Rithm Capital Corp. (NYSE:RITM) Shares Purchased by World Equity Group Inc.

World Equity Group Inc. increased its holdings in Rithm Capital Corp. (NYSE:RITM) by 87.4% in the 4th quarter, HoldingsChannel reports. The fund owned 309,000 shares of the real estate investment trust’s stock after purchasing an additional 144,100 shares during the quarter. World Equity Group Inc.’s holdings in Rithm Capital were worth $3,346,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in RITM. Truvestments Capital LLC purchased a new stake in Rithm Capital in the 3rd quarter valued at approximately $43,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Rithm Capital during the 3rd quarter worth approximately $43,000. Householder Group Estate & Retirement Specialist LLC raised its position in shares of Rithm Capital by 86.7% during the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 4,439 shares of the real estate investment trust’s stock worth $48,000 after purchasing an additional 2,062 shares during the last quarter. Allworth Financial LP raised its position in shares of Rithm Capital by 281.2% during the 3rd quarter. Allworth Financial LP now owns 8,695 shares of the real estate investment trust’s stock worth $99,000 after purchasing an additional 6,414 shares during the last quarter. Finally, FNY Investment Advisers LLC raised its holdings in Rithm Capital by 8,600.0% in the 4th quarter. FNY Investment Advisers LLC now owns 8,700 shares of the real estate investment trust’s stock valued at $94,000 after acquiring an additional 8,600 shares during the last quarter. Institutional investors and hedge funds own 44.92% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on RITM. Piper Sandler boosted their price target on Rithm Capital from $11.50 to $12.50 and gave the company a “neutral” rating in a report on Friday, February 7th. Keefe, Bruyette & Woods boosted their price target on Rithm Capital from $13.00 to $13.50 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. Wedbush reiterated an “outperform” rating and issued a $14.00 price target on shares of Rithm Capital in a report on Thursday, November 7th. B. Riley upgraded Rithm Capital to a “strong-buy” rating in a report on Tuesday, January 7th. Finally, JMP Securities restated a “market outperform” rating and set a $12.50 price objective on shares of Rithm Capital in a report on Thursday, January 23rd. One research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $13.07.

Rithm Capital Trading Down 0.8 %

RITM stock opened at $11.89 on Friday. The business has a fifty day simple moving average of $11.31 and a 200-day simple moving average of $11.19. The company has a quick ratio of 1.35, a current ratio of 1.09 and a debt-to-equity ratio of 1.74. Rithm Capital Corp. has a 52 week low of $10.38 and a 52 week high of $12.10. The company has a market cap of $6.19 billion, a price-to-earnings ratio of 7.12 and a beta of 1.79.

Rithm Capital (NYSE:RITM) last announced its quarterly earnings results on Thursday, February 6th. The real estate investment trust reported $0.60 earnings per share 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%. On average, equities research analysts expect that Rithm Capital Corp. will post 1.93 EPS for the current year.

Rithm Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.00 annualized dividend and a dividend yield of 8.41%. Rithm Capital’s dividend payout ratio is presently 59.88%.

Rithm Capital Company 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.