Arrowstreet Capital Limited Partnership Decreases Holdings in Rithm Capital Corp. (NYSE:RITM)

Arrowstreet Capital Limited Partnership reduced its stake in shares of Rithm Capital Corp. (NYSE:RITM) by 78.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 653,278 shares of the real estate investment trust’s stock after selling 2,315,553 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.13% of Rithm Capital worth $7,075,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of RITM. Wilmington Savings Fund Society FSB bought a new position in Rithm Capital during the third quarter valued at $43,000. Householder Group Estate & Retirement Specialist LLC grew its stake 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 worth $48,000 after acquiring an additional 2,062 shares during the period. FNY Investment Advisers LLC increased its holdings in Rithm Capital by 8,600.0% in the 4th quarter. FNY Investment Advisers LLC now owns 8,700 shares of the real estate investment trust’s stock worth $94,000 after acquiring an additional 8,600 shares during the last quarter. Whittier Trust Co. increased its holdings in Rithm Capital by 1,860.7% in the 4th quarter. Whittier Trust Co. now owns 10,274 shares of the real estate investment trust’s stock worth $111,000 after acquiring an additional 9,750 shares during the last quarter. Finally, Perigon Wealth Management LLC bought a new stake in Rithm Capital in the 4th quarter valued at about $120,000. Hedge funds and other institutional investors own 44.92% of the company’s stock.

Rithm Capital Price Performance

Rithm Capital stock opened at $10.44 on Monday. The business has a 50-day simple moving average of $11.68 and a 200 day simple moving average of $11.21. Rithm Capital Corp. has a 52 week low of $10.28 and a 52 week high of $12.20. The stock has a market cap of $5.43 billion, a price-to-earnings ratio of 6.25 and a beta of 1.36. The company has a quick ratio of 1.35, a current ratio of 1.09 and a debt-to-equity ratio of 1.74.

Rithm Capital (NYSE:RITM) last posted its quarterly earnings data on Thursday, February 6th. The real estate investment trust reported $0.60 earnings per share 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%. On average, research analysts forecast that Rithm Capital Corp. will post 1.93 earnings per share for the current fiscal year.

Rithm Capital Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be given a $0.25 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.00 annualized dividend and a yield of 9.58%. Rithm Capital’s dividend payout ratio (DPR) is presently 59.88%.

Analyst Ratings Changes

Several research firms have recently weighed in on RITM. Wedbush reiterated an “outperform” rating and issued a $14.00 target price on shares of Rithm Capital in a research note on Friday, March 28th. JMP Securities reiterated a “market outperform” rating and issued a $12.50 price objective on shares of Rithm Capital in a research note on Thursday, January 23rd. B. Riley upgraded Rithm Capital to a “strong-buy” rating in a research report on Tuesday, January 7th. Finally, Piper Sandler lifted their price target on Rithm Capital from $11.50 to $12.50 and gave the company a “neutral” rating in a research report on Friday, February 7th. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $13.25.

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.