World Equity Group Inc. Purchases 144,100 Shares of Rithm Capital Corp. (NYSE:RITM)

World Equity Group Inc. lifted its stake in Rithm Capital Corp. (NYSE:RITM) by 87.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 309,000 shares of the real estate investment trust’s stock after purchasing an additional 144,100 shares during the quarter. World Equity Group Inc. owned about 0.06% of Rithm Capital worth $3,346,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of RITM. Creative Planning boosted its holdings in shares of Rithm Capital by 20.6% in the 3rd quarter. Creative Planning now owns 77,109 shares of the real estate investment trust’s stock worth $875,000 after purchasing an additional 13,152 shares during the period. International Assets Investment Management LLC boosted its holdings in shares of Rithm Capital by 895.6% in the 3rd quarter. International Assets Investment Management LLC now owns 167,617 shares of the real estate investment trust’s stock worth $1,902,000 after purchasing an additional 150,782 shares during the period. Highland Capital Management LLC boosted its holdings in shares of Rithm Capital by 10.2% in the 3rd quarter. Highland Capital Management LLC now owns 54,125 shares of the real estate investment trust’s stock worth $614,000 after purchasing an additional 5,000 shares during the period. Allworth Financial LP boosted its holdings in Rithm Capital by 281.2% during the 3rd quarter. Allworth Financial LP now owns 8,695 shares of the real estate investment trust’s stock valued at $99,000 after acquiring an additional 6,414 shares during the period. Finally, PFG Investments LLC boosted its holdings in Rithm Capital by 2.9% during the 3rd quarter. PFG Investments LLC now owns 65,262 shares of the real estate investment trust’s stock valued at $741,000 after acquiring an additional 1,825 shares during the period. Hedge funds and other institutional investors own 44.92% of the company’s stock.

Rithm Capital Stock Performance

Shares of RITM stock opened at $11.89 on Friday. The company has a market capitalization of $6.19 billion, a P/E ratio of 7.12 and a beta of 1.79. The business’s 50 day moving average is $11.31 and its two-hundred day moving average is $11.19. 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 Corp. has a 12-month low of $10.38 and a 12-month high of $12.10.

Rithm Capital (NYSE:RITM) last announced its earnings results on Thursday, February 6th. The real estate investment trust reported $0.60 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%. Analysts expect that Rithm Capital Corp. will post 1.93 EPS for the current fiscal year.

Rithm Capital Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.41%. Rithm Capital’s payout ratio is currently 59.88%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on RITM. Piper Sandler lifted their target price on Rithm Capital from $11.50 to $12.50 and gave the company a “neutral” rating in a research report on Friday, February 7th. Wedbush reaffirmed an “outperform” rating and set a $14.00 target price on shares of Rithm Capital in a research report on Thursday, November 7th. Keefe, Bruyette & Woods boosted their price target on Rithm Capital from $13.00 to $13.50 and gave the stock an “outperform” rating in a research report on Tuesday, December 3rd. JMP Securities reissued a “market outperform” rating and issued a $12.50 price target on shares of Rithm Capital in a research report on Thursday, January 23rd. Finally, B. Riley raised Rithm Capital to a “strong-buy” rating in a research report on Tuesday, January 7th. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Buy” and a consensus price target of $13.07.

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.