Murphy & Mullick Capital Management Corp Takes Position in Rithm Capital Corp. (NYSE:RITM)

Murphy & Mullick Capital Management Corp acquired a new position in Rithm Capital Corp. (NYSE:RITM) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 19,320 shares of the real estate investment trust’s stock, valued at approximately $214,000.

Several other large investors have also recently modified their holdings of the company. SeaCrest Wealth Management LLC boosted its holdings in Rithm Capital by 1.0% in the fourth quarter. SeaCrest Wealth Management LLC now owns 94,566 shares of the real estate investment trust’s stock worth $1,024,000 after acquiring an additional 951 shares in the last quarter. 1620 Investment Advisors Inc. boosted its stake in Rithm Capital by 2.1% in the 4th quarter. 1620 Investment Advisors Inc. now owns 46,035 shares of the real estate investment trust’s stock worth $499,000 after purchasing an additional 960 shares in the last quarter. Summit Trail Advisors LLC grew its position in Rithm Capital by 2.0% during the 4th quarter. Summit Trail Advisors LLC now owns 49,380 shares of the real estate investment trust’s stock worth $547,000 after purchasing an additional 967 shares during the last quarter. Steward Partners Investment Advisory LLC increased its stake in Rithm Capital by 2.9% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 35,792 shares of the real estate investment trust’s stock valued at $388,000 after purchasing an additional 1,016 shares in the last quarter. Finally, US Bancorp DE raised its holdings in shares of Rithm Capital by 3.7% in the fourth quarter. US Bancorp DE now owns 32,458 shares of the real estate investment trust’s stock worth $352,000 after buying an additional 1,155 shares during the last quarter. Institutional investors own 44.92% of the company’s stock.

Wall Street Analyst Weigh In

RITM has been the topic of several research reports. Keefe, Bruyette & Woods upped their target price on Rithm Capital from $13.00 to $13.50 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. Piper Sandler lifted their price objective on shares of Rithm Capital from $11.50 to $12.50 and gave the company a “neutral” rating in a research note on Friday, February 7th. JMP Securities reiterated a “market outperform” rating and issued a $12.50 price objective on shares of Rithm Capital in a research note 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 equities research analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, Rithm Capital currently has a consensus rating of “Buy” and a consensus price target of $13.25.

Rithm Capital Price Performance

NYSE:RITM opened at $11.68 on Wednesday. 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 $12.20. The stock’s 50-day moving average price is $11.66 and its 200-day moving average price is $11.23. The stock has a market capitalization of $6.08 billion, a PE ratio of 6.99 and a beta of 1.83.

Rithm Capital (NYSE:RITM) last posted its quarterly earnings data on Thursday, February 6th. The real estate investment trust reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.16. Rithm Capital had a return on equity of 18.15% and a net margin of 17.79%. As a group, equities analysts expect that Rithm Capital Corp. will post 1.93 EPS for the current fiscal year.

Rithm Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 8.56%. The ex-dividend date of this dividend is Monday, March 31st. Rithm Capital’s payout ratio is 59.88%.

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.