Alaska Permanent Fund Corp Sells 3,681 Shares of Rithm Capital Corp. (NYSE:RITM)

Alaska Permanent Fund Corp cut its holdings in shares of Rithm Capital Corp. (NYSE:RITM) by 1.4% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 258,019 shares of the real estate investment trust’s stock after selling 3,681 shares during the quarter. Alaska Permanent Fund Corp’s holdings in Rithm Capital were worth $2,756,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in RITM. Parkside Financial Bank & Trust increased its stake in Rithm Capital by 605.1% during the fourth quarter. Parkside Financial Bank & Trust now owns 2,489 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 2,136 shares during the last quarter. GAMMA Investing LLC acquired a new stake in shares of Rithm Capital in the fourth quarter worth about $34,000. Castleview Partners LLC lifted its position in shares of Rithm Capital by 690.6% in the third quarter. Castleview Partners LLC now owns 4,016 shares of the real estate investment trust’s stock worth $37,000 after buying an additional 3,508 shares during the last quarter. BluePath Capital Management LLC acquired a new position in shares of Rithm Capital during the 3rd quarter worth about $70,000. Finally, Harvest Fund Management Co. Ltd bought a new stake in shares of Rithm Capital in the 3rd quarter valued at approximately $94,000. 44.92% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

RITM has been the topic of several research analyst reports. B. Riley raised their price objective on Rithm Capital from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. JMP Securities reissued a “market outperform” rating and set a $11.00 price objective on shares of Rithm Capital in a research report on Thursday, April 18th. Wedbush reissued an “outperform” rating and issued a $13.00 price target on shares of Rithm Capital in a research note on Monday, February 26th. Jonestrading raised their target price on shares of Rithm Capital from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Thursday, February 22nd. Finally, Argus lifted their target price on shares of Rithm Capital from $11.00 to $12.00 and gave the company a “buy” rating in a report on Tuesday, March 5th. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $12.00.

Rithm Capital Stock Performance

RITM traded up $0.05 on Wednesday, hitting $11.13. The company had a trading volume of 2,184,329 shares, compared to its average volume of 3,425,369. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.30 and a quick ratio of 0.30. The stock has a market cap of $5.39 billion, a price-to-earnings ratio of 10.11 and a beta of 1.82. The company’s fifty day moving average price is $10.85 and its 200 day moving average price is $10.45. Rithm Capital Corp. has a 1-year low of $7.59 and a 1-year high of $11.33.

Rithm Capital (NYSE:RITM) last announced its quarterly earnings results on Wednesday, February 7th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.16. The business had revenue of $709.47 million for the quarter, compared to analyst estimates of $887.04 million. Rithm Capital had a return on equity of 18.49% and a net margin of 17.15%. During the same quarter in the prior year, the company earned $0.33 earnings per share. Equities analysts predict that Rithm Capital Corp. will post 1.69 earnings per share for the current fiscal year.

Rithm Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Monday, April 1st will be issued a $0.25 dividend. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.98%. Rithm Capital’s payout ratio is 90.91%.

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.