Cary Street Partners Financial LLC Invests $239,000 in Rithm Capital Corp. (NYSE:RITM)

Cary Street Partners Financial LLC purchased a new stake in Rithm Capital Corp. (NYSE:RITM) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 22,100 shares of the real estate investment trust’s stock, valued at approximately $239,000.

Other hedge funds have also recently bought and sold shares of the company. Barclays PLC boosted its stake in shares of Rithm Capital by 1.2% during the 4th quarter. Barclays PLC now owns 219,670 shares of the real estate investment trust’s stock valued at $2,379,000 after buying an additional 2,701 shares during the last quarter. Wedbush Securities Inc. grew its holdings in Rithm Capital by 13.7% during the 4th quarter. Wedbush Securities Inc. now owns 231,682 shares of the real estate investment trust’s stock worth $2,509,000 after acquiring an additional 27,924 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Rithm Capital by 9.1% in the 4th 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 last quarter. EMC Capital Management raised its stake in shares of Rithm Capital by 1,349.0% in the 4th quarter. EMC Capital Management now owns 35,371 shares of the real estate investment trust’s stock valued at $383,000 after purchasing an additional 32,930 shares in the last quarter. Finally, Meridian Financial Partners LLC bought a new position in shares of Rithm Capital during the fourth quarter worth about $898,000. Institutional investors and hedge funds own 44.92% of the company’s stock.

Rithm Capital Price Performance

NYSE RITM opened at $11.23 on Friday. The company has a 50-day moving average price of $10.99 and a two-hundred day moving average price of $11.12. The stock has a market cap of $5.96 billion, a price-to-earnings ratio of 6.72 and a beta of 1.32. The company has a current ratio of 1.09, a quick ratio of 1.35 and a debt-to-equity ratio of 1.74. Rithm Capital Corp. has a 52 week low of $9.13 and a 52 week high of $12.20.

Rithm Capital (NYSE:RITM) last announced its earnings results on Friday, April 25th. The real estate investment trust reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.45 by $0.07. The firm had revenue of $28.89 million for the quarter, compared to the consensus estimate of $1.27 billion. Rithm Capital had a return on equity of 18.15% and a net margin of 17.79%. During the same quarter in the previous year, the business earned $0.48 EPS. Analysts forecast that Rithm Capital Corp. will post 1.93 EPS for the current year.

Rithm Capital Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st were given a dividend of $0.25 per share. The ex-dividend date was Monday, March 31st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.90%. Rithm Capital’s dividend payout ratio (DPR) is 83.33%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Jones Trading restated a “buy” rating and set a $12.50 price objective on shares of Rithm Capital in a research note on Tuesday, April 29th. JMP Securities restated a “market outperform” rating and set a $12.50 price objective on shares of Rithm Capital in a research note on Thursday, January 23rd. UBS Group lowered their target price on shares of Rithm Capital from $14.00 to $13.00 and set a “buy” rating for the company in a research note on Wednesday, April 16th. Wedbush restated an “outperform” rating and issued a $14.00 price target on shares of Rithm Capital in a research report on Friday, March 28th. Finally, BTIG Research reaffirmed a “buy” rating and set a $16.00 price objective on shares of Rithm Capital in a research report on Friday, April 25th. Eight research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average target price of $13.56.

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.