KBC Group NV Purchases 6,872 Shares of Rithm Capital Corp. (NYSE:RITM)

KBC Group NV grew its position in Rithm Capital Corp. (NYSE:RITM) by 59.5% in the fourth quarter, HoldingsChannel.com reports. The fund owned 18,423 shares of the real estate investment trust’s stock after buying an additional 6,872 shares during the quarter. KBC Group NV’s holdings in Rithm Capital were worth $200,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of RITM. SeaCrest Wealth Management LLC boosted its stake in Rithm Capital by 1.0% in the fourth quarter. SeaCrest Wealth Management LLC now owns 94,566 shares of the real estate investment trust’s stock worth $1,024,000 after purchasing an additional 951 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of Rithm Capital by 4.1% in the second quarter. AQR Capital Management LLC now owns 29,848 shares of the real estate investment trust’s stock valued at $326,000 after buying an additional 1,183 shares during the last quarter. Empowered Funds LLC lifted its position in Rithm Capital by 8.3% during the 3rd quarter. Empowered Funds LLC now owns 15,824 shares of the real estate investment trust’s stock worth $176,000 after buying an additional 1,216 shares in the last quarter. HB Wealth Management LLC grew its holdings in Rithm Capital by 10.4% during the 4th quarter. HB Wealth Management LLC now owns 15,024 shares of the real estate investment trust’s stock worth $163,000 after acquiring an additional 1,411 shares during the last quarter. Finally, Atomi Financial Group Inc. increased its position in Rithm Capital by 6.4% in the 3rd quarter. Atomi Financial Group Inc. now owns 24,711 shares of the real estate investment trust’s stock valued at $280,000 after acquiring an additional 1,481 shares in the last quarter. 44.92% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on RITM. Royal Bank of Canada reissued an “outperform” rating and set a $13.00 price target on shares of Rithm Capital in a research note on Thursday, November 21st. B. Riley raised Rithm Capital to a “strong-buy” rating in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods upped their price target on Rithm Capital from $13.00 to $13.50 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. Wedbush reiterated an “outperform” rating and issued a $14.00 price objective on shares of Rithm Capital in a research report on Thursday, November 7th. Finally, JMP Securities restated a “market outperform” rating and set a $12.50 target price on shares of Rithm Capital in a research report on Thursday, January 23rd. One research 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. Based on data from MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $12.94.

Rithm Capital Stock Up 1.2 %

Shares of NYSE:RITM opened at $11.47 on Wednesday. The company has a 50 day moving average price of $11.12 and a two-hundred day moving average price of $11.14. The company has a market capitalization of $5.96 billion, a PE ratio of 11.58 and a beta of 1.79. Rithm Capital Corp. has a 52 week low of $9.97 and a 52 week high of $12.02. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.35 and a current ratio of 1.35.

Rithm Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st were issued a dividend of $0.25 per share. The ex-dividend date was Tuesday, December 31st. This represents a $1.00 annualized dividend and a yield of 8.72%. Rithm Capital’s dividend payout ratio is presently 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.