Magnetar Financial LLC Acquires 23,901 Shares of Rithm Capital Corp. (NYSE:RITM)

Magnetar Financial LLC grew its holdings in shares of Rithm Capital Corp. (NYSE:RITM) by 69.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 58,107 shares of the real estate investment trust’s stock after purchasing an additional 23,901 shares during the quarter. Magnetar Financial LLC’s holdings in Rithm Capital were worth $629,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of RITM. Truvestments Capital LLC bought a new position in shares of Rithm Capital during the 3rd quarter valued at $43,000. Wilmington Savings Fund Society FSB bought a new position in shares of Rithm Capital during the 3rd quarter valued at $43,000. Householder Group Estate & Retirement Specialist LLC raised its holdings in shares of Rithm Capital by 86.7% during the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 4,439 shares of the real estate investment trust’s stock valued at $48,000 after purchasing an additional 2,062 shares in the last quarter. FNY Investment Advisers LLC raised its holdings in shares of Rithm Capital by 8,600.0% during the 4th quarter. FNY Investment Advisers LLC now owns 8,700 shares of the real estate investment trust’s stock valued at $94,000 after purchasing an additional 8,600 shares in the last quarter. Finally, Periscope Capital Inc. bought a new position in shares of Rithm Capital during the 3rd quarter valued at $114,000. Institutional investors own 44.92% of the company’s stock.

Rithm Capital Stock Performance

NYSE RITM opened at $11.59 on Friday. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.09 and a quick ratio of 1.35. The firm has a market capitalization of $6.03 billion, a price-to-earnings ratio of 6.94 and a beta of 1.83. The company’s fifty day moving average is $11.64 and its two-hundred day moving average is $11.23. Rithm Capital Corp. has a 52-week low of $10.38 and a 52-week high of $12.20.

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

Rithm Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 8.63%. Rithm Capital’s dividend payout ratio (DPR) is currently 59.88%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on RITM shares. Piper Sandler lifted their target price on shares of Rithm Capital from $11.50 to $12.50 and gave the stock a “neutral” rating in a report on Friday, February 7th. JMP Securities reiterated a “market outperform” rating and issued a $12.50 target price on shares of Rithm Capital in a report on Thursday, January 23rd. B. Riley upgraded shares of Rithm Capital to a “strong-buy” rating in a report on Tuesday, January 7th. Finally, Keefe, Bruyette & Woods lifted their target price on shares of Rithm Capital from $13.00 to $13.50 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Rithm Capital has a consensus rating of “Buy” and a consensus target price of $13.25.

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.