Zurcher Kantonalbank Zurich Cantonalbank Lowers Stock Holdings in Rithm Capital Corp. (NYSE:RITM)

Zurcher Kantonalbank Zurich Cantonalbank cut its position in shares of Rithm Capital Corp. (NYSE:RITM) by 9.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 82,064 shares of the real estate investment trust’s stock after selling 9,031 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Rithm Capital were worth $876,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of RITM. Cookson Peirce & Co. Inc. bought a new stake in shares of Rithm Capital in the 4th quarter worth approximately $157,000. Mackenzie Financial Corp grew its stake in shares of Rithm Capital by 48.4% during the fourth quarter. Mackenzie Financial Corp now owns 112,492 shares of the real estate investment trust’s stock valued at $1,201,000 after buying an additional 36,673 shares during the last quarter. Koshinski Asset Management Inc. lifted its stake in shares of Rithm Capital by 96.4% in the 4th quarter. Koshinski Asset Management Inc. now owns 128,974 shares of the real estate investment trust’s stock valued at $1,377,000 after acquiring an additional 63,319 shares during the last quarter. Cerity Partners LLC purchased a new stake in Rithm Capital during the 4th quarter valued at about $737,000. Finally, Seelaus Asset Management LLC increased its stake in Rithm Capital by 12.3% in the 4th quarter. Seelaus Asset Management LLC now owns 35,516 shares of the real estate investment trust’s stock worth $379,000 after purchasing an additional 3,886 shares during the period. 44.92% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on RITM. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $12.00 target price on shares of Rithm Capital in a research note on Monday, April 1st. Keefe, Bruyette & Woods boosted their price target on Rithm Capital from $11.50 to $12.00 and gave the company an “outperform” rating in a report on Tuesday, April 16th. Wedbush reissued an “outperform” rating and set a $13.00 target price on shares of Rithm Capital in a research note on Monday, February 26th. Argus increased their price target on shares of Rithm Capital from $11.00 to $12.00 and gave the stock a “buy” rating in a research note on Tuesday, March 5th. Finally, B. Riley raised their price objective on Rithm Capital from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. Nine equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $12.00.

Rithm Capital Stock Up 0.8 %

RITM opened at $11.21 on Monday. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.12. Rithm Capital Corp. has a twelve month low of $7.59 and a twelve month high of $11.33. The stock has a market capitalization of $5.42 billion, a price-to-earnings ratio of 10.19 and a beta of 1.82. The firm has a 50 day moving average price of $10.89 and a 200-day moving average price of $10.49.

Rithm Capital (NYSE:RITM) last posted its quarterly earnings data on Wednesday, February 7th. The real estate investment trust reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.16. Rithm Capital had a return on equity of 18.49% and a net margin of 17.15%. The company had revenue of $709.47 million during the quarter, compared to analysts’ expectations of $887.04 million. During the same quarter in the prior year, the business earned $0.33 earnings per share. Equities research analysts forecast that Rithm Capital Corp. will post 1.69 earnings per share for the current year.

Rithm Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Monday, April 1st were paid a dividend of $0.25 per share. The ex-dividend date was Thursday, March 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.92%. Rithm Capital’s dividend payout ratio (DPR) is presently 90.91%.

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.