Rithm Capital Corp. (NYSE:RITM) Shares Bought by Summit Securities Group LLC

Summit Securities Group LLC grew its stake in Rithm Capital Corp. (NYSE:RITM) by 415.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,200 shares of the real estate investment trust’s stock after purchasing an additional 18,700 shares during the quarter. Summit Securities Group LLC’s holdings in Rithm Capital were worth $251,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of RITM. Wilmington Savings Fund Society FSB acquired a new stake in Rithm Capital in the 3rd quarter worth about $43,000. Householder Group Estate & Retirement Specialist LLC increased its position in shares of Rithm Capital by 86.7% during the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 4,439 shares of the real estate investment trust’s stock worth $48,000 after purchasing an additional 2,062 shares in the last quarter. FNY Investment Advisers LLC raised its stake in Rithm Capital by 8,600.0% in the 4th quarter. FNY Investment Advisers LLC now owns 8,700 shares of the real estate investment trust’s stock valued at $94,000 after purchasing an additional 8,600 shares during the last quarter. Whittier Trust Co. lifted its holdings in Rithm Capital by 1,860.7% in the 4th quarter. Whittier Trust Co. now owns 10,274 shares of the real estate investment trust’s stock valued at $111,000 after purchasing an additional 9,750 shares in the last quarter. Finally, Perigon Wealth Management LLC acquired a new stake in Rithm Capital during the 4th quarter worth $120,000. Institutional investors and hedge funds own 44.92% of the company’s stock.

Rithm Capital Stock Performance

NYSE RITM opened at $11.39 on Friday. The stock has a market cap of $5.93 billion, a PE ratio of 6.82 and a beta of 1.83. Rithm Capital Corp. has a twelve month low of $10.38 and a twelve month high of $12.20. The stock has a fifty day simple moving average of $11.69 and a 200-day simple moving average of $11.23. The company has a current ratio of 1.09, a quick ratio of 1.35 and a debt-to-equity ratio of 1.74.

Rithm Capital (NYSE:RITM) last announced its earnings results on Thursday, February 6th. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.16. Rithm Capital had a return on equity of 18.15% and a net margin of 17.79%. Equities analysts anticipate that Rithm Capital Corp. will post 1.93 earnings per share for the current year.

Rithm Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.00 dividend on an annualized basis and a yield of 8.78%. Rithm Capital’s dividend payout ratio (DPR) is presently 59.88%.

Wall Street Analyst Weigh In

RITM has been the topic of a number of recent research reports. B. Riley upgraded shares of Rithm Capital to a “strong-buy” rating in a research report on Tuesday, January 7th. JMP Securities restated a “market outperform” rating and issued a $12.50 price target on shares of Rithm Capital in a research report on Thursday, January 23rd. Wedbush reiterated an “outperform” rating and set a $14.00 price objective on shares of Rithm Capital in a research report on Friday. Piper Sandler upped their target price on Rithm Capital from $11.50 to $12.50 and gave the company a “neutral” rating in a report on Friday, February 7th. Finally, Keefe, Bruyette & Woods boosted their price target on shares of Rithm Capital from $13.00 to $13.50 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. One research 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, the stock presently has an average rating of “Buy” and a consensus target price of $13.25.

About Rithm Capital

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.