NewEdge Advisors LLC Has $322,000 Position in Rithm Capital Corp. (NYSE:RITM)

NewEdge Advisors LLC increased its holdings in shares of Rithm Capital Corp. (NYSE:RITM) by 6.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 29,726 shares of the real estate investment trust’s stock after purchasing an additional 1,833 shares during the period. NewEdge Advisors LLC’s holdings in Rithm Capital were worth $322,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Wilmington Savings Fund Society FSB bought a new stake in shares of Rithm Capital in the third quarter valued at approximately $43,000. Franklin Resources Inc. boosted its holdings in Rithm Capital by 0.8% in the 3rd quarter. Franklin Resources Inc. now owns 1,250,401 shares of the real estate investment trust’s stock valued at $13,467,000 after purchasing an additional 9,859 shares during the period. JPMorgan Chase & Co. grew its position in Rithm Capital by 119.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,608,008 shares of the real estate investment trust’s stock worth $52,301,000 after purchasing an additional 2,504,529 shares during the last quarter. Graypoint LLC bought a new position in shares of Rithm Capital during the 4th quarter worth about $137,000. Finally, FNY Investment Advisers LLC raised its position in shares of Rithm Capital by 8,600.0% during the fourth quarter. FNY Investment Advisers LLC now owns 8,700 shares of the real estate investment trust’s stock valued at $94,000 after buying an additional 8,600 shares during the last quarter. Institutional investors own 44.92% of the company’s stock.

Rithm Capital Trading Up 0.4 %

Shares of Rithm Capital stock opened at $11.18 on Thursday. The stock has a market capitalization of $5.93 billion, a P/E ratio of 6.69 and a beta of 1.36. Rithm Capital Corp. has a 12-month low of $9.13 and a 12-month high of $12.20. The company has a quick ratio of 1.35, a current ratio of 1.09 and a debt-to-equity ratio of 1.74. The company has a 50-day simple moving average of $11.09 and a 200 day simple moving average of $11.09.

Rithm Capital (NYSE:RITM) last posted its earnings results on Friday, April 25th. The real estate investment trust reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.07. The company had revenue of $28.89 million during the quarter, compared to analysts’ expectations of $1.27 billion. Rithm Capital had a net margin of 17.79% and a return on equity of 18.15%. During the same quarter in the previous year, the company posted $0.48 earnings per share. Research analysts expect that Rithm Capital Corp. will post 1.93 earnings per share for the current fiscal year.

Rithm Capital Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 8.94%. The ex-dividend date of this dividend was Monday, March 31st. Rithm Capital’s payout ratio is presently 83.33%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on RITM. Wedbush restated an “outperform” rating and set a $14.00 price target on shares of Rithm Capital in a research note on Friday, March 28th. BTIG Research restated a “buy” rating and issued a $16.00 target price on shares of Rithm Capital in a research note on Friday, April 25th. UBS Group decreased their price target on shares of Rithm Capital from $14.00 to $13.00 and set a “buy” rating on the stock in a research note on Wednesday, April 16th. B. Riley upgraded shares of Rithm Capital to a “strong-buy” rating in a research note on Tuesday, January 7th. Finally, JMP Securities reiterated a “market outperform” rating and set a $12.50 target price on shares of Rithm Capital in a research report on Thursday, January 23rd. Eight analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Rithm Capital presently has a consensus rating of “Buy” and a consensus target price of $13.61.

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.