Rithm Capital Corp. (NYSE:RITM) Shares Acquired by Cannell & Spears LLC

Cannell & Spears LLC increased its position in Rithm Capital Corp. (NYSE:RITM) by 4.7% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 127,000 shares of the real estate investment trust’s stock after purchasing an additional 5,700 shares during the period. Cannell & Spears LLC’s holdings in Rithm Capital were worth $1,375,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of RITM. Cerity Partners LLC raised its holdings in shares of Rithm Capital by 2.1% during the third quarter. Cerity Partners LLC now owns 72,434 shares of the real estate investment trust’s stock worth $822,000 after purchasing an additional 1,508 shares during the period. The Manufacturers Life Insurance Company grew its position in shares of Rithm Capital by 1.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 124,699 shares of the real estate investment trust’s stock valued at $1,415,000 after buying an additional 2,015 shares during the last quarter. FMR LLC raised its stake in Rithm Capital by 0.9% during the third quarter. FMR LLC now owns 624,501 shares of the real estate investment trust’s stock worth $7,088,000 after acquiring an additional 5,440 shares during the period. BNP Paribas Financial Markets lifted its holdings in Rithm Capital by 166.6% in the third quarter. BNP Paribas Financial Markets now owns 415,335 shares of the real estate investment trust’s stock worth $4,714,000 after acquiring an additional 259,528 shares during the last quarter. Finally, Freedom Investment Management Inc. acquired a new position in Rithm Capital in the third quarter valued at approximately $230,000. Institutional investors own 44.92% of the company’s stock.

Rithm Capital Stock Performance

Shares of RITM opened at $11.46 on Tuesday. The firm has a market capitalization of $5.96 billion, a PE ratio of 6.86 and a beta of 1.83. The company has a quick ratio of 1.35, a current ratio of 1.09 and a debt-to-equity ratio of 1.74. The firm has a 50-day moving average price of $11.69 and a 200 day moving average price of $11.23. Rithm Capital Corp. has a 52-week low of $10.38 and a 52-week high of $12.20.

Rithm Capital (NYSE:RITM) last posted its quarterly earnings data 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%. On average, sell-side analysts anticipate that Rithm Capital Corp. will post 1.93 earnings per share for the current fiscal year.

Rithm Capital Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 8.73%. The ex-dividend date of this dividend is Monday, March 31st. Rithm Capital’s payout ratio is currently 59.88%.

Analysts Set New Price Targets

RITM has been the topic of a number of research reports. JMP Securities reiterated a “market outperform” rating and set a $12.50 price target on shares of Rithm Capital in a research report on Thursday, January 23rd. Wedbush reiterated an “outperform” rating and issued a $14.00 target price on shares of Rithm Capital in a research note on Friday. 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 research report on Tuesday, December 3rd. B. Riley raised shares of Rithm Capital to a “strong-buy” rating in a report on Tuesday, January 7th. Finally, Piper Sandler boosted their target price on shares of Rithm Capital from $11.50 to $12.50 and gave the company a “neutral” rating in a research note on Friday, February 7th. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus 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.