Harbour Investments Inc. Boosts Stock Holdings in Rithm Capital Corp. (NYSE:RITM)

Harbour Investments Inc. lifted its position in shares of Rithm Capital Corp. (NYSE:RITM) by 2.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 104,116 shares of the real estate investment trust’s stock after purchasing an additional 2,142 shares during the period. Harbour Investments Inc.’s holdings in Rithm Capital were worth $1,128,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Truvestments Capital LLC purchased a new stake in shares of Rithm Capital during the third quarter worth about $43,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Rithm Capital during the third quarter worth about $43,000. Householder Group Estate & Retirement Specialist LLC boosted its holdings 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 purchasing an additional 2,062 shares during the period. FNY Investment Advisers LLC boosted its holdings in shares of 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 worth $94,000 after purchasing an additional 8,600 shares during the period. Finally, Periscope Capital Inc. purchased a new stake in shares of Rithm Capital during the third quarter worth about $114,000. 44.92% of the stock is currently owned by hedge funds and other institutional investors.

Rithm Capital Trading Down 0.6 %

NYSE:RITM opened at $11.70 on Wednesday. The company’s 50 day moving average price is $11.58 and its 200-day moving average price is $11.23. Rithm Capital Corp. has a 52 week low of $10.38 and a 52 week high of $12.20. The company has a quick ratio of 1.35, a current ratio of 1.09 and a debt-to-equity ratio of 1.74. The stock has a market cap of $6.09 billion, a price-to-earnings ratio of 7.00 and a beta of 1.83.

Rithm Capital (NYSE:RITM) last posted its quarterly earnings results on Thursday, February 6th. The real estate investment trust reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.16. Rithm Capital had a net margin of 17.79% and a return on equity of 18.15%. On average, equities research analysts forecast that Rithm Capital Corp. will post 1.93 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on RITM. JMP Securities reiterated a “market outperform” rating and set a $12.50 target price on shares of Rithm Capital in a report on Thursday, January 23rd. B. Riley raised shares of Rithm Capital to a “strong-buy” rating in a research note on Tuesday, January 7th. Piper Sandler increased their price target on shares of Rithm Capital from $11.50 to $12.50 and gave the stock a “neutral” rating in a research note on Friday, February 7th. Royal Bank of Canada reissued an “outperform” rating and issued a $13.00 price target on shares of Rithm Capital in a research note on Thursday, November 21st. Finally, Keefe, Bruyette & Woods increased their price target on shares of Rithm Capital from $13.00 to $13.50 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. One analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $13.25.

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.