Balyasny Asset Management L.P. Acquires 2,136,342 Shares of Rithm Capital Corp. (NYSE:RITM)

Balyasny Asset Management L.P. raised its holdings in Rithm Capital Corp. (NYSE:RITM - Free Report) by 48.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,535,525 shares of the real estate investment trust's stock after acquiring an additional 2,136,342 shares during the quarter. Balyasny Asset Management L.P. owned about 1.26% of Rithm Capital worth $70,780,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of RITM. SeaCrest Wealth Management LLC raised its holdings in Rithm Capital by 1.0% in the fourth quarter. SeaCrest Wealth Management LLC now owns 94,566 shares of the real estate investment trust's stock worth $1,024,000 after purchasing an additional 951 shares during the period. 1620 Investment Advisors Inc. increased its position in shares of Rithm Capital by 2.1% in the 4th quarter. 1620 Investment Advisors Inc. now owns 46,035 shares of the real estate investment trust's stock valued at $499,000 after buying an additional 960 shares in the last quarter. Summit Trail Advisors LLC raised its stake in Rithm Capital by 2.0% during the 4th quarter. Summit Trail Advisors LLC now owns 49,380 shares of the real estate investment trust's stock worth $547,000 after buying an additional 967 shares during the period. Steward Partners Investment Advisory LLC grew its stake in Rithm Capital by 2.9% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 35,792 shares of the real estate investment trust's stock valued at $388,000 after acquiring an additional 1,016 shares during the period. Finally, US Bancorp DE grew its stake in Rithm Capital by 3.7% in the fourth quarter. US Bancorp DE now owns 32,458 shares of the real estate investment trust's stock valued at $352,000 after acquiring an additional 1,155 shares during the period. Institutional investors and hedge funds own 44.92% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on RITM shares. BTIG Research reiterated a "buy" rating and set a $16.00 price objective on shares of Rithm Capital in a report on Friday, April 25th. UBS Group cut their price target on shares of Rithm Capital from $14.00 to $13.00 and set a "buy" rating on the stock in a research note on Wednesday, April 16th. Jones Trading reissued a "buy" rating and set a $12.50 price objective on shares of Rithm Capital in a research report on Tuesday, April 29th. Wedbush reaffirmed an "outperform" rating and issued a $14.00 price objective on shares of Rithm Capital in a research report on Friday, March 28th. Finally, Piper Sandler raised shares of Rithm Capital from a "neutral" rating to an "overweight" rating and upped their target price for the stock from $12.50 to $14.00 in a research note on Monday, April 28th. Eight analysts have rated the stock with a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Buy" and an average price target of $13.61.

Rithm Capital Stock Down 0.4 %

Shares of NYSE RITM traded down $0.05 during mid-day trading on Friday, hitting $11.23. The company had a trading volume of 4,337,137 shares, compared to its average volume of 3,967,036. The company has a current ratio of 1.09, a quick ratio of 1.35 and a debt-to-equity ratio of 1.74. The firm has a 50-day simple moving average of $10.99 and a two-hundred day simple moving average of $11.12. The company has a market capitalization of $5.96 billion, a PE ratio of 6.72 and a beta of 1.32. Rithm Capital Corp. has a one year low of $9.13 and a one year high of $12.20.

Rithm Capital (NYSE:RITM - Get Free Report) last posted its quarterly earnings results on Friday, April 25th. The real estate investment trust reported $0.52 earnings per share 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 during the quarter, compared to the consensus estimate of $1.27 billion. During the same period last year, the company earned $0.48 earnings per share. On average, equities analysts expect that Rithm Capital Corp. will post 1.93 EPS for the current year.

Rithm Capital Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 8.90%. The ex-dividend date was Monday, March 31st. Rithm Capital's dividend payout ratio is currently 83.33%.

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.