Rithm Capital Corp. (NYSE:RITM) Shares Acquired by DAVENPORT & Co LLC

DAVENPORT & Co LLC lifted its holdings in shares of Rithm Capital Corp. (NYSE:RITM) by 136.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 57,450 shares of the real estate investment trust’s stock after buying an additional 33,150 shares during the quarter. DAVENPORT & Co LLC’s holdings in Rithm Capital were worth $622,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Geode Capital Management LLC raised its stake in Rithm Capital by 7.8% in the 3rd quarter. Geode Capital Management LLC now owns 8,415,057 shares of the real estate investment trust’s stock valued at $95,537,000 after purchasing an additional 610,698 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in Rithm Capital by 7.3% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,364,962 shares of the real estate investment trust’s stock valued at $60,892,000 after purchasing an additional 366,600 shares during the last quarter. JPMorgan Chase & Co. raised its stake in Rithm Capital by 119.1% in the 3rd 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 last quarter. Azora Capital LP raised 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 purchasing an additional 2,271,671 shares during the last quarter. Finally, Wellington Management Group LLP grew its holdings in Rithm Capital by 37.8% in the 3rd quarter. Wellington Management Group LLP now owns 3,567,917 shares of the real estate investment trust’s stock valued at $40,496,000 after buying an additional 978,954 shares in the last quarter. 44.92% of the stock is owned by institutional investors and hedge funds.

Rithm Capital Stock Performance

NYSE RITM opened at $11.84 on Friday. The stock has a market cap of $6.15 billion, a PE ratio of 11.95 and a beta of 1.79. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.63. Rithm Capital Corp. has a twelve month low of $10.06 and a twelve month high of $12.02. The stock has a fifty day simple moving average of $11.14 and a 200-day simple moving average of $11.14.

Rithm Capital (NYSE:RITM) last released its quarterly earnings results on Thursday, February 6th. The real estate investment trust reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.44 by $0.16. Rithm Capital had a return on equity of 17.54% and a net margin of 14.99%. Equities analysts anticipate that Rithm Capital Corp. will post 1.95 earnings per share for the current year.

Rithm Capital Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, December 31st were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 8.45%. The ex-dividend date was Tuesday, December 31st. Rithm Capital’s payout ratio is 101.01%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on RITM. Wedbush restated an “outperform” rating and issued a $14.00 target price on shares of Rithm Capital in a report on Thursday, November 7th. JMP Securities restated a “market outperform” rating and issued a $12.50 target price on shares of Rithm Capital in a report on Thursday, January 23rd. Piper Sandler upped their target price on Rithm Capital from $11.50 to $12.50 and gave the company a “neutral” rating in a report on Friday. B. Riley upgraded Rithm Capital to a “strong-buy” rating in a report on Tuesday, January 7th. Finally, Keefe, Bruyette & Woods upped their target price on Rithm Capital from $13.00 to $13.50 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $12.94.

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.