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

Consolidated Portfolio Review Corp lifted its position in Rithm Capital Corp. (NYSE:RITM) by 30.6% in the 4th quarter, Holdings Channel.com reports. The fund owned 115,174 shares of the real estate investment trust’s stock after acquiring an additional 27,018 shares during the period. Consolidated Portfolio Review Corp’s holdings in Rithm Capital were worth $1,247,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. boosted its position in shares of Rithm Capital by 154.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,513 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 1,525 shares during the period. Truvestments Capital LLC bought a new stake in shares of Rithm Capital during the third quarter worth $43,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Rithm Capital during the third quarter valued at $43,000. Householder Group Estate & Retirement Specialist LLC grew its holdings in shares of Rithm Capital by 86.7% in the fourth 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 last quarter. Finally, Godsey & Gibb Inc. purchased a new position in Rithm Capital in the 3rd quarter worth about $51,000. 44.92% of the stock is owned by hedge funds and other institutional investors.

Rithm Capital Stock Performance

RITM stock opened at $11.89 on Friday. The firm has a 50-day simple moving average of $11.13 and a two-hundred day simple moving average of $11.14. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.35 and a current ratio of 1.35. Rithm Capital Corp. has a one year low of $9.97 and a one year high of $12.02. The firm has a market cap of $6.18 billion, a price-to-earnings ratio of 12.01 and a beta of 1.79.

Rithm Capital (NYSE:RITM) last announced its earnings results on Thursday, February 6th. The real estate investment trust reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.16. Rithm Capital had a net margin of 14.99% and a return on equity of 17.54%. On average, equities analysts forecast that Rithm Capital Corp. will post 1.95 EPS for the current fiscal year.

Rithm Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, December 31st were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 8.41%. The ex-dividend date was Tuesday, December 31st. Rithm Capital’s dividend payout ratio is currently 101.01%.

Analyst Upgrades and Downgrades

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

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.