Summit Trail Advisors LLC Buys 967 Shares of Rithm Capital Corp. (NYSE:RITM)

Summit Trail Advisors LLC grew its stake in shares of Rithm Capital Corp. (NYSE:RITM) by 2.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 49,380 shares of the real estate investment trust’s stock after purchasing an additional 967 shares during the period. Summit Trail Advisors LLC’s holdings in Rithm Capital were worth $547,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. AQR Capital Management LLC boosted its position in Rithm Capital by 4.1% during the 2nd quarter. AQR Capital Management LLC now owns 29,848 shares of the real estate investment trust’s stock valued at $326,000 after acquiring an additional 1,183 shares in the last quarter. Sanctuary Advisors LLC purchased a new position in shares of Rithm Capital in the 2nd quarter valued at approximately $173,000. Exchange Traded Concepts LLC boosted its position in shares of Rithm Capital by 31.3% during the third quarter. Exchange Traded Concepts LLC now owns 244,796 shares of the real estate investment trust’s stock valued at $2,778,000 after purchasing an additional 58,356 shares in the last quarter. Creative Planning grew its stake in Rithm Capital by 20.6% in the third quarter. Creative Planning now owns 77,109 shares of the real estate investment trust’s stock worth $875,000 after purchasing an additional 13,152 shares during the period. Finally, SeaCrest Wealth Management LLC raised its holdings in Rithm Capital by 10.6% in the third quarter. SeaCrest Wealth Management LLC now owns 93,615 shares of the real estate investment trust’s stock worth $1,063,000 after purchasing an additional 9,009 shares in the last quarter. Hedge funds and other institutional investors own 44.92% of the company’s stock.

Rithm Capital Stock Performance

Shares of RITM opened at $11.84 on Wednesday. The company has a market cap of $6.15 billion, a price-to-earnings ratio of 7.09 and a beta of 1.79. The business’s fifty day simple moving average is $11.18 and its two-hundred day simple moving average is $11.15. Rithm Capital Corp. has a 12 month low of $10.06 and a 12 month high of $12.02. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.63.

Rithm Capital (NYSE:RITM) last released its quarterly earnings data on Thursday, February 6th. The real estate investment trust reported $0.60 EPS for the quarter, beating the consensus estimate of $0.44 by $0.16. Rithm Capital had a return on equity of 18.46% and a net margin of 17.79%. Research analysts anticipate that Rithm Capital Corp. will post 1.92 earnings per share for the current fiscal year.

Rithm Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.25 per share. The ex-dividend date was Tuesday, December 31st. This represents a $1.00 annualized dividend and a dividend yield of 8.45%. Rithm Capital’s payout ratio is 59.88%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the stock. B. Riley upgraded shares of Rithm Capital to a “strong-buy” rating in a report on Tuesday, January 7th. Keefe, Bruyette & Woods upped their price objective 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 set a $12.50 target price on shares of Rithm Capital in a research note on Thursday, January 23rd. Piper Sandler boosted their price target on Rithm Capital from $11.50 to $12.50 and gave the stock a “neutral” rating in a research report on Friday, February 7th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $13.00 price objective on shares of Rithm Capital in a research report on Thursday, November 21st. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $12.94.

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.