State of New Jersey Common Pension Fund D Purchases 60,922 Shares of Rithm Capital Corp. (NYSE:RITM)

State of New Jersey Common Pension Fund D increased its holdings in Rithm Capital Corp. (NYSE:RITM) by 18.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 382,722 shares of the real estate investment trust’s stock after acquiring an additional 60,922 shares during the quarter. State of New Jersey Common Pension Fund D owned approximately 0.07% of Rithm Capital worth $4,145,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in RITM. Charles Schwab Investment Management Inc. lifted its position in shares of Rithm Capital by 7.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,364,962 shares of the real estate investment trust’s stock worth $60,892,000 after purchasing an additional 366,600 shares during the period. JPMorgan Chase & Co. lifted its holdings in Rithm Capital by 119.1% during 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 buying an additional 2,504,529 shares during the period. Van ECK Associates Corp lifted its holdings in Rithm Capital by 20.7% during the third quarter. Van ECK Associates Corp now owns 2,004,057 shares of the real estate investment trust’s stock worth $21,163,000 after buying an additional 343,678 shares during the period. Neo Ivy Capital Management bought a new stake in Rithm Capital during the 3rd quarter valued at $1,476,000. Finally, EMC Capital Management increased its holdings 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 acquiring an additional 32,930 shares during the period. 44.92% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages recently weighed in on RITM. 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. Piper Sandler increased their price target on shares of Rithm Capital from $11.50 to $12.50 and gave the company a “neutral” rating in a research report on Friday, February 7th. Keefe, Bruyette & Woods lifted their price objective 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. Royal Bank of Canada reissued an “outperform” rating and set a $13.00 target price on shares of Rithm Capital in a research report on Thursday, November 21st. Finally, Wedbush reaffirmed an “outperform” rating and issued a $14.00 price target on shares of Rithm Capital in a report on Thursday, November 7th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $12.94.

Rithm Capital Trading Down 0.4 %

Shares of Rithm Capital stock opened at $11.94 on Thursday. The firm has a market capitalization of $6.20 billion, a price-to-earnings ratio of 7.15 and a beta of 1.79. 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 Corp. has a 12-month low of $10.38 and a 12-month high of $12.10. The firm’s 50 day simple moving average is $11.28 and its two-hundred day simple moving average is $11.17.

Rithm Capital (NYSE:RITM) last announced its quarterly earnings data on Thursday, February 6th. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, topping 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%. Analysts predict that Rithm Capital Corp. will post 1.93 EPS for the current year.

Rithm Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 8.38%. The ex-dividend date of this dividend was Tuesday, December 31st. Rithm Capital’s dividend payout ratio (DPR) is currently 59.88%.

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.