16,266 Shares in Rithm Capital Corp. (NYSE:RITM) Bought by CCG Wealth Management LLC

CCG Wealth Management LLC bought a new position in Rithm Capital Corp. (NYSE:RITM) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 16,266 shares of the real estate investment trust’s stock, valued at approximately $182,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Treasurer of the State of North Carolina boosted its stake in shares of Rithm Capital by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 211,577 shares of the real estate investment trust’s stock worth $1,966,000 after buying an additional 1,070 shares during the last quarter. Wedmont Private Capital boosted its stake in shares of Rithm Capital by 5.9% during the 4th quarter. Wedmont Private Capital now owns 19,657 shares of the real estate investment trust’s stock worth $209,000 after buying an additional 1,087 shares during the last quarter. Nomura Asset Management Co. Ltd. boosted its stake in shares of Rithm Capital by 15.2% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 9,100 shares of the real estate investment trust’s stock worth $97,000 after buying an additional 1,200 shares during the last quarter. Harbour Investments Inc. boosted its stake in shares of Rithm Capital by 1.2% during the 3rd quarter. Harbour Investments Inc. now owns 108,081 shares of the real estate investment trust’s stock worth $1,004,000 after buying an additional 1,297 shares during the last quarter. Finally, Raleigh Capital Management Inc. boosted its stake in shares of Rithm Capital by 125.4% during the 4th quarter. Raleigh Capital Management Inc. now owns 2,986 shares of the real estate investment trust’s stock worth $32,000 after buying an additional 1,661 shares during the last quarter. 44.92% of the stock is owned by institutional investors and hedge funds.

Rithm Capital Stock Performance

Shares of RITM traded down $0.33 during mid-day trading on Monday, hitting $10.58. 3,588,649 shares of the company’s stock were exchanged, compared to its average volume of 3,269,301. Rithm Capital Corp. has a 52 week low of $8.87 and a 52 week high of $11.60. The stock’s 50-day simple moving average is $11.16 and its 200-day simple moving average is $10.91. The firm has a market cap of $5.12 billion, a price-to-earnings ratio of 7.07 and a beta of 1.82. The company has a quick ratio of 0.29, a current ratio of 0.29 and a debt-to-equity ratio of 0.20.

Rithm Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Monday, July 1st will be issued a dividend of $0.25 per share. The ex-dividend date is Monday, July 1st. This represents a $1.00 annualized dividend and a dividend yield of 9.45%. Rithm Capital’s dividend payout ratio is presently 66.67%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on RITM shares. Royal Bank of Canada reiterated an “outperform” rating and issued a $12.00 target price on shares of Rithm Capital in a research note on Monday, April 1st. B. Riley reiterated a “buy” rating and issued a $14.00 target price (up from $13.00) on shares of Rithm Capital in a research note on Friday, May 10th. JMP Securities reiterated a “market outperform” rating and issued a $11.00 target price on shares of Rithm Capital in a research note on Thursday, April 18th. Keefe, Bruyette & Woods raised their target price on shares of Rithm Capital from $12.00 to $12.50 and gave the company an “outperform” rating in a research note on Thursday, May 2nd. Finally, Wedbush reiterated an “outperform” rating and issued a $13.00 target price on shares of Rithm Capital in a research note on Thursday, May 9th. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $12.32.

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.