Graypoint LLC Purchases New Position in Rithm Capital Corp. (NYSE:RITM)

Graypoint LLC acquired a new stake in Rithm Capital Corp. (NYSE:RITM) during the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 12,616 shares of the real estate investment trust’s stock, valued at approximately $137,000.

Other institutional investors also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. boosted its stake in shares of Rithm Capital by 154.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,513 shares of the real estate investment trust’s stock worth $27,000 after acquiring an additional 1,525 shares during the last quarter. Truvestments Capital LLC purchased a new stake in Rithm Capital in the third quarter valued at $43,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Rithm Capital in the 3rd quarter valued at $43,000. Godsey & Gibb Inc. purchased a new stake in shares of Rithm Capital in the 3rd quarter valued at $51,000. Finally, Future Financial Wealth Managment LLC purchased a new stake in shares of Rithm Capital in the 3rd quarter valued at $73,000. 44.92% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

RITM has been the subject of several analyst reports. Wedbush reissued an “outperform” rating and set a $14.00 target price on shares of Rithm Capital in a research note on Thursday, November 7th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $13.00 price objective on shares of Rithm Capital in a research note on Thursday, November 21st. 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. 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 given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average target price of $12.94.

Rithm Capital Trading Down 2.4 %

Shares of NYSE RITM opened at $10.70 on Monday. The stock’s 50 day moving average price is $10.93 and its two-hundred day moving average price is $11.10. Rithm Capital Corp. has a 52-week low of $9.97 and a 52-week high of $12.02. The stock has a market capitalization of $5.56 billion, a P/E ratio of 10.81 and a beta of 1.79. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.63.

Rithm Capital (NYSE:RITM) last posted its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.54 EPS for the quarter, beating the consensus estimate of $0.42 by $0.12. Rithm Capital had a return on equity of 17.54% and a net margin of 14.99%. The company had revenue of $619.51 million during the quarter, compared to analyst estimates of $1.11 billion. During the same period in the prior year, the company earned $0.58 earnings per share. On average, analysts anticipate that Rithm Capital Corp. will post 1.93 earnings per share for the current fiscal year.

Rithm Capital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.00 dividend on an annualized basis and a yield of 9.35%. Rithm Capital’s dividend payout ratio (DPR) is 101.01%.

About Rithm Capital

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.