Whittier Trust Co. Grows Stock Position in Rithm Capital Corp. (NYSE:RITM)

Whittier Trust Co. lifted its position in Rithm Capital Corp. (NYSE:RITM) by 1,860.7% in the 4th quarter, HoldingsChannel reports. The firm owned 10,274 shares of the real estate investment trust’s stock after purchasing an additional 9,750 shares during the quarter. Whittier Trust Co.’s holdings in Rithm Capital were worth $111,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently modified their holdings of the company. Truvestments Capital LLC purchased a new position in shares of Rithm Capital in the third quarter worth about $43,000. Wilmington Savings Fund Society FSB purchased a new position in shares of Rithm Capital in the third quarter worth about $43,000. Householder Group Estate & Retirement Specialist LLC raised its stake 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. FNY Investment Advisers LLC raised its stake in shares of Rithm Capital by 8,600.0% in 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 last quarter. Finally, Periscope Capital Inc. purchased a new position in shares of Rithm Capital in the third quarter worth about $114,000. 44.92% of the stock is currently owned by hedge funds and other institutional investors.

Rithm Capital Stock Performance

Shares of Rithm Capital stock opened at $11.59 on Monday. Rithm Capital Corp. has a one year low of $10.38 and a one year high of $12.20. The company has a market cap of $6.03 billion, a price-to-earnings ratio of 6.94 and a beta of 1.83. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.35 and a current ratio of 1.09. The business’s 50 day moving average price is $11.64 and its 200 day moving average price is $11.23.

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

Rithm Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 8.63%. Rithm Capital’s dividend payout ratio is currently 59.88%.

Wall Street Analyst Weigh In

Several analysts recently commented on RITM shares. Piper Sandler raised their target price on Rithm Capital from $11.50 to $12.50 and gave the stock a “neutral” rating in a report on Friday, February 7th. B. Riley raised Rithm Capital to a “strong-buy” rating in a report on Tuesday, January 7th. Keefe, Bruyette & Woods raised their target price on Rithm Capital from $13.00 to $13.50 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. Finally, JMP Securities reissued a “market outperform” rating and issued a $12.50 price objective on shares of Rithm Capital in a report on Thursday, January 23rd. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $13.25.

Rithm Capital Company 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.