Sage Investment Counsel LLC Buys New Shares in Rithm Capital Corp. (NYSE:RITM)

Sage Investment Counsel LLC bought a new stake in Rithm Capital Corp. (NYSE:RITM) in the fourth quarter, HoldingsChannel reports. The fund bought 49,350 shares of the real estate investment trust’s stock, valued at approximately $534,000.

Other institutional investors have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its holdings in Rithm Capital by 7.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,364,962 shares of the real estate investment trust’s stock valued at $60,892,000 after purchasing an additional 366,600 shares during the period. JPMorgan Chase & Co. grew its holdings in Rithm Capital by 119.1% in the third quarter. JPMorgan Chase & Co. now owns 4,608,008 shares of the real estate investment trust’s stock valued at $52,301,000 after purchasing an additional 2,504,529 shares during the period. Van ECK Associates Corp grew its holdings in Rithm Capital by 20.7% in the third quarter. Van ECK Associates Corp now owns 2,004,057 shares of the real estate investment trust’s stock valued at $21,163,000 after purchasing an additional 343,678 shares during the period. Neo Ivy Capital Management purchased a new stake in Rithm Capital in the third quarter valued at approximately $1,476,000. Finally, EMC Capital Management grew its holdings in Rithm Capital by 1,349.0% in the fourth quarter. EMC Capital Management now owns 35,371 shares of the real estate investment trust’s stock valued at $383,000 after purchasing an additional 32,930 shares during the period. 44.92% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on RITM. B. Riley upgraded shares of Rithm Capital to a “strong-buy” rating in a report on Tuesday, January 7th. Piper Sandler lifted their price target on shares of Rithm Capital from $11.50 to $12.50 and gave the company a “neutral” rating in a research report on Friday, February 7th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $13.00 price target on shares of Rithm Capital in a research report on Thursday, November 21st. JMP Securities reaffirmed a “market outperform” rating and set a $12.50 price target on shares of Rithm Capital in a research report on Thursday, January 23rd. Finally, Keefe, Bruyette & Woods lifted their price target on shares of Rithm Capital from $13.00 to $13.50 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. One analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Rithm Capital presently has a consensus rating of “Buy” and a consensus target price of $13.07.

Rithm Capital Trading Up 0.7 %

NYSE RITM opened at $12.14 on Friday. The company’s fifty day simple moving average is $11.39 and its 200-day simple moving average is $11.21. Rithm Capital Corp. has a 52 week low of $10.38 and a 52 week high of $12.18. 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 stock has a market cap of $6.32 billion, a P/E ratio of 7.27 and a beta of 1.79.

Rithm Capital (NYSE:RITM) last posted its earnings results on Thursday, February 6th. The real estate investment trust reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.16. Rithm Capital had a net margin of 17.79% and a return on equity of 18.15%. Equities research analysts predict that Rithm Capital Corp. will post 1.93 EPS for the current fiscal year.

Rithm Capital Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st were given a dividend of $0.25 per share. 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 8.24%. Rithm Capital’s payout ratio is currently 59.88%.

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.