Sage Investment Counsel LLC Invests $534,000 in Rithm Capital Corp. (NYSE:RITM)

Sage Investment Counsel LLC bought a new position in Rithm Capital Corp. (NYSE:RITM) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 49,350 shares of the real estate investment trust’s stock, valued at approximately $534,000.

Several other hedge funds also recently made changes to their positions in the company. Charles Schwab Investment Management Inc. lifted its stake in shares of Rithm Capital by 7.3% in the third quarter. Charles Schwab Investment Management Inc. now owns 5,364,962 shares of the real estate investment trust’s stock valued at $60,892,000 after purchasing an additional 366,600 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Rithm Capital by 119.1% in the third quarter. JPMorgan Chase & Co. now owns 4,608,008 shares of the real estate investment trust’s stock valued at $52,301,000 after purchasing an additional 2,504,529 shares during the period. Van ECK Associates Corp lifted its stake in shares of Rithm Capital by 20.7% in the third quarter. Van ECK Associates Corp now owns 2,004,057 shares of the real estate investment trust’s stock valued at $21,163,000 after purchasing an additional 343,678 shares during the period. Neo Ivy Capital Management acquired a new stake in shares of Rithm Capital in the third quarter valued at about $1,476,000. Finally, EMC Capital Management lifted its stake in shares of Rithm Capital by 1,349.0% in the fourth quarter. EMC Capital Management now owns 35,371 shares of the real estate investment trust’s stock valued at $383,000 after purchasing an additional 32,930 shares during the period. Institutional investors and hedge funds own 44.92% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on RITM. B. Riley upgraded shares of Rithm Capital to a “strong-buy” rating in a research note on Tuesday, January 7th. JMP Securities restated a “market outperform” rating and set a $12.50 target price on shares of Rithm Capital in a research report on Thursday, January 23rd. Piper Sandler lifted their target price on shares of Rithm Capital from $11.50 to $12.50 and gave the stock a “neutral” rating in a research report on Friday, February 7th. Keefe, Bruyette & Woods lifted their target price on shares of Rithm Capital from $13.00 to $13.50 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. Finally, Royal Bank of Canada restated an “outperform” rating and set a $13.00 target price on shares of Rithm Capital in a research report on Thursday, November 21st. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Rithm Capital has an average rating of “Buy” and an average target price of $13.07.

Rithm Capital Stock Performance

Shares of NYSE RITM opened at $12.14 on Friday. The company has a market cap of $6.32 billion, a PE ratio of 7.27 and a beta of 1.79. Rithm Capital Corp. has a 12 month low of $10.38 and a 12 month high of $12.18. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.09 and a quick ratio of 1.35. The company has a 50-day simple moving average of $11.39 and a 200-day simple moving average of $11.21.

Rithm Capital (NYSE:RITM) last issued its quarterly 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%. On average, equities analysts anticipate 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 was paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st were issued a dividend of $0.25 per share. The ex-dividend date was Tuesday, December 31st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.24%. Rithm Capital’s dividend payout ratio (DPR) is presently 59.88%.

Rithm Capital 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.