KLP Kapitalforvaltning AS Invests $1.18 Million in Rithm Capital Corp. (NYSE:RITM)

KLP Kapitalforvaltning AS acquired a new stake in Rithm Capital Corp. (NYSE:RITM) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 107,100 shares of the real estate investment trust’s stock, valued at approximately $1,183,000.

A number of other large investors have also bought and sold shares of RITM. Charles Schwab Investment Management Inc. increased its position in shares of Rithm Capital by 7.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,364,962 shares of the real estate investment trust’s stock worth $60,892,000 after acquiring an additional 366,600 shares in the last quarter. JPMorgan Chase & Co. boosted its stake 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 period. Neo Ivy Capital Management bought a new position in Rithm Capital during the 3rd quarter worth about $1,476,000. Bank of New York Mellon Corp raised its stake in shares of Rithm Capital by 9.1% in the 4th quarter. Bank of New York Mellon Corp now owns 1,916,453 shares of the real estate investment trust’s stock valued at $20,755,000 after purchasing an additional 159,506 shares during the period. Finally, EMC Capital Management lifted its holdings in shares of Rithm Capital by 1,349.0% in the fourth quarter. EMC Capital Management now owns 35,371 shares of the real estate investment trust’s stock valued at $383,000 after purchasing an additional 32,930 shares in the last quarter. 44.92% of the stock is owned by institutional investors.

Rithm Capital Stock Performance

NYSE RITM opened at $11.39 on Friday. The firm’s fifty day moving average price is $11.69 and its two-hundred day moving average price is $11.23. Rithm Capital Corp. has a 1 year low of $10.38 and a 1 year high of $12.20. The firm has a market capitalization of $5.93 billion, a P/E ratio of 6.82 and a beta of 1.83. The company has a current ratio of 1.09, a quick ratio of 1.35 and a debt-to-equity ratio of 1.74.

Rithm Capital (NYSE:RITM) last issued its earnings results on Thursday, February 6th. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, beating 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%. As a group, research analysts anticipate that Rithm Capital Corp. will post 1.93 EPS for the current year.

Rithm Capital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.78%. The ex-dividend date is Monday, March 31st. Rithm Capital’s payout ratio is presently 59.88%.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on RITM shares. Piper Sandler increased their price objective on Rithm Capital from $11.50 to $12.50 and gave the stock a “neutral” rating in a report on Friday, February 7th. Wedbush reissued an “outperform” rating and issued a $14.00 price objective on shares of Rithm Capital in a research report on Friday. B. Riley raised shares of Rithm Capital to a “strong-buy” rating in a research report on Tuesday, January 7th. JMP Securities reiterated a “market outperform” rating and issued a $12.50 price target on shares of Rithm Capital in a research note on Thursday, January 23rd. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Rithm Capital from $13.00 to $13.50 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average target price of $13.25.

Rithm Capital Company 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.