Longboard Asset Management LP Makes New Investment in Rithm Capital Corp. (NYSE:RITM)

Longboard Asset Management LP acquired a new position in shares of Rithm Capital Corp. (NYSE:RITM) during the 4th quarter, Holdings Channel reports. The fund acquired 18,592 shares of the real estate investment trust’s stock, valued at approximately $201,000.

Several other large investors also recently added to or reduced their stakes in RITM. Northwestern Mutual Wealth Management Co. increased its stake in Rithm Capital by 154.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,513 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 1,525 shares during the last quarter. Truvestments Capital LLC bought a new stake in Rithm Capital during the third quarter worth approximately $43,000. Wilmington Savings Fund Society FSB bought a new stake in Rithm Capital during the third quarter worth approximately $43,000. Householder Group Estate & Retirement Specialist LLC increased its stake in 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 worth $48,000 after acquiring an additional 2,062 shares during the last quarter. Finally, Godsey & Gibb Inc. bought a new stake in Rithm Capital during the third quarter worth approximately $51,000. 44.92% of the stock is owned by institutional investors.

Rithm Capital Stock Up 1.2 %

Shares of NYSE RITM opened at $11.47 on Wednesday. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.35 and a current ratio of 1.35. The firm has a market capitalization of $5.96 billion, a price-to-earnings ratio of 11.58 and a beta of 1.79. The stock has a 50 day moving average price of $11.12 and a 200 day moving average price of $11.14. Rithm Capital Corp. has a 52-week low of $9.97 and a 52-week high of $12.02.

Rithm Capital Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st were issued a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.72%. Rithm Capital’s dividend payout ratio is presently 101.01%.

Analysts Set New Price Targets

RITM has been the subject of several recent analyst reports. JMP Securities restated a “market outperform” rating and set a $12.50 target price on shares of Rithm Capital in a research report on Thursday, January 23rd. Keefe, Bruyette & Woods boosted their target price on Rithm Capital from $13.00 to $13.50 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. Wedbush restated an “outperform” rating and set a $14.00 target price on shares of Rithm Capital in a research report on Thursday, November 7th. Royal Bank of Canada restated an “outperform” rating and set a $13.00 target price on shares of Rithm Capital in a research report on Thursday, November 21st. Finally, B. Riley upgraded Rithm Capital to a “strong-buy” rating in a research report on Tuesday, January 7th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Rithm Capital currently has an average rating of “Buy” and a consensus target price of $12.94.

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.