Raymond James Financial Inc. acquired a new position in Rithm Capital Corp. (NYSE:RITM - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm acquired 699,148 shares of the real estate investment trust's stock, valued at approximately $7,572,000. Raymond James Financial Inc. owned about 0.13% of Rithm Capital as of its most recent filing with the SEC.
Other large investors have also recently made changes to their positions in the company. Wilmington Savings Fund Society FSB bought a new stake in shares of Rithm Capital in the 3rd quarter worth approximately $43,000. Householder Group Estate & Retirement Specialist LLC boosted its position in shares of Rithm Capital by 86.7% during 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 in the last quarter. Quadrant Capital Group LLC boosted its position in shares of Rithm Capital by 35.2% during the fourth quarter. Quadrant Capital Group LLC now owns 4,655 shares of the real estate investment trust's stock valued at $50,000 after purchasing an additional 1,211 shares in the last quarter. C M Bidwell & Associates Ltd. bought a new stake in shares of Rithm Capital during the fourth quarter valued at approximately $81,000. Finally, FNY Investment Advisers LLC boosted 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 valued at $94,000 after purchasing an additional 8,600 shares in the last quarter. 44.92% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several equities research analysts recently weighed in on RITM shares. Piper Sandler upgraded Rithm Capital from a "neutral" rating to an "overweight" rating and lifted their price target for the company from $12.50 to $14.00 in a research report on Monday. BTIG Research reiterated a "buy" rating on shares of Rithm Capital in a research note on Friday. JMP Securities reissued a "market outperform" rating and issued a $12.50 target price on shares of Rithm Capital in a report on Thursday, January 23rd. Wedbush reissued an "outperform" rating and issued a $14.00 target price on shares of Rithm Capital in a report on Friday, March 28th. Finally, UBS Group dropped their target price on Rithm Capital from $14.00 to $13.00 and set a "buy" rating on the stock in a report on Wednesday, April 16th. Seven research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $13.43.
Get Our Latest Research Report on RITM
Rithm Capital Stock Performance
Shares of NYSE:RITM traded up $0.42 during midday trading on Monday, reaching $10.96. 7,292,595 shares of the company's stock traded hands, compared to its average volume of 3,921,521. The company has a market cap of $5.81 billion, a price-to-earnings ratio of 6.56 and a beta of 1.36. 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 Corp. has a one year low of $9.13 and a one year high of $12.20. The stock has a 50 day moving average of $11.12 and a 200 day moving average of $11.09.
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. The firm had revenue of $28.89 million for the quarter, compared to the consensus estimate of $1.27 billion. Rithm Capital had a return on equity of 18.15% and a net margin of 17.79%. During the same period in the prior year, the company posted $0.48 earnings per share. As a group, equities research analysts anticipate that Rithm Capital Corp. will post 1.93 EPS for the current fiscal year.
Rithm Capital Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 9.12%. The ex-dividend date of this dividend is Monday, March 31st. Rithm Capital's dividend payout ratio (DPR) is presently 83.33%.
Rithm Capital Company Profile
(
Free Report)
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.
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