Strategic Financial Concepts LLC Acquires New Stake in Rithm Capital Corp. (NYSE:RITM)

Strategic Financial Concepts LLC acquired a new stake in Rithm Capital Corp. (NYSE:RITM) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 85,066 shares of the real estate investment trust’s stock, valued at approximately $921,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of RITM. Geode Capital Management LLC raised its stake in shares of Rithm Capital by 7.8% during the third quarter. Geode Capital Management LLC now owns 8,415,057 shares of the real estate investment trust’s stock valued at $95,537,000 after acquiring an additional 610,698 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Rithm Capital by 7.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,364,962 shares of the real estate investment trust’s stock worth $60,892,000 after purchasing an additional 366,600 shares during the period. JPMorgan Chase & Co. raised its position in Rithm Capital by 119.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,608,008 shares of the real estate investment trust’s stock valued at $52,301,000 after purchasing an additional 2,504,529 shares in the last quarter. Azora Capital LP lifted its holdings in shares of Rithm Capital by 107.6% in the 3rd quarter. Azora Capital LP now owns 4,383,821 shares of the real estate investment trust’s stock worth $49,756,000 after buying an additional 2,271,671 shares during the period. Finally, Wellington Management Group LLP lifted its holdings in shares of Rithm Capital by 37.8% in the 3rd quarter. Wellington Management Group LLP now owns 3,567,917 shares of the real estate investment trust’s stock worth $40,496,000 after buying an additional 978,954 shares during the period. Hedge funds and other institutional investors own 44.92% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on RITM shares. Keefe, Bruyette & Woods lifted their price objective on Rithm Capital from $13.00 to $13.50 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. B. Riley upgraded shares of Rithm Capital to a “strong-buy” rating in a report on Tuesday, January 7th. Piper Sandler increased 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. Wedbush reissued an “outperform” rating and set a $14.00 price objective on shares of Rithm Capital in a report on Thursday, November 7th. Finally, JMP Securities restated a “market outperform” rating and set a $12.50 target price on shares of Rithm Capital in a report on Thursday, January 23rd. One research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and a consensus price target of $12.94.

Rithm Capital Trading Down 0.5 %

NYSE RITM opened at $11.98 on Wednesday. Rithm Capital Corp. has a 52 week low of $10.38 and a 52 week high of $12.10. The company has a 50 day moving average price of $11.24 and a 200 day moving average price of $11.16. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.63. The firm has a market cap of $6.22 billion, a PE ratio of 7.17 and a beta of 1.79.

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 (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.16. Rithm Capital had a return on equity of 18.46% and a net margin of 17.79%. As a group, sell-side analysts forecast that Rithm Capital Corp. will post 1.92 EPS for the current fiscal year.

Rithm Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 8.35%. The ex-dividend date of this dividend was Tuesday, December 31st. Rithm Capital’s dividend payout ratio (DPR) is presently 59.88%.

About Rithm Capital

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.