Illinois Municipal Retirement Fund Raises Stock Holdings in Rithm Capital Corp. (NYSE:RITM)

Illinois Municipal Retirement Fund raised its position in shares of Rithm Capital Corp. (NYSE:RITM) by 25.0% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 287,716 shares of the real estate investment trust’s stock after purchasing an additional 57,567 shares during the quarter. Illinois Municipal Retirement Fund owned 0.06% of Rithm Capital worth $3,116,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Truvestments Capital LLC acquired a new stake in shares of Rithm Capital during the third quarter worth about $43,000. Wilmington Savings Fund Society FSB purchased a new position in Rithm Capital during the 3rd quarter worth approximately $43,000. Householder Group Estate & Retirement Specialist LLC lifted its stake in Rithm Capital by 86.7% during the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 4,439 shares of the real estate investment trust’s stock valued at $48,000 after acquiring an additional 2,062 shares during the period. Allworth Financial LP boosted its holdings in shares of Rithm Capital by 281.2% in 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 last quarter. Finally, FNY Investment Advisers LLC increased its stake in shares of Rithm Capital by 8,600.0% in the fourth quarter. FNY Investment Advisers LLC now owns 8,700 shares of the real estate investment trust’s stock worth $94,000 after acquiring an additional 8,600 shares during the period. 44.92% of the stock is owned by institutional investors and hedge funds.

Rithm Capital Stock Performance

Shares of RITM stock opened at $12.07 on Friday. 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 $12.18. The business’s 50 day moving average is $11.36 and its two-hundred day moving average is $11.20. The company has a market capitalization of $6.28 billion, a P/E ratio of 7.22 and a beta of 1.79.

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%. Analysts expect that Rithm Capital Corp. will post 1.93 EPS for the current fiscal year.

Rithm Capital Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st were given a $0.25 dividend. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.00 annualized dividend and a dividend yield of 8.29%. Rithm Capital’s dividend payout ratio (DPR) is 59.88%.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. Piper Sandler upped their price target on shares of Rithm Capital from $11.50 to $12.50 and gave the company a “neutral” rating in a report on Friday, February 7th. Royal Bank of Canada restated an “outperform” rating and issued a $13.00 target price on shares of Rithm Capital in a research note on Thursday, November 21st. Keefe, Bruyette & Woods raised their target price on Rithm Capital from $13.00 to $13.50 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. B. Riley raised Rithm Capital to a “strong-buy” rating in a report on Tuesday, January 7th. Finally, Wedbush reaffirmed an “outperform” rating and set a $14.00 price objective on shares of Rithm Capital in a research note on Thursday, November 7th. One investment analyst has rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price 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.