EMC Capital Management Boosts Holdings in Rithm Capital Corp. (NYSE:RITM)

EMC Capital Management boosted its holdings in Rithm Capital Corp. (NYSE:RITM) by 1,349.0% during the fourth quarter, HoldingsChannel reports. The fund owned 35,371 shares of the real estate investment trust’s stock after buying an additional 32,930 shares during the period. EMC Capital Management’s holdings in Rithm Capital were worth $383,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Squarepoint Ops LLC acquired a new stake in Rithm Capital in the 2nd quarter valued at approximately $774,000. AQR Capital Management LLC raised its holdings in shares of Rithm Capital by 4.1% in the 2nd quarter. AQR Capital Management LLC now owns 29,848 shares of the real estate investment trust’s stock valued at $326,000 after buying an additional 1,183 shares during the period. The Manufacturers Life Insurance Company lifted its stake in Rithm Capital by 6.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 122,684 shares of the real estate investment trust’s stock worth $1,338,000 after acquiring an additional 7,965 shares in the last quarter. Algert Global LLC grew its position in Rithm Capital by 276.5% in the 2nd quarter. Algert Global LLC now owns 48,678 shares of the real estate investment trust’s stock valued at $531,000 after acquiring an additional 35,748 shares in the last quarter. Finally, Creative Planning increased its stake in Rithm Capital by 5.9% during the second quarter. Creative Planning now owns 63,957 shares of the real estate investment trust’s stock worth $698,000 after purchasing an additional 3,557 shares during the period. Institutional investors and hedge funds own 44.92% of the company’s stock.

Rithm Capital Stock Performance

Shares of Rithm Capital stock opened at $11.47 on Thursday. The stock has a market capitalization of $5.96 billion, a price-to-earnings ratio of 11.57 and a beta of 1.79. The firm’s fifty day simple moving average is $11.08 and its 200-day simple moving average is $11.14. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.35 and a quick ratio of 1.35. Rithm Capital Corp. has a 12 month low of $9.97 and a 12 month high of $12.02.

Rithm Capital (NYSE:RITM) last announced its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.12. Rithm Capital had a net margin of 14.99% and a return on equity of 17.54%. The business had revenue of $619.51 million during the quarter, compared to analysts’ expectations of $1.11 billion. During the same period in the prior year, the company earned $0.58 earnings per share. As a group, equities analysts forecast that Rithm Capital Corp. will post 1.95 earnings per share for the current year.

Rithm Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, December 31st. This represents a $1.00 dividend on an annualized basis and a yield of 8.72%. Rithm Capital’s payout ratio is 101.01%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on RITM shares. Keefe, Bruyette & Woods boosted their price objective on Rithm Capital from $13.00 to $13.50 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. B. Riley raised Rithm Capital to a “strong-buy” rating in a report on Tuesday, January 7th. JMP Securities reiterated a “market outperform” rating and issued a $12.50 price objective on shares of Rithm Capital in a report on Thursday, January 23rd. Wedbush restated an “outperform” rating and set a $14.00 target price on shares of Rithm Capital in a research note on Thursday, November 7th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $13.00 price target on shares of Rithm Capital in a research note on Thursday, November 21st. One research analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $12.94.

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.