Van ECK Associates Corp Raises Stake in Rithm Capital Corp. (NYSE:RITM)

Van ECK Associates Corp lifted its stake in shares of Rithm Capital Corp. (NYSE:RITM) by 32.7% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,848,852 shares of the real estate investment trust’s stock after acquiring an additional 456,026 shares during the period. Van ECK Associates Corp’s holdings in Rithm Capital were worth $19,746,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Jump Financial LLC lifted its position in Rithm Capital by 668.7% in the third quarter. Jump Financial LLC now owns 215,492 shares of the real estate investment trust’s stock valued at $2,002,000 after buying an additional 187,460 shares during the last quarter. Lewis Asset Management LLC acquired a new stake in Rithm Capital in the 4th quarter valued at approximately $2,813,000. Capula Management Ltd acquired a new stake in Rithm Capital in the 3rd quarter valued at approximately $910,000. Ritholtz Wealth Management purchased a new stake in Rithm Capital in the fourth quarter valued at approximately $114,000. Finally, Invesco Ltd. boosted its holdings in Rithm Capital by 67.0% during the 3rd quarter. Invesco Ltd. now owns 1,198,412 shares of the real estate investment trust’s stock valued at $11,133,000 after acquiring an additional 480,769 shares during the period. Institutional investors and hedge funds own 44.92% of the company’s stock.

Analyst Upgrades and Downgrades

RITM has been the topic of several analyst reports. Argus increased their price objective on Rithm Capital from $11.00 to $12.00 and gave the company a “buy” rating in a research note on Tuesday, March 5th. Keefe, Bruyette & Woods increased their target price on shares of Rithm Capital from $11.50 to $12.00 and gave the company an “outperform” rating in a report on Tuesday, April 16th. Jonestrading upped their target price on Rithm Capital from $11.00 to $12.00 and gave the company a “buy” rating in a report on Thursday, February 22nd. B. Riley upped their target price on shares of Rithm Capital from $12.00 to $13.00 and gave the company a “buy” rating in a report on Wednesday, February 21st. Finally, Wedbush reissued an “outperform” rating and set a $13.00 price target on shares of Rithm Capital in a research note on Monday, February 26th. Nine research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and an average target price of $12.00.

Rithm Capital Trading Up 0.4 %

Shares of NYSE RITM opened at $11.17 on Thursday. The company has a current ratio of 0.30, a quick ratio of 0.30 and a debt-to-equity ratio of 0.12. The firm has a market capitalization of $5.40 billion, a PE ratio of 7.44 and a beta of 1.80. The business has a 50-day moving average price of $10.92 and a two-hundred day moving average price of $10.52. Rithm Capital Corp. has a one year low of $7.59 and a one year high of $11.41.

Rithm Capital (NYSE:RITM) last posted its earnings results on Wednesday, February 7th. The real estate investment trust reported $0.51 EPS for the quarter, topping the consensus estimate of $0.35 by $0.16. The firm had revenue of $709.47 million for the quarter, compared to the consensus estimate of $887.04 million. Rithm Capital had a net margin of 19.77% and a return on equity of 19.38%. During the same period in the prior year, the business posted $0.33 earnings per share. As a group, analysts predict that Rithm Capital Corp. will post 1.69 earnings per share for the current fiscal year.

Rithm Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Monday, April 1st were given a $0.25 dividend. The ex-dividend date was Thursday, March 28th. This represents a $1.00 annualized dividend and a dividend yield of 8.96%. Rithm Capital’s dividend payout ratio is 66.67%.

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.