CCG Wealth Management LLC Takes $182,000 Position in Rithm Capital Corp. (NYSE:RITM)

CCG Wealth Management LLC purchased a new stake in Rithm Capital Corp. (NYSE:RITM) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 16,266 shares of the real estate investment trust’s stock, valued at approximately $182,000.

Several other hedge funds and other institutional investors also recently modified their holdings of RITM. Allianz Asset Management GmbH increased its holdings in Rithm Capital by 107.7% during the 4th quarter. Allianz Asset Management GmbH now owns 1,171,379 shares of the real estate investment trust’s stock worth $12,510,000 after acquiring an additional 607,413 shares during the period. Dynamic Technology Lab Private Ltd increased its holdings in shares of Rithm Capital by 14.1% in the 4th quarter. Dynamic Technology Lab Private Ltd now owns 21,181 shares of the real estate investment trust’s stock worth $226,000 after buying an additional 2,614 shares during the last quarter. Slagle Financial LLC increased its holdings in shares of Rithm Capital by 99.1% in the 4th quarter. Slagle Financial LLC now owns 474,538 shares of the real estate investment trust’s stock worth $5,068,000 after buying an additional 236,199 shares during the last quarter. Lewis Asset Management LLC bought a new position in shares of Rithm Capital in the 4th quarter worth $2,813,000. Finally, Melia Wealth LLC bought a new position in shares of Rithm Capital in the 1st quarter worth $2,370,000. Institutional investors own 44.92% of the company’s stock.

Analyst Upgrades and Downgrades

RITM has been the topic of a number of research analyst reports. B. Riley reissued a “buy” rating and issued a $14.00 price target (up previously from $13.00) on shares of Rithm Capital in a report on Friday, May 10th. JMP Securities reaffirmed a “market outperform” rating and issued a $11.00 price objective on shares of Rithm Capital in a research note on Thursday, April 18th. Wedbush reaffirmed an “outperform” rating and issued a $13.00 price objective on shares of Rithm Capital in a research note on Thursday, May 9th. Argus upped their price objective on shares of Rithm Capital from $11.00 to $12.00 and gave the company a “buy” rating in a research note on Tuesday, March 5th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Rithm Capital from $12.00 to $12.50 and gave the company an “outperform” rating in a research note on Thursday, May 2nd. One equities research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, Rithm Capital has an average rating of “Moderate Buy” and an average price target of $12.32.

Rithm Capital Stock Performance

Shares of RITM traded down $0.33 on Monday, reaching $10.58. The company’s stock had a trading volume of 3,588,649 shares, compared to its average volume of 3,269,301. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.29 and a quick ratio of 0.29. The stock has a market capitalization of $5.12 billion, a P/E ratio of 7.07 and a beta of 1.82. The stock’s 50 day simple moving average is $11.16 and its two-hundred day simple moving average is $10.91. Rithm Capital Corp. has a 12-month low of $8.87 and a 12-month high of $11.60.

Rithm Capital Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Monday, July 1st will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 9.45%. The ex-dividend date is Monday, July 1st. Rithm Capital’s dividend payout ratio is currently 66.67%.

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.