Pacific Sun Financial Corp Has $328,000 Stock Holdings in Rithm Capital Corp. (NYSE:RITM)

Pacific Sun Financial Corp increased its holdings in shares of Rithm Capital Corp. (NYSE:RITM) by 51.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 30,322 shares of the real estate investment trust’s stock after buying an additional 10,247 shares during the period. Pacific Sun Financial Corp’s holdings in Rithm Capital were worth $328,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Truvestments Capital LLC acquired a new stake in Rithm Capital during the 3rd quarter worth approximately $43,000. Wilmington Savings Fund Society FSB acquired a new position in shares of Rithm Capital in the 3rd quarter worth approximately $43,000. Householder Group Estate & Retirement Specialist LLC lifted its position in shares of Rithm Capital by 86.7% in the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 4,439 shares of the real estate investment trust’s stock worth $48,000 after purchasing an additional 2,062 shares during the period. FNY Investment Advisers LLC lifted its position in shares of 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 purchasing an additional 8,600 shares during the period. Finally, Allworth Financial LP lifted its position in shares of Rithm Capital by 281.2% in the 3rd quarter. Allworth Financial LP now owns 8,695 shares of the real estate investment trust’s stock worth $99,000 after purchasing an additional 6,414 shares during the period. 44.92% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

RITM has been the subject of several research analyst reports. Piper Sandler lifted their price objective on shares of Rithm Capital from $11.50 to $12.50 and gave the company a “neutral” rating in a research note on Friday, February 7th. Royal Bank of Canada reiterated an “outperform” rating and issued a $13.00 price objective on shares of Rithm Capital in a research note on Thursday, November 21st. Keefe, Bruyette & Woods lifted their price objective on shares of Rithm Capital from $13.00 to $13.50 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. B. Riley upgraded shares of Rithm Capital to a “strong-buy” rating in a research note on Tuesday, January 7th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $12.50 price objective on shares of Rithm Capital in a research note on Thursday, January 23rd. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $12.94.

Rithm Capital Stock Performance

NYSE RITM opened at $11.94 on Thursday. The company has a fifty day moving average price of $11.28 and a 200-day moving average price of $11.17. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.35 and a quick ratio of 1.35. The firm has a market cap of $6.20 billion, a price-to-earnings ratio of 7.15 and a beta of 1.79. Rithm Capital Corp. has a 1 year low of $10.38 and a 1 year high of $12.10.

Rithm Capital (NYSE:RITM) last issued 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 net margin of 17.79% and a return on equity of 18.46%. As a group, equities research analysts predict that Rithm Capital Corp. will post 1.93 EPS for the current fiscal year.

Rithm Capital Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 8.38%. The ex-dividend date was Tuesday, December 31st. Rithm Capital’s dividend payout ratio is presently 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.