Longboard Asset Management LP Invests $201,000 in Rithm Capital Corp. (NYSE:RITM)

Longboard Asset Management LP purchased a new position in Rithm Capital Corp. (NYSE:RITM) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 18,592 shares of the real estate investment trust’s stock, valued at approximately $201,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Rithm Capital by 154.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,513 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 1,525 shares during the last quarter. Truvestments Capital LLC purchased a new position in Rithm Capital during the third quarter valued at $43,000. Wilmington Savings Fund Society FSB purchased a new position in Rithm Capital during the third quarter valued at $43,000. Householder Group Estate & Retirement Specialist LLC lifted its position in 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 valued at $48,000 after purchasing an additional 2,062 shares in the last quarter. Finally, Godsey & Gibb Inc. purchased a new position in Rithm Capital during the third quarter valued at $51,000. 44.92% of the stock is currently owned by hedge funds and other institutional investors.

Rithm Capital Trading Up 1.2 %

Shares of RITM stock opened at $11.47 on Wednesday. Rithm Capital Corp. has a 12-month low of $9.97 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 stock’s 50-day moving average price is $11.12 and its 200-day moving average price is $11.14. The stock has a market capitalization of $5.96 billion, a price-to-earnings ratio of 11.58 and a beta of 1.79.

Rithm Capital Announces Dividend

The company also recently announced 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 8.72%. Rithm Capital’s dividend payout ratio (DPR) is 101.01%.

Wall Street Analysts Forecast Growth

RITM has been the topic of several analyst reports. B. Riley upgraded Rithm Capital to a “strong-buy” rating in a research report on Tuesday, January 7th. JMP Securities reiterated a “market outperform” rating and set a $12.50 target price on shares of Rithm Capital in a research report on Thursday, January 23rd. Keefe, Bruyette & Woods raised their price target on 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 reissued an “outperform” rating and set a $13.00 price target on shares of Rithm Capital in a report on Thursday, November 21st. Finally, Wedbush reissued an “outperform” rating and set a $14.00 price target on shares of Rithm Capital in a report on Thursday, November 7th. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus 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.