Seelaus Asset Management LLC Buys 3,989 Shares of Rithm Capital Corp. (NYSE:RITM)

Seelaus Asset Management LLC lifted its stake in shares of Rithm Capital Corp. (NYSE:RITM) by 10.8% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 40,968 shares of the real estate investment trust’s stock after acquiring an additional 3,989 shares during the period. Seelaus Asset Management LLC’s holdings in Rithm Capital were worth $444,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Geode Capital Management LLC grew its holdings in shares of Rithm Capital by 7.8% during the 3rd quarter. Geode Capital Management LLC now owns 8,415,057 shares of the real estate investment trust’s stock valued at $95,537,000 after purchasing an additional 610,698 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Rithm Capital by 7.3% during the 3rd 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 during the last quarter. JPMorgan Chase & Co. increased 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. Azora Capital LP boosted its stake in shares of Rithm Capital by 107.6% during the third quarter. Azora Capital LP now owns 4,383,821 shares of the real estate investment trust’s stock valued at $49,756,000 after purchasing an additional 2,271,671 shares during the period. Finally, Wellington Management Group LLP grew its holdings in shares of Rithm Capital by 37.8% in the third quarter. Wellington Management Group LLP now owns 3,567,917 shares of the real estate investment trust’s stock worth $40,496,000 after purchasing an additional 978,954 shares during the last quarter. 44.92% of the stock is currently owned by hedge funds and other institutional investors.

Rithm Capital Price Performance

RITM opened at $11.84 on Friday. The firm has a market cap of $6.15 billion, a PE ratio of 7.09 and a beta of 1.79. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.35 and a quick ratio of 1.35. Rithm Capital Corp. has a 1 year low of $10.06 and a 1 year high of $12.02. The stock has a 50-day moving average price of $11.15 and a 200-day moving average price of $11.14.

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, 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 18.46%. Sell-side analysts predict that Rithm Capital Corp. will post 1.92 earnings per share for the current fiscal year.

Rithm Capital Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st were paid a dividend of $0.25 per share. The ex-dividend date was Tuesday, December 31st. This represents a $1.00 annualized dividend and a yield of 8.45%. Rithm Capital’s dividend payout ratio is 59.88%.

Analysts Set New Price Targets

RITM has been the topic of a number of recent analyst reports. JMP Securities reissued a “market outperform” rating and issued a $12.50 price target on shares of Rithm Capital in a report on Thursday, January 23rd. Piper Sandler lifted their price objective on Rithm Capital from $11.50 to $12.50 and gave the stock a “neutral” rating in a research report on Friday. Wedbush reaffirmed an “outperform” rating and issued a $14.00 price target on shares of Rithm Capital in a research note on Thursday, November 7th. Keefe, Bruyette & Woods lifted their price target on shares of Rithm Capital from $13.00 to $13.50 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and issued a $13.00 target price on shares of Rithm Capital in a research report on Thursday, November 21st. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus target price of $12.94.

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.