1620 Investment Advisors Inc. Acquires 960 Shares of Rithm Capital Corp. (NYSE:RITM)

1620 Investment Advisors Inc. raised its holdings in shares of Rithm Capital Corp. (NYSE:RITM) by 2.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 46,035 shares of the real estate investment trust’s stock after purchasing an additional 960 shares during the quarter. 1620 Investment Advisors Inc.’s holdings in Rithm Capital were worth $499,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of RITM. JPMorgan Chase & Co. lifted its holdings in shares of Rithm Capital by 119.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,608,008 shares of the real estate investment trust’s stock worth $52,301,000 after acquiring an additional 2,504,529 shares during the last quarter. Azora Capital LP lifted its holdings in shares of Rithm Capital by 107.6% in the 3rd quarter. Azora Capital LP now owns 4,383,821 shares of the real estate investment trust’s stock worth $49,756,000 after acquiring an additional 2,271,671 shares during the last quarter. Soros Fund Management LLC bought a new stake in shares of Rithm Capital in the 3rd quarter worth about $23,835,000. Maven Securities LTD bought a new stake in shares of Rithm Capital in the 3rd quarter worth about $11,350,000. Finally, Wellington Management Group LLP lifted its holdings in shares of Rithm Capital by 37.8% in the 3rd quarter. Wellington Management Group LLP now owns 3,567,917 shares of the real estate investment trust’s stock worth $40,496,000 after acquiring an additional 978,954 shares during the last quarter. Institutional investors own 44.92% of the company’s stock.

Rithm Capital Trading Up 0.0 %

NYSE RITM opened at $11.83 on Friday. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.35 and a current ratio of 1.09. The company has a market capitalization of $6.16 billion, a price-to-earnings ratio of 7.08 and a beta of 1.83. The company’s 50-day simple moving average is $11.62 and its two-hundred day simple moving average is $11.24. Rithm Capital Corp. has a one year low of $10.38 and a one year high of $12.20.

Rithm Capital (NYSE:RITM) last posted its earnings results 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 net margin of 17.79% and a return on equity of 18.15%. Equities analysts forecast that Rithm Capital Corp. will post 1.93 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on RITM shares. Piper Sandler raised their target price 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. Keefe, Bruyette & Woods raised their target price 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. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $13.00 price target on shares of Rithm Capital in a research note on Thursday, November 21st. B. Riley raised shares of Rithm Capital to a “strong-buy” rating in a research note on Tuesday, January 7th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $12.50 price target on shares of Rithm Capital in a research note on Thursday, January 23rd. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Rithm Capital has a consensus rating of “Buy” and an average price target of $13.25.

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.