Institute for Wealth Management LLC. Has $742,000 Holdings in Rithm Capital Corp. (NYSE:RITM)

Institute for Wealth Management LLC. raised its stake in Rithm Capital Corp. (NYSE:RITM) by 2.5% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 68,545 shares of the real estate investment trust’s stock after acquiring an additional 1,647 shares during the period. Institute for Wealth Management LLC.’s holdings in Rithm Capital were worth $742,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Squarepoint Ops LLC bought a new stake in Rithm Capital during the second quarter worth about $774,000. AQR Capital Management LLC raised its position in shares of Rithm Capital by 4.1% in the 2nd quarter. AQR Capital Management LLC now owns 29,848 shares of the real estate investment trust’s stock valued at $326,000 after buying an additional 1,183 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Rithm Capital by 6.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 122,684 shares of the real estate investment trust’s stock worth $1,338,000 after acquiring an additional 7,965 shares during the period. Algert Global LLC boosted its position in shares of Rithm Capital by 276.5% during the 2nd quarter. Algert Global LLC now owns 48,678 shares of the real estate investment trust’s stock worth $531,000 after acquiring an additional 35,748 shares in the last quarter. Finally, Creative Planning increased its stake in Rithm Capital by 5.9% in the second quarter. Creative Planning now owns 63,957 shares of the real estate investment trust’s stock valued at $698,000 after acquiring an additional 3,557 shares during the last quarter. 44.92% of the stock is owned by institutional investors and hedge funds.

Rithm Capital Trading Down 0.3 %

Shares of RITM stock opened at $11.53 on Friday. Rithm Capital Corp. has a 1-year low of $9.97 and a 1-year high of $12.02. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.63. The stock has a market cap of $5.99 billion, a price-to-earnings ratio of 11.64 and a beta of 1.79. The stock has a 50-day moving average of $11.11 and a 200-day moving average of $11.14.

Rithm Capital (NYSE:RITM) last released its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.12. The business had revenue of $619.51 million during the quarter, compared to the consensus estimate of $1.11 billion. Rithm Capital had a net margin of 14.99% and a return on equity of 17.54%. During the same quarter in the prior year, the firm posted $0.58 EPS. On average, equities research analysts forecast that Rithm Capital Corp. will post 1.95 earnings per share for the current year.

Rithm Capital Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.25 per share. The ex-dividend date was Tuesday, December 31st. This represents a $1.00 dividend on an annualized basis and a yield of 8.68%. Rithm Capital’s payout ratio is currently 101.01%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on RITM. Keefe, Bruyette & Woods raised their target price on Rithm Capital from $13.00 to $13.50 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. B. Riley raised Rithm Capital to a “strong-buy” rating in a research note on Tuesday, January 7th. Royal Bank of Canada reissued an “outperform” rating and set a $13.00 target price on shares of Rithm Capital in a research note on Thursday, November 21st. Wedbush reissued an “outperform” rating and issued a $14.00 target price on shares of Rithm Capital in a report on Thursday, November 7th. Finally, JMP Securities reiterated a “market outperform” rating and set a $12.50 price target on shares of Rithm Capital in a report on Thursday, January 23rd. One analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Rithm Capital presently has a consensus rating of “Buy” and an average 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.