Redhawk Wealth Advisors Inc. Acquires 5,127 Shares of Rithm Capital Corp. (NYSE:RITM)

Redhawk Wealth Advisors Inc. boosted its holdings in shares of Rithm Capital Corp. (NYSE:RITM) by 10.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 53,815 shares of the real estate investment trust’s stock after acquiring an additional 5,127 shares during the quarter. Redhawk Wealth Advisors Inc.’s holdings in Rithm Capital were worth $583,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in RITM. Geode Capital Management LLC increased its stake in shares of Rithm Capital by 7.8% in the third quarter. Geode Capital Management LLC now owns 8,415,057 shares of the real estate investment trust’s stock valued at $95,537,000 after buying an additional 610,698 shares during the period. Charles Schwab Investment Management Inc. boosted 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 acquiring an additional 366,600 shares during the last quarter. JPMorgan Chase & Co. increased its position in Rithm Capital by 119.1% during 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 period. Azora Capital LP raised its holdings 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 last quarter. Finally, Wellington Management Group LLP lifted its position in shares of Rithm Capital by 37.8% in the 3rd quarter. Wellington Management Group LLP now owns 3,567,917 shares of the real estate investment trust’s stock worth $40,496,000 after purchasing an additional 978,954 shares during the period. 44.92% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently weighed in on RITM. Wedbush reissued an “outperform” rating and set a $14.00 target price on shares of Rithm Capital in a research note on Thursday, November 7th. B. Riley raised Rithm Capital to a “strong-buy” rating in a research note on Tuesday, January 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, Keefe, Bruyette & Woods lifted their target price on Rithm Capital from $13.00 to $13.50 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $12.94.

Rithm Capital Stock Performance

Shares of Rithm Capital stock opened at $11.26 on Friday. The business has a 50-day simple moving average of $10.97 and a 200 day simple moving average of $11.10. Rithm Capital Corp. has a one year low of $9.97 and a one year high of $12.02. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.35 and a quick ratio of 1.35. The firm has a market capitalization of $5.85 billion, a price-to-earnings ratio of 11.37 and a beta of 1.79.

Rithm Capital (NYSE:RITM) last issued its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $0.12. Rithm Capital had a return on equity of 17.54% and a net margin of 14.99%. The company had revenue of $619.51 million for the quarter, compared to analysts’ expectations of $1.11 billion. During the same period last year, the business earned $0.58 EPS. On average, research analysts anticipate that Rithm Capital Corp. will post 1.95 earnings per share for the current fiscal year.

Rithm Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.88%. The ex-dividend date is Tuesday, December 31st. Rithm Capital’s dividend payout ratio is currently 101.01%.

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.