Cookson Peirce & Co. Inc. Makes New $157,000 Investment in Rithm Capital Corp. (NYSE:RITM)

Cookson Peirce & Co. Inc. bought a new position in shares of Rithm Capital Corp. (NYSE:RITM) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 14,742 shares of the real estate investment trust’s stock, valued at approximately $157,000.

A number of other large investors have also made changes to their positions in RITM. Lazard Asset Management LLC acquired a new position in shares of Rithm Capital during the fourth quarter worth $34,000. American International Group Inc. acquired a new position in shares of Rithm Capital during the fourth quarter worth $36,000. Castleview Partners LLC increased its position in shares of Rithm Capital by 690.6% in the 3rd quarter. Castleview Partners LLC now owns 4,016 shares of the real estate investment trust’s stock valued at $37,000 after acquiring an additional 3,508 shares during the period. Advisory Services Network LLC increased its position in shares of Rithm Capital by 55.5% in the 1st quarter. Advisory Services Network LLC now owns 4,929 shares of the real estate investment trust’s stock valued at $39,000 after acquiring an additional 1,760 shares during the period. Finally, BluePath Capital Management LLC acquired a new position in shares of Rithm Capital in the 3rd quarter valued at $70,000. 44.92% of the stock is owned by institutional investors and hedge funds.

Rithm Capital Trading Down 0.1 %

RITM stock opened at $10.53 on Thursday. The company’s 50-day simple moving average is $10.80 and its 200-day simple moving average is $10.40. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.12. Rithm Capital Corp. has a 52-week low of $7.59 and a 52-week high of $11.33. The firm has a market cap of $5.10 billion, a P/E ratio of 9.57 and a beta of 1.82.

Rithm Capital (NYSE:RITM) last posted its earnings results on Wednesday, February 7th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.16. Rithm Capital had a net margin of 17.15% and a return on equity of 18.49%. The business had revenue of $709.47 million for the quarter, compared to analyst estimates of $887.04 million. During the same period in the prior year, the company posted $0.33 EPS. As a group, equities analysts forecast that Rithm Capital Corp. will post 1.69 EPS for the current fiscal year.

Rithm Capital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Monday, April 1st will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 9.50%. The ex-dividend date of this dividend is Thursday, March 28th. Rithm Capital’s payout ratio is currently 90.91%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on RITM shares. Royal Bank of Canada reissued an “outperform” rating and issued a $12.00 target price on shares of Rithm Capital in a research report on Monday, April 1st. Jonestrading upped their target price on Rithm Capital from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Thursday, February 22nd. Keefe, Bruyette & Woods upped their target price on Rithm Capital from $11.50 to $12.00 and gave the company an “outperform” rating in a research report on Tuesday. JMP Securities upped their target price on Rithm Capital from $10.50 to $11.00 and gave the company a “market outperform” rating in a research report on Thursday, January 18th. Finally, B. Riley upped their target price on Rithm Capital from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. Nine equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $12.00.

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.