Concurrent Investment Advisors LLC Grows Position in Rithm Capital Corp. (NYSE:RITM)

Concurrent Investment Advisors LLC lifted its holdings in shares of Rithm Capital Corp. (NYSE:RITM) by 28.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 108,684 shares of the real estate investment trust’s stock after acquiring an additional 24,039 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Rithm Capital were worth $1,177,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. Truvestments Capital LLC purchased a new position in Rithm Capital in the third quarter worth about $43,000. Wilmington Savings Fund Society FSB purchased a new position in Rithm Capital in the third quarter worth about $43,000. Householder Group Estate & Retirement Specialist LLC boosted its position in Rithm Capital by 86.7% in the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 4,439 shares of the real estate investment trust’s stock worth $48,000 after purchasing an additional 2,062 shares during the last quarter. Allworth Financial LP boosted its position in Rithm Capital by 281.2% in the third quarter. Allworth Financial LP now owns 8,695 shares of the real estate investment trust’s stock worth $99,000 after purchasing an additional 6,414 shares during the last quarter. Finally, FNY Investment Advisers LLC boosted its position in Rithm Capital by 8,600.0% in the fourth quarter. FNY Investment Advisers LLC now owns 8,700 shares of the real estate investment trust’s stock worth $94,000 after purchasing an additional 8,600 shares during the last quarter. 44.92% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

RITM has been the topic of a number of analyst reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $13.00 price objective on shares of Rithm Capital in a research report on Thursday, November 21st. Piper Sandler lifted their price objective on Rithm Capital from $11.50 to $12.50 and gave the company a “neutral” rating in a research report on Friday, February 7th. Wedbush reaffirmed an “outperform” rating and set a $14.00 price objective on shares of Rithm Capital in a research report on Thursday, November 7th. B. Riley raised Rithm Capital to a “strong-buy” rating in a research report on Tuesday, January 7th. Finally, Keefe, Bruyette & Woods lifted their price objective on Rithm Capital from $13.00 to $13.50 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. One analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Rithm Capital presently has a consensus rating of “Buy” and a consensus price target of $13.07.

Rithm Capital Stock Down 0.8 %

Shares of RITM opened at $11.89 on Friday. The business’s 50 day moving average is $11.31 and its 200 day moving average is $11.19. The company has a market capitalization of $6.19 billion, a PE ratio of 7.12 and a beta of 1.79. Rithm Capital Corp. has a 12-month low of $10.38 and a 12-month high of $12.10. The company has a current ratio of 1.09, a quick ratio of 1.35 and a debt-to-equity ratio of 1.74.

Rithm Capital (NYSE:RITM) last issued its earnings results on Thursday, February 6th. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.16. Rithm Capital had a return on equity of 18.15% and a net margin of 17.79%. Research analysts expect that Rithm Capital Corp. will post 1.93 earnings per share for the current fiscal year.

Rithm Capital Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 8.41%. The ex-dividend date was Tuesday, December 31st. Rithm Capital’s dividend payout ratio is currently 59.88%.

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.