Rithm Capital Corp. (NYSE:RITM) Shares Bought by 1620 Investment Advisors Inc.

1620 Investment Advisors Inc. increased its stake in Rithm Capital Corp. (NYSE:RITM) by 2.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 46,035 shares of the real estate investment trust’s stock after purchasing an additional 960 shares during the period. 1620 Investment Advisors Inc.’s holdings in Rithm Capital were worth $499,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of RITM. Victory Capital Management Inc. lifted its stake in Rithm Capital by 10.9% during the 3rd quarter. Victory Capital Management Inc. now owns 199,333 shares of the real estate investment trust’s stock valued at $2,262,000 after acquiring an additional 19,596 shares during the period. Empowered Funds LLC lifted its stake in Rithm Capital by 8.3% during the 3rd quarter. Empowered Funds LLC now owns 15,824 shares of the real estate investment trust’s stock valued at $176,000 after acquiring an additional 1,216 shares during the period. Advisors Asset Management Inc. lifted its stake in Rithm Capital by 2.3% during the 3rd quarter. Advisors Asset Management Inc. now owns 119,344 shares of the real estate investment trust’s stock valued at $1,355,000 after acquiring an additional 2,654 shares during the period. Moors & Cabot Inc. lifted its stake in Rithm Capital by 3.1% during the 3rd quarter. Moors & Cabot Inc. now owns 80,459 shares of the real estate investment trust’s stock valued at $913,000 after acquiring an additional 2,428 shares during the period. Finally, Moran Wealth Management LLC acquired a new stake in Rithm Capital during the 3rd quarter valued at approximately $266,000. 44.92% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts recently issued reports on the stock. Keefe, Bruyette & Woods boosted their target price on shares of Rithm Capital from $13.00 to $13.50 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. JMP Securities reiterated a “market outperform” rating and issued a $12.50 target price on shares of Rithm Capital in a research note on Thursday, January 23rd. Royal Bank of Canada reiterated an “outperform” rating and issued a $13.00 target price on shares of Rithm Capital in a research note on Thursday, November 21st. Piper Sandler boosted their target price on shares of Rithm Capital from $11.50 to $12.50 and gave the company a “neutral” rating in a research note 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, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Rithm Capital presently has an average rating of “Buy” and a consensus target price of $13.25.

Rithm Capital Price Performance

Shares of NYSE RITM opened at $11.83 on Friday. The firm has a market cap of $6.16 billion, a PE ratio of 7.08 and a beta of 1.83. The firm has a fifty day moving average of $11.62 and a 200 day moving average of $11.24. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.35 and a current ratio of 1.09. Rithm Capital Corp. has a one year low of $10.38 and a one year high of $12.20.

Rithm Capital (NYSE:RITM) last released its 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 net margin of 17.79% and a return on equity of 18.15%. As a group, research analysts predict that Rithm Capital Corp. will post 1.93 EPS for the current fiscal year.

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.