BostonPremier Wealth LLC Takes $394,000 Position in Rithm Capital Corp. (NYSE:RITM)

BostonPremier Wealth LLC bought a new stake in shares of Rithm Capital Corp. (NYSE:RITM) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 36,400 shares of the real estate investment trust’s stock, valued at approximately $394,000.

Other hedge funds also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. increased its holdings 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. Azora Capital LP grew its stake in Rithm Capital by 107.6% in the 3rd quarter. Azora Capital LP now owns 4,383,821 shares of the real estate investment trust’s stock valued at $49,756,000 after acquiring an additional 2,271,671 shares during the period. Soros Fund Management LLC purchased a new stake in Rithm Capital in the 3rd quarter worth $23,835,000. Seven Grand Managers LLC acquired a new stake in shares of Rithm Capital in the third quarter valued at about $11,918,000. Finally, Maven Securities LTD acquired a new position in shares of Rithm Capital during the 3rd quarter worth about $11,350,000. 44.92% of the stock is owned by institutional investors and hedge funds.

Rithm Capital Stock Up 0.0 %

Shares of RITM opened at $11.86 on Tuesday. The company’s 50-day moving average price is $11.16 and its 200 day moving average price is $11.14. Rithm Capital Corp. has a 12-month low of $10.06 and a 12-month high of $12.02. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.63. The firm has a market cap of $6.16 billion, a P/E ratio of 7.10 and a beta of 1.79.

Rithm Capital (NYSE:RITM) last issued its quarterly earnings data on Thursday, February 6th. The real estate investment trust reported $0.60 EPS for the quarter, topping the consensus estimate of $0.44 by $0.16. Rithm Capital had a net margin of 17.79% and a return on equity of 18.46%. On average, sell-side analysts forecast that Rithm Capital Corp. will post 1.92 earnings per share for the current year.

Rithm Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st were issued 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 8.44%. Rithm Capital’s dividend payout ratio is currently 59.88%.

Analyst Upgrades and Downgrades

RITM has been the subject of a number of research analyst reports. Wedbush reissued an “outperform” rating and set a $14.00 target price on shares of Rithm Capital in a report on Thursday, November 7th. Piper Sandler raised their price target on shares of Rithm Capital from $11.50 to $12.50 and gave the stock a “neutral” rating in a research note on Friday. Keefe, Bruyette & Woods increased their price objective on shares of Rithm Capital from $13.00 to $13.50 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. Royal Bank of Canada restated an “outperform” rating and set a $13.00 target price on shares of Rithm Capital in a report on Thursday, November 21st. Finally, B. Riley raised Rithm Capital to a “strong-buy” rating in a report on Tuesday, January 7th. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $12.94.

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.