Stifel Financial Corp Purchases 57,499 Shares of Rithm Capital Corp. (NYSE:RITM)

Stifel Financial Corp raised its stake in Rithm Capital Corp. (NYSE:RITM - Free Report) by 8.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 733,417 shares of the real estate investment trust's stock after buying an additional 57,499 shares during the period. Stifel Financial Corp owned about 0.14% of Rithm Capital worth $7,943,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in RITM. Norges Bank acquired a new stake in Rithm Capital during the fourth quarter worth approximately $76,082,000. JPMorgan Chase & Co. increased its stake in shares of Rithm Capital by 119.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,608,008 shares of the real estate investment trust's stock valued at $52,301,000 after acquiring an additional 2,504,529 shares in the last quarter. First Trust Advisors LP increased its stake in shares of Rithm Capital by 78.3% in the 4th quarter. First Trust Advisors LP now owns 3,304,999 shares of the real estate investment trust's stock valued at $35,793,000 after acquiring an additional 1,451,829 shares in the last quarter. Wells Fargo & Company MN lifted its position in shares of Rithm Capital by 113.9% during the 4th quarter. Wells Fargo & Company MN now owns 1,464,456 shares of the real estate investment trust's stock valued at $15,860,000 after acquiring an additional 779,771 shares during the period. Finally, Raymond James Financial Inc. bought a new position in Rithm Capital during the fourth quarter worth $7,572,000. Institutional investors and hedge funds own 44.92% of the company's stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on RITM. Wedbush reiterated an "outperform" rating and set a $14.00 price objective on shares of Rithm Capital in a report on Friday, March 28th. Jones Trading reiterated a "buy" rating and issued a $12.50 price target on shares of Rithm Capital in a report 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. BTIG Research reiterated a "buy" rating and issued a $16.00 target price on shares of Rithm Capital in a report on Friday, April 25th. Finally, Piper Sandler upgraded shares of Rithm Capital from a "neutral" rating to an "overweight" rating and boosted their price target for the company from $12.50 to $14.00 in a research note on Monday, April 28th. Eight investment analysts have rated the stock with a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Rithm Capital currently has a consensus rating of "Buy" and an average price target of $13.61.

Rithm Capital Stock Up 0.9 %

Rithm Capital stock traded up $0.10 during midday trading on Friday, hitting $11.28. 5,120,687 shares of the stock were exchanged, compared to its average volume of 3,932,110. Rithm Capital Corp. has a 52-week low of $9.13 and a 52-week high of $12.20. The company has a quick ratio of 1.35, a current ratio of 1.09 and a debt-to-equity ratio of 1.74. The business's 50-day moving average price is $11.06 and its 200-day moving average price is $11.10. The stock has a market capitalization of $5.98 billion, a price-to-earnings ratio of 6.75 and a beta of 1.36.

Rithm Capital (NYSE:RITM - Get Free Report) last announced its earnings results on Friday, April 25th. The real estate investment trust reported $0.52 earnings per share for the quarter, topping 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 quarter in the previous year, the business earned $0.48 EPS. On average, research analysts expect that Rithm Capital Corp. will post 1.93 EPS for the current fiscal year.

Rithm Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.87%. The ex-dividend date was Monday, March 31st. Rithm Capital's payout ratio is 83.33%.

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.