Parallel Advisors LLC Purchases 11,620 Shares of Rithm Capital Corp. (NYSE:RITM)

Parallel Advisors LLC increased its position in Rithm Capital Corp. (NYSE:RITM) by 34.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 45,333 shares of the real estate investment trust’s stock after purchasing an additional 11,620 shares during the quarter. Parallel Advisors LLC’s holdings in Rithm Capital were worth $491,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Cibc World Markets Corp raised its holdings in Rithm Capital by 4.7% in the 4th quarter. Cibc World Markets Corp now owns 151,197 shares of the real estate investment trust’s stock valued at $1,637,000 after acquiring an additional 6,773 shares during the period. Harbour Investments Inc. raised its holdings in Rithm Capital by 2.1% in the 4th quarter. Harbour Investments Inc. now owns 104,116 shares of the real estate investment trust’s stock valued at $1,128,000 after acquiring an additional 2,142 shares during the period. Left Brain Wealth Management LLC grew its position in shares of Rithm Capital by 47.4% during the 4th quarter. Left Brain Wealth Management LLC now owns 53,805 shares of the real estate investment trust’s stock worth $583,000 after purchasing an additional 17,305 shares in the last quarter. Swiss National Bank grew its position in shares of Rithm Capital by 8.3% during the 4th quarter. Swiss National Bank now owns 1,022,205 shares of the real estate investment trust’s stock worth $11,070,000 after purchasing an additional 78,500 shares in the last quarter. Finally, Larson Financial Group LLC grew its position in shares of Rithm Capital by 19.6% during the 4th quarter. Larson Financial Group LLC now owns 174,762 shares of the real estate investment trust’s stock worth $1,893,000 after purchasing an additional 28,650 shares in the last quarter. 44.92% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on RITM. 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. Piper Sandler increased their price target on shares of Rithm Capital from $11.50 to $12.50 and gave the stock a “neutral” rating in a research report on Friday, February 7th. Keefe, Bruyette & Woods increased their price target on shares of Rithm Capital from $13.00 to $13.50 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. JMP Securities reiterated 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, B. Riley upgraded shares of Rithm Capital to a “strong-buy” rating in a research report on Tuesday, January 7th. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $13.25.

Rithm Capital Price Performance

RITM stock opened at $11.83 on Friday. The company has a fifty day moving average price of $11.62 and a 200-day moving average price of $11.24. The company has a market capitalization of $6.16 billion, a P/E ratio of 7.08 and a beta of 1.83. Rithm Capital Corp. has a 52-week low of $10.38 and a 52-week high of $12.20. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.35 and a current ratio of 1.09.

Rithm Capital (NYSE:RITM) last released its quarterly 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 net margin of 17.79% and a return on equity of 18.15%. As a group, equities analysts expect that Rithm Capital Corp. will post 1.93 EPS for the current year.

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.