PFG Investments LLC Acquires 3,787 Shares of Rithm Capital Corp. (NYSE:RITM)

PFG Investments LLC lifted its stake in Rithm Capital Corp. (NYSE:RITM) by 7.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,515 shares of the real estate investment trust’s stock after acquiring an additional 3,787 shares during the period. PFG Investments LLC’s holdings in Rithm Capital were worth $614,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Geode Capital Management LLC boosted its stake in Rithm Capital by 7.0% during the second quarter. Geode Capital Management LLC now owns 9,087,373 shares of the real estate investment trust’s stock valued at $85,063,000 after buying an additional 594,546 shares during the period. Jump Financial LLC increased its position in shares of Rithm Capital by 668.7% in the third quarter. Jump Financial LLC now owns 215,492 shares of the real estate investment trust’s stock worth $2,002,000 after purchasing an additional 187,460 shares during the last quarter. Capula Management Ltd purchased a new position in Rithm Capital in the 3rd quarter worth approximately $910,000. Invesco Ltd. grew its position in Rithm Capital by 67.0% in the third quarter. Invesco Ltd. now owns 1,198,412 shares of the real estate investment trust’s stock worth $11,133,000 after acquiring an additional 480,769 shares in the last quarter. Finally, Dark Forest Capital Management LP boosted its holdings in shares of Rithm Capital by 171.2% in the 3rd quarter. Dark Forest Capital Management LP now owns 82,527 shares of the real estate investment trust’s stock worth $767,000 after purchasing an additional 52,099 shares in the last quarter. 44.92% of the stock is currently owned by institutional investors.

Rithm Capital Stock Performance

Rithm Capital stock opened at $11.33 on Thursday. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.12. Rithm Capital Corp. has a twelve month low of $7.59 and a twelve month high of $11.33. The company’s 50-day moving average price is $10.78 and its 200-day moving average price is $10.29. The company has a market cap of $5.47 billion, a PE ratio of 10.30 and a beta of 1.82.

Rithm Capital (NYSE:RITM) last issued its quarterly earnings data on Wednesday, February 7th. The real estate investment trust reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.16. The company had revenue of $709.47 million for the quarter, compared to analysts’ expectations of $887.04 million. Rithm Capital had a return on equity of 18.49% and a net margin of 17.15%. During the same period in the previous year, the firm posted $0.33 earnings per share. On average, equities research analysts forecast that Rithm Capital Corp. will post 1.67 EPS for the current fiscal year.

Rithm Capital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Monday, April 1st will be given a $0.25 dividend. The ex-dividend date is Thursday, March 28th. This represents a $1.00 dividend on an annualized basis and a yield of 8.83%. Rithm Capital’s dividend payout ratio is presently 90.91%.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on RITM shares. B. Riley increased their target price on shares of Rithm Capital from $12.00 to $13.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. UBS Group began coverage on Rithm Capital in a research note on Wednesday, December 6th. They issued a “buy” rating and a $12.50 price target on the stock. Argus increased their price objective on Rithm Capital from $11.00 to $12.00 and gave the company a “buy” rating in a research note on Tuesday, March 5th. JMP Securities lifted their target price on shares of Rithm Capital from $10.50 to $11.00 and gave the stock a “market outperform” rating in a research note on Thursday, January 18th. Finally, Wedbush reissued an “outperform” rating and issued a $13.00 price target on shares of Rithm Capital in a report on Monday, February 26th. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat.com, Rithm Capital presently has an average rating of “Buy” and a consensus target price of $12.00.

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.