Altshuler Shaham Ltd Takes Position in Rithm Capital Corp. (NYSE:RITM)

Altshuler Shaham Ltd purchased a new position in Rithm Capital Corp. (NYSE:RITM) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 4,027 shares of the real estate investment trust’s stock, valued at approximately $43,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Parkside Financial Bank & Trust increased its position in shares of Rithm Capital by 605.1% during the fourth quarter. Parkside Financial Bank & Trust now owns 2,489 shares of the real estate investment trust’s stock valued at $27,000 after acquiring an additional 2,136 shares in the last quarter. GAMMA Investing LLC purchased a new position in shares of Rithm Capital in the fourth quarter worth $34,000. Castleview Partners LLC lifted its holdings in shares of Rithm Capital by 690.6% during the third quarter. Castleview Partners LLC now owns 4,016 shares of the real estate investment trust’s stock valued at $37,000 after purchasing an additional 3,508 shares in the last quarter. Harvest Fund Management Co. Ltd purchased a new stake in shares of Rithm Capital during the third quarter valued at $94,000. Finally, Meeder Asset Management Inc. bought a new stake in Rithm Capital in the 4th quarter worth about $95,000. Institutional investors own 44.92% of the company’s stock.

Rithm Capital Stock Performance

RITM traded down $0.10 during midday trading on Wednesday, reaching $11.21. The company had a trading volume of 2,383,183 shares, compared to its average volume of 3,449,459. Rithm Capital Corp. has a 1 year low of $7.80 and a 1 year high of $11.45. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.12. The company has a market cap of $5.42 billion, a P/E ratio of 7.47 and a beta of 1.80. The business has a 50-day moving average of $10.99 and a two-hundred day moving average of $10.59.

Rithm Capital (NYSE:RITM) last released its earnings results on Wednesday, February 7th. The real estate investment trust reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.16. The company had revenue of $709.47 million for the quarter, compared to analysts’ expectations of $887.04 million. Rithm Capital had a net margin of 19.77% and a return on equity of 19.38%. During the same quarter last year, the business earned $0.33 EPS. As a group, equities research analysts predict that Rithm Capital Corp. will post 1.69 earnings per share for the current fiscal year.

Rithm Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Monday, April 1st were given a $0.25 dividend. The ex-dividend date was Thursday, March 28th. This represents a $1.00 annualized dividend and a dividend yield of 8.92%. Rithm Capital’s payout ratio is 66.67%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. Wedbush restated an “outperform” rating and set a $13.00 target price on shares of Rithm Capital in a research note on Monday, February 26th. Argus raised their target price on shares of Rithm Capital from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Tuesday, March 5th. JMP Securities reiterated a “market outperform” rating and set a $11.00 target price on shares of Rithm Capital in a research note on Thursday, April 18th. Jonestrading raised their price target on Rithm Capital from $11.00 to $12.00 and gave the stock a “buy” rating in a research note on Thursday, February 22nd. Finally, B. Riley upped their price objective on Rithm Capital from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. Nine investment analysts have rated the stock with a buy rating, According to MarketBeat, Rithm Capital currently has an average rating of “Buy” and an average price target of $12.05.

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.