Consolidated Portfolio Review Corp Decreases Stake in Rithm Capital Corp. (NYSE:RITM)

Consolidated Portfolio Review Corp lessened its stake in shares of Rithm Capital Corp. (NYSE:RITM) by 12.2% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 92,106 shares of the real estate investment trust’s stock after selling 12,822 shares during the quarter. Consolidated Portfolio Review Corp’s holdings in Rithm Capital were worth $984,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of Rithm Capital by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 42,301,286 shares of the real estate investment trust’s stock valued at $464,468,000 after acquiring an additional 321,279 shares during the last quarter. BlackRock Inc. boosted its position in shares of Rithm Capital by 5.9% during the 2nd quarter. BlackRock Inc. now owns 26,305,368 shares of the real estate investment trust’s stock valued at $245,955,000 after acquiring an additional 1,454,409 shares during the last quarter. Bank of America Corp DE boosted its position in shares of Rithm Capital by 23.2% during the 1st quarter. Bank of America Corp DE now owns 9,832,254 shares of the real estate investment trust’s stock valued at $78,658,000 after acquiring an additional 1,852,760 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Rithm Capital by 36.8% during the 1st quarter. Geode Capital Management LLC now owns 8,492,827 shares of the real estate investment trust’s stock valued at $68,036,000 after acquiring an additional 2,283,734 shares during the last quarter. Finally, State Street Corp boosted its position in shares of Rithm Capital by 2.5% during the 1st quarter. State Street Corp now owns 8,129,642 shares of the real estate investment trust’s stock valued at $67,056,000 after acquiring an additional 195,356 shares during the last quarter. Hedge funds and other institutional investors own 44.92% of the company’s stock.

Rithm Capital Trading Down 1.5 %

RITM stock traded down $0.16 during midday trading on Friday, hitting $10.60. The company had a trading volume of 2,507,023 shares, compared to its average volume of 2,536,949. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.12. Rithm Capital Corp. has a 52 week low of $7.59 and a 52 week high of $11.33. The stock’s 50 day moving average price is $10.79 and its 200 day moving average price is $10.37. The stock has a market cap of $5.12 billion, a price-to-earnings ratio of 9.64 and a beta of 1.82.

Rithm Capital (NYSE:RITM) last announced its quarterly earnings data on Wednesday, February 7th. The real estate investment trust reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.16. Rithm Capital had a return on equity of 18.49% and a net margin of 17.15%. The firm had revenue of $709.47 million during the quarter, compared to the consensus estimate of $887.04 million. During the same quarter in the previous year, the company posted $0.33 earnings per share. As a group, equities research analysts expect that Rithm Capital Corp. will post 1.69 earnings per share for the current fiscal year.

Rithm Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Monday, April 1st will be paid a dividend of $0.25 per share. The ex-dividend date is Thursday, March 28th. This represents a $1.00 annualized dividend and a dividend yield of 9.43%. Rithm Capital’s dividend payout ratio (DPR) is presently 90.91%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on RITM. JMP Securities boosted their target price on Rithm Capital from $10.50 to $11.00 and gave the stock a “market outperform” rating in a research report on Thursday, January 18th. Wedbush restated an “outperform” rating and issued a $13.00 target price on shares of Rithm Capital in a research report on Monday, February 26th. B. Riley boosted their target price on Rithm Capital from $12.00 to $13.00 and gave the stock a “buy” rating in a research report on Wednesday, February 21st. Royal Bank of Canada restated an “outperform” rating and issued a $12.00 target price on shares of Rithm Capital in a research report on Monday, April 1st. Finally, Jonestrading boosted their target price on Rithm Capital from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Thursday, February 22nd. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Rithm Capital currently has a consensus rating of “Buy” and an average price target of $12.00.

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.