Wells Fargo & Company MN Boosts Stake in Rithm Capital Corp. (NYSE:RITM)

Wells Fargo & Company MN lifted its position in shares of Rithm Capital Corp. (NYSE:RITM) by 113.9% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,464,456 shares of the real estate investment trust’s stock after purchasing an additional 779,771 shares during the quarter. Wells Fargo & Company MN’s holdings in Rithm Capital were worth $15,860,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB bought a new position in Rithm Capital during the 3rd quarter valued at approximately $43,000. Householder Group Estate & Retirement Specialist LLC raised its position in shares of Rithm Capital by 86.7% in 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 purchasing an additional 2,062 shares during the last quarter. C M Bidwell & Associates Ltd. bought a new position in Rithm Capital in the 4th quarter worth about $81,000. FNY Investment Advisers LLC grew its position in 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 during the last quarter. Finally, Whittier Trust Co. increased its stake in Rithm Capital by 1,860.7% during the 4th quarter. Whittier Trust Co. now owns 10,274 shares of the real estate investment trust’s stock valued at $111,000 after purchasing an additional 9,750 shares in the last quarter. 44.92% of the stock is owned by hedge funds and other institutional investors.

Rithm Capital Trading Up 3.1 %

Shares of NYSE:RITM opened at $10.06 on Tuesday. Rithm Capital Corp. has a 52-week low of $9.13 and a 52-week high of $12.20. The stock has a market capitalization of $5.24 billion, a price-to-earnings ratio of 6.02 and a beta of 1.36. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.35 and a current ratio of 1.09. The stock’s 50-day simple moving average is $11.45 and its two-hundred day simple moving average is $11.12.

Rithm Capital (NYSE:RITM) last announced its earnings results on Thursday, February 6th. The real estate investment trust reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.44 by $0.16. Rithm Capital had a net margin of 17.79% and a return on equity of 18.15%. Analysts expect that Rithm Capital Corp. will post 1.93 EPS for the current year.

Rithm Capital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 9.94%. The ex-dividend date is Monday, March 31st. Rithm Capital’s dividend payout ratio is presently 59.88%.

Analyst Ratings Changes

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