Harbour Investments Inc. Acquires 2,142 Shares of Rithm Capital Corp. (NYSE:RITM)

Harbour Investments Inc. raised its holdings in shares of Rithm Capital Corp. (NYSE:RITM) by 2.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 104,116 shares of the real estate investment trust’s stock after acquiring an additional 2,142 shares during the quarter. Harbour Investments Inc.’s holdings in Rithm Capital were worth $1,128,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Charles Schwab Investment Management Inc. raised its holdings in Rithm Capital by 7.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,364,962 shares of the real estate investment trust’s stock valued at $60,892,000 after acquiring an additional 366,600 shares during the period. JPMorgan Chase & Co. increased its holdings in shares of Rithm Capital by 119.1% in the third quarter. JPMorgan Chase & Co. now owns 4,608,008 shares of the real estate investment trust’s stock worth $52,301,000 after purchasing an additional 2,504,529 shares during the period. Neo Ivy Capital Management bought a new position in shares of Rithm Capital in the third quarter worth $1,476,000. Bank of New York Mellon Corp increased its holdings in shares of Rithm Capital by 9.1% in the fourth quarter. Bank of New York Mellon Corp now owns 1,916,453 shares of the real estate investment trust’s stock worth $20,755,000 after purchasing an additional 159,506 shares during the period. Finally, EMC Capital Management increased its holdings in shares of Rithm Capital by 1,349.0% in the fourth quarter. EMC Capital Management now owns 35,371 shares of the real estate investment trust’s stock worth $383,000 after purchasing an additional 32,930 shares during the period. Institutional investors own 44.92% of the company’s stock.

Rithm Capital Stock Down 0.6 %

Shares of NYSE:RITM opened at $11.70 on Wednesday. The firm has a fifty day moving average of $11.58 and a 200 day moving average of $11.23. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.35 and a current ratio of 1.09. Rithm Capital Corp. has a 52-week low of $10.38 and a 52-week high of $12.20. The firm has a market capitalization of $6.09 billion, a PE ratio of 7.00 and a beta of 1.83.

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

Analyst Ratings Changes

Several research firms have recently weighed in on RITM. Keefe, Bruyette & Woods upped their price target on shares of Rithm Capital from $13.00 to $13.50 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. JMP Securities reaffirmed a “market outperform” rating and issued a $12.50 price target on shares of Rithm Capital in a report on Thursday, January 23rd. Piper Sandler upped their price target on shares of Rithm Capital from $11.50 to $12.50 and gave the stock a “neutral” rating in a report on Friday, February 7th. B. Riley upgraded shares of Rithm Capital to a “strong-buy” rating in a research report on Tuesday, January 7th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $13.00 target price on shares of Rithm Capital in a research report on Thursday, November 21st. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $13.25.

Rithm Capital 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.