127,000 Shares in Rithm Capital Corp. (NYSE:RITM) Bought by Access Investment Management LLC

Access Investment Management LLC bought a new stake in Rithm Capital Corp. (NYSE:RITMFree Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 127,000 shares of the real estate investment trust’s stock, valued at approximately $1,356,000.

A number of other large investors have also recently bought and sold shares of the company. Xponance Inc. grew its stake in Rithm Capital by 19.5% in the third quarter. Xponance Inc. now owns 20,112 shares of the real estate investment trust’s stock valued at $187,000 after purchasing an additional 3,286 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its position in shares of Rithm Capital by 18.1% in the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 423,207 shares of the real estate investment trust’s stock valued at $3,932,000 after acquiring an additional 64,794 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of Rithm Capital by 13.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 91,095 shares of the real estate investment trust’s stock valued at $846,000 after purchasing an additional 10,569 shares during the period. Strs Ohio lifted its stake in Rithm Capital by 40.6% in the 3rd quarter. Strs Ohio now owns 234,143 shares of the real estate investment trust’s stock valued at $2,175,000 after purchasing an additional 67,652 shares during the last quarter. Finally, Chicago Partners Investment Group LLC grew its holdings in Rithm Capital by 29.0% during the third quarter. Chicago Partners Investment Group LLC now owns 27,896 shares of the real estate investment trust’s stock worth $252,000 after purchasing an additional 6,271 shares during the period. Institutional investors and hedge funds own 44.92% of the company’s stock.

Rithm Capital Price Performance

Rithm Capital stock traded up $0.06 during trading hours on Friday, reaching $11.38. 2,551,542 shares of the stock were exchanged, compared to its average volume of 2,954,091. The company has a current ratio of 0.29, a quick ratio of 0.30 and a debt-to-equity ratio of 0.20. Rithm Capital Corp. has a twelve month low of $7.80 and a twelve month high of $11.45. The company has a market cap of $5.50 billion, a P/E ratio of 7.58 and a beta of 1.80. The stock has a 50 day moving average of $11.00 and a two-hundred day moving average of $10.62.

Rithm Capital (NYSE:RITMGet Free Report) last announced its quarterly earnings data on Wednesday, February 7th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.16. The business had revenue of $709.47 million for the quarter, compared to analysts’ expectations of $887.04 million. Rithm Capital had a net margin of 19.77% and a return on equity of 19.33%. During the same period last year, the firm posted $0.33 earnings per share. Equities analysts expect that Rithm Capital Corp. will post 1.71 EPS for the current fiscal year.

Rithm Capital Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Monday, April 1st were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, March 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.79%. Rithm Capital’s dividend payout ratio (DPR) is currently 66.67%.

Analyst Upgrades and Downgrades

RITM has been the topic of a number of research reports. Keefe, Bruyette & Woods upped their price target on shares of Rithm Capital from $12.00 to $12.50 and gave the company an “outperform” rating in a research note on Thursday, May 2nd. Wedbush reissued an “outperform” rating and set a $13.00 price target on shares of Rithm Capital in a report on Thursday. B. Riley restated a “buy” rating and issued a $14.00 price target (up from $13.00) on shares of Rithm Capital in a research note on Friday. Jonestrading lifted their target price on Rithm Capital from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. Finally, Argus boosted their target price on shares of Rithm Capital from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Tuesday, March 5th. Nine research analysts have rated the stock with a buy rating, According to MarketBeat, Rithm Capital currently has a consensus rating of “Buy” and an average price target of $12.14.

View Our Latest Analysis on Rithm Capital

Rithm Capital Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Rithm Capital (NYSE:RITM)

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