Rithm Capital Corp. (NYSE:RITM) Shares Acquired by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D increased its holdings in shares of Rithm Capital Corp. (NYSE:RITM) by 18.9% during the fourth quarter, Holdings Channel.com reports. The fund owned 382,722 shares of the real estate investment trust’s stock after buying an additional 60,922 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Rithm Capital were worth $4,145,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Strategic Financial Concepts LLC acquired a new stake in Rithm Capital in the fourth quarter valued at approximately $921,000. Allworth Financial LP lifted its position in shares of Rithm Capital by 1,437.5% during the 4th quarter. Allworth Financial LP now owns 133,688 shares of the real estate investment trust’s stock valued at $1,505,000 after buying an additional 124,993 shares in the last quarter. Rhumbline Advisers grew its stake in Rithm Capital by 7.7% in the 4th quarter. Rhumbline Advisers now owns 495,456 shares of the real estate investment trust’s stock valued at $5,366,000 after acquiring an additional 35,405 shares during the period. Allspring Global Investments Holdings LLC grew its stake in Rithm Capital by 15.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 21,683 shares of the real estate investment trust’s stock valued at $235,000 after acquiring an additional 2,978 shares during the period. Finally, Essex Financial Services Inc. increased its holdings in Rithm Capital by 8.1% in the 4th quarter. Essex Financial Services Inc. now owns 17,131 shares of the real estate investment trust’s stock worth $186,000 after acquiring an additional 1,277 shares in the last quarter. Hedge funds and other institutional investors own 44.92% of the company’s stock.

Rithm Capital Stock Down 0.4 %

Shares of NYSE:RITM opened at $11.94 on Thursday. Rithm Capital Corp. has a 52-week low of $10.38 and a 52-week high of $12.10. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.63. The business has a fifty day moving average of $11.28 and a two-hundred day moving average of $11.17. The stock has a market cap of $6.20 billion, a P/E ratio of 7.15 and a beta of 1.79.

Rithm Capital (NYSE:RITM) last released its quarterly earnings data on Thursday, February 6th. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.44 by $0.16. Rithm Capital had a net margin of 17.79% and a return on equity of 18.46%. On average, research analysts expect that Rithm Capital Corp. will post 1.93 earnings per share for the current year.

Rithm Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, December 31st were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 8.38%. The ex-dividend date was Tuesday, December 31st. Rithm Capital’s dividend payout ratio is presently 59.88%.

Wall Street Analyst Weigh In

Several research firms have issued reports on RITM. Piper Sandler increased their price objective on shares of Rithm Capital from $11.50 to $12.50 and gave the company a “neutral” rating in a report on Friday, February 7th. Royal Bank of Canada reiterated an “outperform” rating and issued a $13.00 price objective on shares of Rithm Capital in a report on Thursday, November 21st. B. Riley raised Rithm Capital to a “strong-buy” rating in a report on Tuesday, January 7th. JMP Securities reaffirmed a “market outperform” rating and issued a $12.50 price target on shares of Rithm Capital in a research note on Thursday, January 23rd. Finally, Wedbush reiterated an “outperform” rating and set a $14.00 price target on shares of Rithm Capital in a research report on Thursday, November 7th. One equities research analyst has rated the stock with a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus 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.