Strategic Financial Concepts LLC Takes Position in Rithm Capital Corp. (NYSE:RITM)

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

Several other institutional investors have also recently made changes to their positions in RITM. Truvestments Capital LLC bought a new position in Rithm Capital in the 3rd quarter worth approximately $43,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Rithm Capital in the third quarter worth $43,000. Householder Group Estate & Retirement Specialist LLC boosted its position in shares of Rithm Capital by 86.7% during 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 acquiring an additional 2,062 shares during the last quarter. FNY Investment Advisers LLC grew its stake in Rithm Capital by 8,600.0% during the fourth quarter. FNY Investment Advisers LLC now owns 8,700 shares of the real estate investment trust’s stock valued at $94,000 after acquiring an additional 8,600 shares in the last quarter. Finally, Allworth Financial LP increased its holdings in Rithm Capital by 281.2% in the 3rd quarter. Allworth Financial LP now owns 8,695 shares of the real estate investment trust’s stock valued at $99,000 after acquiring an additional 6,414 shares during the last quarter. Hedge funds and other institutional investors own 44.92% of the company’s stock.

Rithm Capital Price Performance

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

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%. Equities analysts expect that Rithm Capital Corp. will post 1.92 EPS for the current year.

Rithm Capital Announces Dividend

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

Analyst Ratings Changes

Several research analysts have commented on the stock. JMP Securities reissued a “market outperform” rating and set a $12.50 price objective on shares of Rithm Capital in a report on Thursday, January 23rd. Royal Bank of Canada reissued an “outperform” rating and set a $13.00 price target on shares of Rithm Capital in a research note on Thursday, November 21st. Keefe, Bruyette & Woods lifted their price objective on Rithm Capital from $13.00 to $13.50 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. Piper Sandler increased their target price on Rithm Capital from $11.50 to $12.50 and gave the company a “neutral” rating in a research report on Friday, February 7th. Finally, B. Riley raised shares of Rithm Capital to a “strong-buy” rating in a report on Tuesday, January 7th. One analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus 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.