Rithm Capital Corp. (NYSE:RITM) Shares Purchased by Summit Securities Group LLC

Summit Securities Group LLC boosted its position in shares of Rithm Capital Corp. (NYSE:RITM) by 415.6% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 23,200 shares of the real estate investment trust’s stock after acquiring an additional 18,700 shares during the period. Summit Securities Group LLC’s holdings in Rithm Capital were worth $251,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Norges Bank purchased a new position in shares of Rithm Capital in the 4th quarter valued at $76,082,000. JPMorgan Chase & Co. raised its position in Rithm Capital by 119.1% in the 3rd 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 last quarter. Azora Capital LP boosted its stake in Rithm Capital by 107.6% during the 3rd quarter. Azora Capital LP now owns 4,383,821 shares of the real estate investment trust’s stock worth $49,756,000 after purchasing an additional 2,271,671 shares during the period. Soros Fund Management LLC purchased a new position in Rithm Capital during the 3rd quarter worth $23,835,000. Finally, Maven Securities LTD acquired a new position in Rithm Capital in the third quarter valued at $11,350,000. 44.92% of the stock is owned by hedge funds and other institutional investors.

Rithm Capital Trading Down 2.1 %

Shares of Rithm Capital stock opened at $11.39 on Friday. The company has a 50-day moving average of $11.69 and a two-hundred day moving average of $11.23. The stock has a market cap of $5.93 billion, a PE ratio of 6.82 and a beta of 1.83. The company has a current ratio of 1.09, a quick ratio of 1.35 and a debt-to-equity ratio of 1.74. Rithm Capital Corp. has a 12-month low of $10.38 and a 12-month high of $12.20.

Rithm Capital (NYSE:RITM) last issued its quarterly earnings data on Thursday, February 6th. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.16. Rithm Capital had a return on equity of 18.15% and a net margin of 17.79%. On average, research analysts anticipate that Rithm Capital Corp. will post 1.93 EPS for the current fiscal year.

Rithm Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a $0.25 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.00 dividend on an annualized basis and a yield of 8.78%. Rithm Capital’s payout ratio is 59.88%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on RITM shares. Wedbush reissued an “outperform” rating and set a $14.00 price target on shares of Rithm Capital in a report on Friday. Keefe, Bruyette & Woods upped their price target on Rithm Capital from $13.00 to $13.50 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. JMP Securities reiterated a “market outperform” rating and issued a $12.50 price objective on shares of Rithm Capital in a research report on Thursday, January 23rd. B. Riley upgraded shares of Rithm Capital to a “strong-buy” rating in a research note on Tuesday, January 7th. Finally, Piper Sandler boosted their price target 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. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Rithm Capital has an average rating of “Buy” and an average target price of $13.25.

Rithm Capital 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.