Sterling Capital Management LLC Has $1.59 Million Stake in Rithm Capital Corp. (NYSE:RITM)

Sterling Capital Management LLC increased its position in Rithm Capital Corp. (NYSE:RITM) by 9.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 147,106 shares of the real estate investment trust’s stock after buying an additional 12,229 shares during the period. Sterling Capital Management LLC’s holdings in Rithm Capital were worth $1,593,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Wilmington Savings Fund Society FSB bought a new position in shares of Rithm Capital in the 3rd quarter valued at approximately $43,000. Householder Group Estate & Retirement Specialist LLC lifted its stake in shares of Rithm Capital by 86.7% in the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 4,439 shares of the real estate investment trust’s stock worth $48,000 after buying an additional 2,062 shares during the last quarter. Quadrant Capital Group LLC boosted its holdings in shares of Rithm Capital by 35.2% during the 4th quarter. Quadrant Capital Group LLC now owns 4,655 shares of the real estate investment trust’s stock worth $50,000 after buying an additional 1,211 shares during the period. C M Bidwell & Associates Ltd. acquired a new position in Rithm Capital in the 4th quarter valued at $81,000. Finally, FNY Investment Advisers LLC raised its holdings in Rithm Capital by 8,600.0% in the 4th quarter. FNY Investment Advisers LLC now owns 8,700 shares of the real estate investment trust’s stock worth $94,000 after acquiring an additional 8,600 shares during the period. Institutional investors own 44.92% of the company’s stock.

Analyst Ratings Changes

RITM has been the topic of several research analyst reports. B. Riley raised Rithm Capital to a “strong-buy” rating in a research report on Tuesday, January 7th. Wedbush reaffirmed an “outperform” rating and issued a $14.00 target price on shares of Rithm Capital in a report on Friday, March 28th. JMP Securities reissued a “market outperform” rating and issued a $12.50 price objective on shares of Rithm Capital in a research report on Thursday, January 23rd. Finally, Piper Sandler raised their price objective on shares of Rithm Capital from $11.50 to $12.50 and gave the stock a “neutral” rating in a research note on Friday, February 7th. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $13.25.

Rithm Capital Stock Up 3.1 %

RITM opened at $10.06 on Tuesday. The firm’s fifty day moving average price is $11.45 and its two-hundred day moving average price is $11.12. The company has a market capitalization of $5.24 billion, a P/E ratio of 6.02 and a beta of 1.36. Rithm Capital Corp. has a fifty-two week low of $9.13 and a fifty-two week high of $12.20. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.09 and a quick ratio of 1.35.

Rithm Capital (NYSE:RITM) last released its quarterly earnings data on Thursday, February 6th. The real estate investment trust reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.16. Rithm Capital had a return on equity of 18.15% and a net margin of 17.79%. On average, analysts anticipate that Rithm Capital Corp. will post 1.93 EPS for the current year.

Rithm Capital Announces Dividend

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 given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.94%. The ex-dividend date is Monday, March 31st. Rithm Capital’s dividend payout ratio (DPR) is currently 59.88%.

Rithm Capital Company 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.