Elo Mutual Pension Insurance Co Invests $205,000 in Rithm Capital Corp. (NYSE:RITM)

Elo Mutual Pension Insurance Co bought a new stake in Rithm Capital Corp. (NYSE:RITM) during the fourth quarter, Holdings Channel.com reports. The fund bought 18,899 shares of the real estate investment trust’s stock, valued at approximately $205,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Cerity Partners LLC boosted its holdings in shares of Rithm Capital by 2.1% in the third quarter. Cerity Partners LLC now owns 72,434 shares of the real estate investment trust’s stock valued at $822,000 after acquiring an additional 1,508 shares during the period. The Manufacturers Life Insurance Company boosted its stake in Rithm Capital by 1.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 124,699 shares of the real estate investment trust’s stock worth $1,415,000 after purchasing an additional 2,015 shares during the period. FMR LLC grew its position in Rithm Capital by 0.9% during the 3rd quarter. FMR LLC now owns 624,501 shares of the real estate investment trust’s stock worth $7,088,000 after purchasing an additional 5,440 shares during the last quarter. BNP Paribas Financial Markets increased its stake in Rithm Capital by 166.6% in the third quarter. BNP Paribas Financial Markets now owns 415,335 shares of the real estate investment trust’s stock valued at $4,714,000 after purchasing an additional 259,528 shares during the period. Finally, Freedom Investment Management Inc. purchased a new stake in shares of Rithm Capital in the third quarter valued at about $230,000. 44.92% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on RITM. Wedbush restated an “outperform” rating and issued a $14.00 price target on shares of Rithm Capital in a research report on Friday. Piper Sandler boosted their target price on Rithm Capital from $11.50 to $12.50 and gave the company a “neutral” rating in a report on Friday, February 7th. JMP Securities reaffirmed a “market outperform” rating and set a $12.50 price target on shares of Rithm Capital in a report on Thursday, January 23rd. B. Riley upgraded shares of Rithm Capital to a “strong-buy” rating in a research report on Tuesday, January 7th. Finally, Keefe, Bruyette & Woods raised their target price on shares of Rithm Capital from $13.00 to $13.50 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Rithm Capital has an average rating of “Buy” and an average target price of $13.25.

Rithm Capital Trading Up 0.6 %

Shares of RITM opened at $11.46 on Tuesday. Rithm Capital Corp. has a twelve month low of $10.38 and a twelve month high of $12.20. The company has a current ratio of 1.09, a quick ratio of 1.35 and a debt-to-equity ratio of 1.74. The firm has a market capitalization of $5.96 billion, a P/E ratio of 6.86 and a beta of 1.83. The firm’s 50-day moving average is $11.69 and its two-hundred day moving average is $11.23.

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

Rithm Capital Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 8.73%. The ex-dividend date is Monday, March 31st. Rithm Capital’s dividend payout ratio (DPR) is presently 59.88%.

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.