Swiss National Bank Sells 109,100 Shares of Rithm Capital Corp. (NYSE:RITM)

Swiss National Bank reduced its position in shares of Rithm Capital Corp. (NYSE:RITM - Free Report) by 10.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 952,505 shares of the real estate investment trust's stock after selling 109,100 shares during the period. Swiss National Bank owned approximately 0.20% of Rithm Capital worth $10,173,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in the business. Parkside Financial Bank & Trust lifted its stake in shares of Rithm Capital by 605.1% in the fourth 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 purchased a new stake in shares of Rithm Capital during the 4th quarter worth approximately $34,000. Harvest Fund Management Co. Ltd acquired a new stake in shares of Rithm Capital in the 3rd quarter worth approximately $94,000. Meeder Asset Management Inc. purchased a new position in Rithm Capital in the 4th quarter valued at approximately $95,000. Finally, Fox Run Management L.L.C. acquired a new position in Rithm Capital during the third quarter worth $103,000. Hedge funds and other institutional investors own 44.92% of the company's stock.

Rithm Capital Trading Down 0.6 %

NYSE RITM traded down $0.07 during trading hours on Monday, hitting $11.32. 1,890,990 shares of the company's stock were exchanged, compared to its average volume of 3,410,114. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.29 and a current ratio of 0.29. The firm has a market capitalization of $5.47 billion, a P/E ratio of 7.54 and a beta of 1.80. The business's 50 day moving average is $11.01 and its 200-day moving average is $10.65. Rithm Capital Corp. has a 12-month low of $7.80 and a 12-month high of $11.45.

Rithm Capital Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Monday, April 1st were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $1.00 dividend on an annualized basis and a yield of 8.84%. Rithm Capital's payout ratio is 66.67%.

Wall Street Analyst Weigh In

Several research firms have weighed in on RITM. JMP Securities restated a "market outperform" rating and issued a $11.00 price target on shares of Rithm Capital in a research report on Thursday, April 18th. Royal Bank of Canada restated an "outperform" rating and set a $12.00 target price on shares of Rithm Capital in a report on Monday, April 1st. Argus upped their price target on shares of Rithm Capital from $11.00 to $12.00 and gave the company a "buy" rating in a report on Tuesday, March 5th. B. Riley reiterated a "buy" rating and issued a $14.00 price target (up from $13.00) on shares of Rithm Capital in a research report on Friday. Finally, Jonestrading upped their target price on Rithm Capital from $11.00 to $12.00 and gave the company a "buy" rating in a research note on Thursday, February 22nd. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat, Rithm Capital has an average rating of "Buy" and an average target price of $12.14.

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.