Price T Rowe Associates Inc. MD Trims Position in Rithm Capital Corp. (NYSE:RITM)

Price T Rowe Associates Inc. MD lowered its stake in Rithm Capital Corp. (NYSE:RITM - Free Report) by 5.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 698,956 shares of the real estate investment trust's stock after selling 39,931 shares during the quarter. Price T Rowe Associates Inc. MD owned approximately 0.13% of Rithm Capital worth $7,571,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of RITM. Vanguard Group Inc. raised its holdings in Rithm Capital by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 49,008,422 shares of the real estate investment trust's stock valued at $530,761,000 after acquiring an additional 184,802 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Rithm Capital by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 8,494,199 shares of the real estate investment trust's stock worth $92,021,000 after acquiring an additional 79,142 shares during the period. Norges Bank bought a new position in Rithm Capital during the fourth quarter valued at about $76,082,000. JPMorgan Chase & Co. increased its holdings in shares of Rithm Capital by 119.1% in the third quarter. JPMorgan Chase & Co. now owns 4,608,008 shares of the real estate investment trust's stock valued at $52,301,000 after buying an additional 2,504,529 shares in the last quarter. Finally, Wellington Management Group LLP increased its stake in Rithm Capital by 0.9% in the 4th quarter. Wellington Management Group LLP now owns 3,600,461 shares of the real estate investment trust's stock worth $38,993,000 after purchasing an additional 32,544 shares in the last quarter. Institutional investors and hedge funds own 44.92% of the company's stock.

Rithm Capital Trading Down 0.1 %

RITM stock traded down $0.01 on Friday, reaching $11.27. The company's stock had a trading volume of 1,830,867 shares, compared to its average volume of 3,945,765. Rithm Capital Corp. has a 12-month low of $9.13 and a 12-month high of $12.20. The firm has a market cap of $5.98 billion, a PE ratio of 6.75 and a beta of 1.32. The business has a fifty day simple moving average of $11.00 and a two-hundred day simple moving average of $11.11. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.35 and a current ratio of 1.09.

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 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.45 by $0.07. Rithm Capital had a return on equity of 18.15% and a net margin of 17.79%. The firm had revenue of $28.89 million for the quarter, compared to the consensus estimate of $1.27 billion. During the same period in the prior year, the company posted $0.48 earnings per share. As a group, research analysts forecast that Rithm Capital Corp. will post 1.93 EPS for the current year.

Rithm Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $1.00 annualized dividend and a yield of 8.87%. Rithm Capital's dividend payout ratio (DPR) is currently 83.33%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on RITM shares. Jones Trading reaffirmed a "buy" rating and set a $12.50 price target on shares of Rithm Capital in a research note on Tuesday, April 29th. JMP Securities restated a "market outperform" rating and set a $12.50 price objective on shares of Rithm Capital in a report on Thursday, January 23rd. UBS Group cut their price objective on Rithm Capital from $14.00 to $13.00 and set a "buy" rating for the company in a report on Wednesday, April 16th. Wedbush reaffirmed an "outperform" rating and issued a $14.00 target price on shares of Rithm Capital in a research report on Friday, March 28th. Finally, BTIG Research restated a "buy" rating and issued a $16.00 target price on shares of Rithm Capital in a research report on Friday, April 25th. Eight equities research analysts have rated the stock with a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, Rithm Capital presently has an average rating of "Buy" and a consensus price target of $13.61.

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.