Rithm Capital Corp. (NYSE:RITM) Shares Bought by Melia Wealth LLC

Melia Wealth LLC raised its stake in shares of Rithm Capital Corp. (NYSE:RITM) by 1.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 223,032 shares of the real estate investment trust’s stock after purchasing an additional 3,858 shares during the quarter. Rithm Capital comprises 1.3% of Melia Wealth LLC’s holdings, making the stock its 14th biggest position. Melia Wealth LLC’s holdings in Rithm Capital were worth $2,415,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in RITM. SeaCrest Wealth Management LLC grew its holdings in shares of Rithm Capital by 1.0% during the fourth quarter. SeaCrest Wealth Management LLC now owns 94,566 shares of the real estate investment trust’s stock valued at $1,024,000 after buying an additional 951 shares during the last quarter. 1620 Investment Advisors Inc. grew its stake in Rithm Capital by 2.1% during the 4th quarter. 1620 Investment Advisors Inc. now owns 46,035 shares of the real estate investment trust’s stock valued at $499,000 after purchasing an additional 960 shares during the last quarter. Summit Trail Advisors LLC increased its holdings in shares of Rithm Capital by 2.0% in the fourth quarter. Summit Trail Advisors LLC now owns 49,380 shares of the real estate investment trust’s stock valued at $547,000 after purchasing an additional 967 shares during the period. Steward Partners Investment Advisory LLC raised its stake in shares of Rithm Capital by 2.9% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 35,792 shares of the real estate investment trust’s stock worth $388,000 after purchasing an additional 1,016 shares during the last quarter. Finally, US Bancorp DE lifted its holdings in shares of Rithm Capital by 3.7% during the fourth quarter. US Bancorp DE now owns 32,458 shares of the real estate investment trust’s stock worth $352,000 after purchasing an additional 1,155 shares during the period. Hedge funds and other institutional investors own 44.92% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on RITM. 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. B. Riley raised Rithm Capital to a “strong-buy” rating in a research report on Tuesday, January 7th. Piper Sandler lifted their price objective on Rithm Capital from $11.50 to $12.50 and gave the company a “neutral” rating in a research note on Friday, February 7th. Finally, Wedbush restated an “outperform” rating and issued a $14.00 target price on shares of Rithm Capital in a research note on Friday, March 28th. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $13.25.

Rithm Capital Stock Up 1.8 %

RITM stock opened at $9.74 on Friday. Rithm Capital Corp. has a 52 week low of $9.13 and a 52 week high of $12.20. The company has a quick ratio of 1.35, a current ratio of 1.09 and a debt-to-equity ratio of 1.74. The firm has a 50-day simple moving average of $11.51 and a 200-day simple moving average of $11.14. The stock has a market capitalization of $5.07 billion, a P/E ratio of 5.83 and a beta of 1.36.

Rithm Capital (NYSE:RITM) last posted its quarterly earnings data 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%. Equities analysts forecast that Rithm Capital Corp. will post 1.93 earnings per share for the current fiscal year.

Rithm Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a $0.25 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.00 dividend on an annualized basis and a yield of 10.26%. Rithm Capital’s payout ratio is 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.