Wedbush Securities Inc. Increases Position in Rithm Capital Corp. (NYSE:RITM)

Wedbush Securities Inc. increased its stake in shares of Rithm Capital Corp. (NYSE:RITM) by 13.7% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 231,682 shares of the real estate investment trust’s stock after purchasing an additional 27,924 shares during the quarter. Wedbush Securities Inc.’s holdings in Rithm Capital were worth $2,509,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in RITM. The Manufacturers Life Insurance Company lifted its holdings in shares of 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 valued at $1,415,000 after purchasing an additional 2,015 shares during the last quarter. FMR LLC increased its holdings in shares of Rithm Capital by 0.9% during the third quarter. FMR LLC now owns 624,501 shares of the real estate investment trust’s stock valued at $7,088,000 after acquiring an additional 5,440 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Rithm Capital by 102.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,173,045 shares of the real estate investment trust’s stock valued at $13,314,000 after purchasing an additional 592,209 shares during the last quarter. Verition Fund Management LLC acquired a new stake in Rithm Capital in the 3rd quarter worth approximately $203,000. Finally, HighTower Advisors LLC grew its position in Rithm Capital by 9.9% during the 3rd quarter. HighTower Advisors LLC now owns 230,755 shares of the real estate investment trust’s stock worth $2,616,000 after purchasing an additional 20,802 shares during the last quarter. Institutional investors own 44.92% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently commented on RITM. Wedbush reiterated an “outperform” rating and set a $14.00 price objective on shares of Rithm Capital in a research note on Friday, March 28th. B. Riley raised Rithm Capital to a “strong-buy” rating in a research report on Tuesday, January 7th. Piper Sandler increased their price objective on Rithm Capital from $11.50 to $12.50 and gave the company a “neutral” rating in a report on Friday, February 7th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $12.50 target price on shares of Rithm Capital in a report on Thursday, January 23rd. One 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 MarketBeat, Rithm Capital presently has a consensus rating of “Buy” and an average target price of $13.25.

Rithm Capital Price Performance

Shares of RITM opened at $10.44 on Friday. The business’s 50-day moving average is $11.68 and its two-hundred day moving average is $11.22. The company has a market capitalization of $5.43 billion, a P/E ratio of 6.25 and a beta of 1.83. Rithm Capital Corp. has a fifty-two week low of $10.28 and a fifty-two week high of $12.20. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.35 and a current ratio of 1.09.

Rithm Capital (NYSE:RITM) last posted its earnings results on Thursday, February 6th. The real estate investment trust reported $0.60 EPS for the quarter, topping the consensus estimate of $0.44 by $0.16. Rithm Capital had a return on equity of 18.15% and a net margin of 17.79%. Research analysts predict that Rithm Capital Corp. will post 1.93 earnings per share for the current year.

Rithm Capital Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 9.58%. The ex-dividend date of this dividend is Monday, March 31st. Rithm Capital’s dividend payout ratio (DPR) is 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.