Allworth Financial LP Grows Stake in Rithm Capital Corp. (NYSE:RITM)

Allworth Financial LP raised its position in shares of Rithm Capital Corp. (NYSE:RITM) by 1,437.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 133,688 shares of the real estate investment trust’s stock after purchasing an additional 124,993 shares during the period. Allworth Financial LP’s holdings in Rithm Capital were worth $1,505,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. Truvestments Capital LLC bought a new position in shares of Rithm Capital during the third quarter valued at approximately $43,000. Wilmington Savings Fund Society FSB purchased a new stake in Rithm Capital during the third quarter worth $43,000. Householder Group Estate & Retirement Specialist LLC boosted its position in Rithm Capital by 86.7% during the 4th 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 acquiring an additional 2,062 shares in the last quarter. FNY Investment Advisers LLC increased its holdings in shares of Rithm Capital by 8,600.0% in the 4th quarter. FNY Investment Advisers LLC now owns 8,700 shares of the real estate investment trust’s stock valued at $94,000 after acquiring an additional 8,600 shares during the period. Finally, Washburn Capital Management Inc. bought a new position in shares of Rithm Capital in the 3rd quarter worth $114,000. 44.92% of the stock is currently owned by hedge funds and other institutional investors.

Rithm Capital Trading Down 0.5 %

Shares of Rithm Capital stock opened at $11.98 on Wednesday. The firm’s 50 day simple moving average is $11.24 and its two-hundred day simple moving average is $11.16. The firm has a market capitalization of $6.22 billion, a price-to-earnings ratio of 7.17 and a beta of 1.79. Rithm Capital Corp. has a 12-month low of $10.38 and a 12-month high of $12.10. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.63.

Rithm Capital (NYSE:RITM) last released its earnings results on Thursday, February 6th. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.16. Rithm Capital had a return on equity of 18.46% and a net margin of 17.79%. Analysts predict that Rithm Capital Corp. will post 1.92 EPS for the current year.

Rithm Capital Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, December 31st were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.35%. The ex-dividend date of this dividend was Tuesday, December 31st. Rithm Capital’s dividend payout ratio (DPR) is 59.88%.

Wall Street Analyst Weigh In

RITM has been the topic of a number of recent research reports. B. Riley raised Rithm Capital to a “strong-buy” rating in a research report on Tuesday, January 7th. JMP Securities restated a “market outperform” rating and issued a $12.50 price target on shares of Rithm Capital in a report on Thursday, January 23rd. Piper Sandler boosted their price objective on shares of Rithm Capital from $11.50 to $12.50 and gave the stock a “neutral” rating in a research note on Friday, February 7th. Keefe, Bruyette & Woods raised their target price on shares of Rithm Capital from $13.00 to $13.50 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. Finally, Wedbush reaffirmed an “outperform” rating and set a $14.00 price target on shares of Rithm Capital in a research report on Thursday, November 7th. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target 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.