Rithm Capital Corp. (NYSE:RITM) Stock Position Raised by Simplify Asset Management Inc.

Simplify Asset Management Inc. lifted its stake in shares of Rithm Capital Corp. (NYSE:RITM) by 30.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 175,780 shares of the real estate investment trust’s stock after purchasing an additional 40,980 shares during the period. Simplify Asset Management Inc.’s holdings in Rithm Capital were worth $1,904,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the stock. KLP Kapitalforvaltning AS acquired a new stake in shares of Rithm Capital during the fourth quarter valued at approximately $1,183,000. Sei Investments Co. raised its stake in Rithm Capital by 12.9% during the 4th quarter. Sei Investments Co. now owns 682,516 shares of the real estate investment trust’s stock valued at $7,392,000 after purchasing an additional 77,768 shares during the period. 1620 Investment Advisors Inc. lifted its holdings in shares of Rithm Capital by 2.1% in the fourth quarter. 1620 Investment Advisors Inc. now owns 46,035 shares of the real estate investment trust’s stock valued at $499,000 after purchasing an additional 960 shares in the last quarter. HUB Investment Partners LLC boosted its position in shares of Rithm Capital by 118.2% in the fourth quarter. HUB Investment Partners LLC now owns 35,413 shares of the real estate investment trust’s stock worth $384,000 after buying an additional 19,186 shares during the period. Finally, Whittier Trust Co. raised its position in Rithm Capital by 1,860.7% during the fourth quarter. Whittier Trust Co. now owns 10,274 shares of the real estate investment trust’s stock valued at $111,000 after buying an additional 9,750 shares during the period. 44.92% of the stock is owned by hedge funds and other institutional investors.

Rithm Capital Trading Down 2.1 %

Shares of NYSE RITM opened at $11.59 on Friday. The stock has a market cap of $6.03 billion, a price-to-earnings ratio of 6.94 and a beta of 1.83. The business has a 50 day simple moving average of $11.64 and a 200 day simple moving average of $11.23. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.35 and a current ratio of 1.09. Rithm Capital Corp. has a 52 week low of $10.38 and a 52 week high of $12.20.

Rithm Capital (NYSE:RITM) last released its quarterly earnings results on Thursday, February 6th. The real estate investment trust reported $0.60 earnings per share for the quarter, beating 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, research analysts predict that Rithm Capital Corp. will post 1.93 earnings per share for the current fiscal year.

Rithm Capital Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 8.63%. Rithm Capital’s dividend payout ratio (DPR) is presently 59.88%.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the company. B. Riley upgraded Rithm Capital to a “strong-buy” rating in a research report on Tuesday, January 7th. Keefe, Bruyette & Woods raised their price target on shares of Rithm Capital from $13.00 to $13.50 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. JMP Securities reaffirmed a “market outperform” rating and set a $12.50 price objective on shares of Rithm Capital in a research report on Thursday, January 23rd. Finally, Piper Sandler increased 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. One analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $13.25.

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.