6% during the 3rd 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 in the last quarter. BluePath Capital Management LLC purchased a new stake in shares of Rithm Capital in the third quarter worth approximately $70,000. Finally, Meeder Asset Management Inc. bought a new position in shares of Rithm Capital in the fourth quarter valued at approximately $95,000. 44.92% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on RITM. Argus upped their price target on Rithm Capital from $11.00 to $12.00 and gave the stock a "buy" rating in a report on Tuesday, March 5th. Wedbush restated an "outperform" rating and issued a $13.00 price objective on shares of Rithm Capital in a research report on Monday, February 26th. JMP Securities reissued a "market outperform" rating and issued a $11.00 price target on shares of Rithm Capital in a report on Thursday, April 18th. B. Riley upped their price target on shares of Rithm Capital from $12.00 to $13.00 and gave the stock a "buy" rating in a report on Wednesday, February 21st. Finally, Keefe, Bruyette & Woods lifted their price objective on Rithm Capital from $12.00 to $12.50 and gave the company an "outperform" rating in a research note on Thursday. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has an average rating of "Buy" and a consensus price target of $12.05.

Rithm Capital Price Performance

RITM traded up $0.08 during trading on Thursday, reaching $11.25. The stock had a trading volume of 3,067,758 shares, compared to its average volume of 3,484,555. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.30 and a current ratio of 0.30. The business has a 50-day moving average of $10.92 and a 200-day moving average of $10.52. Rithm Capital Corp. has a one year low of $7.59 and a one year high of $11.41. The stock has a market cap of $5.44 billion, a PE ratio of 7.50 and a beta of 1.80.

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, beating analysts' consensus estimates of $0.35 by $0.16. The company had revenue of $709.47 million for the quarter, compared to analysts' expectations of $887.04 million. Rithm Capital had a return on equity of 19.38% and a net margin of 19.77%. During the same period last year, the firm posted $0.33 EPS. As a group, equities research analysts anticipate that Rithm Capital Corp. will post 1.69 EPS for the current fiscal year.

Rithm Capital Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Monday, April 1st were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 8.89%. The ex-dividend date was Thursday, March 28th. Rithm Capital's dividend payout ratio is currently 66.67%.

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.