Quadrant Capital Group LLC Acquires 1,211 Shares of Rithm Capital Corp. (NYSE:RITM)

Quadrant Capital Group LLC grew its holdings in shares of Rithm Capital Corp. (NYSE:RITM) by 35.2% in the fourth quarter, HoldingsChannel.com reports. The fund owned 4,655 shares of the real estate investment trust’s stock after purchasing an additional 1,211 shares during the period. Quadrant Capital Group LLC’s holdings in Rithm Capital were worth $50,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently modified their holdings of RITM. Envestnet Asset Management Inc. lifted its position in Rithm Capital by 144.4% during the fourth quarter. Envestnet Asset Management Inc. now owns 205,963 shares of the real estate investment trust’s stock valued at $2,231,000 after purchasing an additional 121,706 shares during the last quarter. Wedbush Securities Inc. increased its position in shares of Rithm Capital by 13.7% during the 4th quarter. Wedbush Securities Inc. now owns 231,682 shares of the real estate investment trust’s stock valued at $2,509,000 after purchasing an additional 27,924 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of Rithm Capital by 113.9% during the fourth quarter. Wells Fargo & Company MN now owns 1,464,456 shares of the real estate investment trust’s stock worth $15,860,000 after acquiring an additional 779,771 shares in the last quarter. Geode Capital Management LLC boosted its position in Rithm Capital by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 8,494,199 shares of the real estate investment trust’s stock valued at $92,021,000 after buying an additional 79,142 shares during the period. Finally, Cannell & Spears LLC lifted its stake in shares of Rithm Capital by 4.7% in the 4th quarter. Cannell & Spears LLC now owns 127,000 shares of the real estate investment trust’s stock valued at $1,375,000 after acquiring an additional 5,700 shares during the last quarter. Hedge funds and other institutional investors own 44.92% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. B. Riley upgraded Rithm Capital to a “strong-buy” rating in a research report on Tuesday, January 7th. Wedbush reiterated an “outperform” rating and set a $14.00 price target on shares of Rithm Capital in a report on Friday, March 28th. Piper Sandler boosted their price objective on shares of Rithm Capital from $11.50 to $12.50 and gave the company a “neutral” rating in a research report on Friday, February 7th. Finally, 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. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $13.25.

Rithm Capital Stock Up 1.8 %

Shares of NYSE RITM opened at $9.74 on Friday. The firm has a fifty day simple moving average of $11.51 and a two-hundred day simple moving average of $11.14. The firm has a market capitalization of $5.07 billion, a PE ratio of 5.83 and a beta of 1.36. The company has a current ratio of 1.09, a quick ratio of 1.35 and a debt-to-equity ratio of 1.74. Rithm Capital Corp. has a 12 month low of $9.13 and a 12 month high of $12.20.

Rithm Capital (NYSE:RITM) last issued its quarterly earnings data on Thursday, February 6th. The real estate investment trust reported $0.60 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 18.15%. Equities analysts expect that Rithm Capital Corp. will post 1.93 earnings per share for the current year.

Rithm Capital Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be given a dividend of $0.25 per share. The ex-dividend date is Monday, March 31st. This represents a $1.00 annualized dividend and a dividend yield of 10.26%. Rithm Capital’s dividend payout ratio is presently 59.88%.

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.