Sterling Capital Management LLC Has $1.59 Million Stock Position in Rithm Capital Corp. (NYSE:RITM)

Sterling Capital Management LLC grew its stake in Rithm Capital Corp. (NYSE:RITM) by 9.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 147,106 shares of the real estate investment trust’s stock after acquiring an additional 12,229 shares during the period. Sterling Capital Management LLC’s holdings in Rithm Capital were worth $1,593,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Verition Fund Management LLC bought a new stake in Rithm Capital during the 3rd quarter worth about $203,000. Quantinno Capital Management LP grew its holdings in Rithm Capital by 74.1% during the 3rd quarter. Quantinno Capital Management LP now owns 17,470 shares of the real estate investment trust’s stock worth $198,000 after acquiring an additional 7,434 shares during the period. MML Investors Services LLC lifted its stake in shares of Rithm Capital by 9.8% in the 3rd quarter. MML Investors Services LLC now owns 95,352 shares of the real estate investment trust’s stock valued at $1,082,000 after purchasing an additional 8,547 shares during the period. Geode Capital Management LLC grew its stake in shares of Rithm Capital by 7.8% during the third quarter. Geode Capital Management LLC now owns 8,415,057 shares of the real estate investment trust’s stock worth $95,537,000 after purchasing an additional 610,698 shares during the period. Finally, Sanctuary Advisors LLC boosted its holdings in Rithm Capital by 19.3% during the third quarter. Sanctuary Advisors LLC now owns 18,433 shares of the real estate investment trust’s stock worth $202,000 after buying an additional 2,988 shares during the last quarter. 44.92% of the stock is owned by institutional investors.

Rithm Capital Trading Up 3.1 %

RITM opened at $10.06 on Tuesday. The company has a 50-day simple moving average of $11.45 and a 200 day simple moving average of $11.12. The stock has a market capitalization of $5.24 billion, a price-to-earnings ratio of 6.02 and a beta of 1.36. The company has a quick ratio of 1.35, a current ratio of 1.09 and a debt-to-equity ratio of 1.74. Rithm Capital Corp. has a twelve month low of $9.13 and a twelve month high of $12.20.

Rithm Capital (NYSE:RITM) last posted its earnings results 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 net margin of 17.79% and a return on equity of 18.15%. Analysts predict that Rithm Capital Corp. will post 1.93 EPS for the current fiscal year.

Rithm Capital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.00 dividend on an annualized basis and a yield of 9.94%. Rithm Capital’s payout ratio is presently 59.88%.

Analyst Upgrades and Downgrades

RITM has been the topic of several recent analyst reports. JMP Securities reissued a “market outperform” rating and set a $12.50 price objective on shares of Rithm Capital in a research note 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 upped their price objective on Rithm Capital from $11.50 to $12.50 and gave the stock a “neutral” rating in a research report on Friday, February 7th. Finally, Wedbush reissued an “outperform” rating and set a $14.00 price target on shares of Rithm Capital in a research report on Friday, March 28th. 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 company’s stock. According to MarketBeat.com, the company presently has a consensus 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.