14,016 Shares in Rithm Capital Corp. (NYSE:RITM) Purchased by Norden Group LLC

Norden Group LLC acquired a new stake in Rithm Capital Corp. (NYSE:RITM) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 14,016 shares of the real estate investment trust’s stock, valued at approximately $156,000.

Other institutional investors also recently modified their holdings of the company. Van ECK Associates Corp increased its holdings in shares of Rithm Capital by 9.4% in the first quarter. Van ECK Associates Corp now owns 2,023,375 shares of the real estate investment trust’s stock valued at $22,581,000 after purchasing an additional 174,523 shares in the last quarter. Commonwealth Equity Services LLC raised its stake in shares of Rithm Capital by 13.9% during the first quarter. Commonwealth Equity Services LLC now owns 456,351 shares of the real estate investment trust’s stock worth $5,093,000 after buying an additional 55,821 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in Rithm Capital by 33.0% in the first quarter. Principal Financial Group Inc. now owns 40,303 shares of the real estate investment trust’s stock valued at $450,000 after buying an additional 10,009 shares during the period. Mesirow Financial Investment Management Inc. bought a new position in Rithm Capital in the first quarter valued at approximately $112,000. Finally, Cambridge Investment Research Advisors Inc. grew its holdings in Rithm Capital by 2.4% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 270,977 shares of the real estate investment trust’s stock worth $3,024,000 after acquiring an additional 6,242 shares during the period. 44.92% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on RITM shares. JMP Securities reissued a “market outperform” rating and issued a $11.00 price target on shares of Rithm Capital in a research note on Thursday, April 18th. Keefe, Bruyette & Woods raised their target price on Rithm Capital from $12.00 to $12.50 and gave the stock an “outperform” rating in a report on Thursday, May 2nd. Piper Sandler upped their price target on Rithm Capital from $10.50 to $12.50 and gave the company a “neutral” rating in a research note on Tuesday, May 14th. Wedbush reissued an “outperform” rating and set a $13.00 price objective on shares of Rithm Capital in a research note on Thursday, May 9th. Finally, Royal Bank of Canada reiterated an “outperform” rating and issued a $12.00 target price on shares of Rithm Capital in a report on Monday, April 1st. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Rithm Capital currently has an average rating of “Moderate Buy” and a consensus target price of $12.32.

Rithm Capital Stock Performance

RITM opened at $11.10 on Monday. The company has a market capitalization of $5.37 billion, a price-to-earnings ratio of 7.40 and a beta of 1.82. The business’s 50-day moving average price is $11.08 and its two-hundred day moving average price is $10.89. Rithm Capital Corp. has a 1 year low of $8.87 and a 1 year high of $11.60. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.29 and a quick ratio of 0.29.

Rithm Capital Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Monday, July 1st will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 9.01%. The ex-dividend date is Monday, July 1st. Rithm Capital’s payout ratio is 66.67%.

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.