21,484 Shares in Rithm Capital Corp. (NYSE:RITM) Acquired by Convergence Investment Partners LLC

Convergence Investment Partners LLC bought 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 & Exchange Commission. The firm bought 21,484 shares of the real estate investment trust’s stock, valued at approximately $229,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in RITM. SG Americas Securities LLC boosted its holdings in Rithm Capital by 41.8% in the third quarter. SG Americas Securities LLC now owns 87,500 shares of the real estate investment trust’s stock worth $813,000 after purchasing an additional 25,790 shares during the last quarter. Exchange Traded Concepts LLC purchased a new stake in Rithm Capital in the third quarter worth approximately $177,000. Handelsbanken Fonder AB boosted its holdings in Rithm Capital by 47.7% in the third quarter. Handelsbanken Fonder AB now owns 111,494 shares of the real estate investment trust’s stock worth $1,036,000 after purchasing an additional 36,000 shares during the last quarter. Simplicity Solutions LLC boosted its holdings in Rithm Capital by 8.0% in the third quarter. Simplicity Solutions LLC now owns 16,346 shares of the real estate investment trust’s stock worth $152,000 after purchasing an additional 1,214 shares during the last quarter. Finally, Xponance Inc. boosted its holdings in Rithm Capital by 19.5% in the third quarter. Xponance Inc. now owns 20,112 shares of the real estate investment trust’s stock worth $187,000 after purchasing an additional 3,286 shares during the last quarter. Hedge funds and other institutional investors own 44.92% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Wedbush reiterated an “outperform” rating and issued a $13.00 price target on shares of Rithm Capital in a research report on Monday, February 26th. JMP Securities reiterated a “market outperform” rating and issued a $11.00 price target on shares of Rithm Capital in a research report on Thursday, April 18th. Keefe, Bruyette & Woods increased their price target on shares of Rithm Capital from $11.50 to $12.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 16th. Royal Bank of Canada reiterated an “outperform” rating and issued a $12.00 price target on shares of Rithm Capital in a research report on Monday, April 1st. Finally, Jonestrading increased their price target on shares of Rithm Capital from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Thursday, February 22nd. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $12.00.

Rithm Capital Stock Up 0.8 %

Shares of RITM stock opened at $11.21 on Monday. The company has a market capitalization of $5.42 billion, a price-to-earnings ratio of 10.19 and a beta of 1.82. Rithm Capital Corp. has a one year low of $7.59 and a one year high of $11.33. The company’s fifty day moving average price is $10.89 and its 200-day moving average price is $10.49. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.30 and a quick ratio of 0.30.

Rithm Capital (NYSE:RITM) last announced its quarterly earnings results on Wednesday, February 7th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.16. The company had revenue of $709.47 million for the quarter, compared to the consensus estimate of $887.04 million. Rithm Capital had a net margin of 17.15% and a return on equity of 18.49%. During the same period in the previous year, the firm posted $0.33 EPS. Sell-side analysts expect that Rithm Capital Corp. will post 1.69 EPS for the current fiscal year.

Rithm Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Monday, April 1st were paid a $0.25 dividend. The ex-dividend date was Thursday, March 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.92%. Rithm Capital’s payout ratio is currently 90.91%.

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.