Allspring Global Investments Holdings LLC Raises Holdings in Rithm Capital Corp. (NYSE:RITM)

Allspring Global Investments Holdings LLC lifted its holdings in shares of Rithm Capital Corp. (NYSE:RITM) by 177.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 46,882 shares of the real estate investment trust’s stock after buying an additional 29,960 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Rithm Capital were worth $501,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of RITM. Castleview Partners LLC raised its stake in shares of Rithm Capital by 690.6% during the 3rd quarter. Castleview Partners LLC now owns 4,016 shares of the real estate investment trust’s stock worth $37,000 after buying an additional 3,508 shares in the last quarter. BluePath Capital Management LLC purchased a new position in shares of Rithm Capital during the 3rd quarter worth approximately $70,000. Harvest Fund Management Co. Ltd purchased a new position in shares of Rithm Capital during the 3rd quarter worth approximately $94,000. Meeder Asset Management Inc. purchased a new position in shares of Rithm Capital during the 4th quarter worth approximately $95,000. Finally, Fox Run Management L.L.C. acquired a new stake in shares of Rithm Capital in the 3rd quarter worth approximately $103,000. 44.92% of the stock is owned by hedge funds and other institutional investors.

Rithm Capital Price Performance

Shares of NYSE:RITM opened at $11.13 on Friday. Rithm Capital Corp. has a one year low of $7.59 and a one year high of $11.33. The business’s fifty day moving average price is $10.86 and its two-hundred day moving average price is $10.46. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.30 and a current ratio of 0.30. The stock has a market cap of $5.38 billion, a PE ratio of 10.15 and a beta of 1.82.

Rithm Capital (NYSE:RITM) last posted its quarterly earnings data on Wednesday, February 7th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.16. Rithm Capital had a return on equity of 18.49% and a net margin of 17.15%. The business had revenue of $709.47 million for the quarter, compared to analysts’ expectations of $887.04 million. During the same quarter last year, the firm earned $0.33 earnings per share. On average, analysts forecast that Rithm Capital Corp. will post 1.69 EPS for the current fiscal year.

Rithm Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Monday, April 1st will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 8.99%. The ex-dividend date is Thursday, March 28th. Rithm Capital’s dividend payout ratio (DPR) is 90.91%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on RITM shares. B. Riley upped their price target on Rithm Capital from $12.00 to $13.00 and gave the stock a “buy” rating in a report on Wednesday, February 21st. Keefe, Bruyette & Woods upped their price target on Rithm Capital from $11.50 to $12.00 and gave the stock an “outperform” rating in a report on Tuesday, April 16th. Argus upped their price target on Rithm Capital from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Tuesday, March 5th. Royal Bank of Canada restated an “outperform” rating and issued a $12.00 price target on shares of Rithm Capital in a report on Monday, April 1st. Finally, Jonestrading upped their price target on Rithm Capital from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. Nine research analysts have rated the stock with a buy rating, According to data from MarketBeat, Rithm Capital presently has an average rating of “Buy” and a consensus target price of $12.00.

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.