Raymond James Trust N.A. Boosts Stake in Rithm Capital Corp. (NYSE:RITM)

Raymond James Trust N.A. raised its position in Rithm Capital Corp. (NYSE:RITM) by 52.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,484 shares of the real estate investment trust’s stock after buying an additional 6,360 shares during the period. Raymond James Trust N.A.’s holdings in Rithm Capital were worth $197,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Lazard Asset Management LLC bought a new position in shares of Rithm Capital during the fourth quarter worth about $34,000. American International Group Inc. bought a new position in shares of Rithm Capital during the fourth quarter worth about $36,000. Castleview Partners LLC lifted its position in shares of Rithm Capital by 690.6% during the third quarter. Castleview Partners LLC now owns 4,016 shares of the real estate investment trust’s stock worth $37,000 after purchasing an additional 3,508 shares during the last quarter. Advisory Services Network LLC lifted its position in shares of Rithm Capital by 55.5% during the first quarter. Advisory Services Network LLC now owns 4,929 shares of the real estate investment trust’s stock worth $39,000 after purchasing an additional 1,760 shares during the last quarter. Finally, BluePath Capital Management LLC bought a new position in shares of Rithm Capital during the third quarter worth about $70,000. 44.92% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. JMP Securities increased their price target on shares of Rithm Capital from $10.50 to $11.00 and gave the stock a “market outperform” rating in a research report on Thursday, January 18th. UBS Group started coverage on shares of Rithm Capital in a report on Wednesday, December 6th. They issued a “buy” rating and a $12.50 target price on the stock. Jonestrading raised their target price on shares of Rithm Capital from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. Wedbush reissued an “outperform” rating and issued a $13.00 target price on shares of Rithm Capital in a report on Monday, February 26th. Finally, Argus raised their target price on shares of Rithm Capital from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Tuesday, March 5th. Eight analysts have rated the stock with a buy rating, According to data from MarketBeat.com, Rithm Capital presently has an average rating of “Buy” and a consensus target price of $12.00.

Rithm Capital Price Performance

NYSE RITM opened at $11.33 on Thursday. Rithm Capital Corp. has a 12 month low of $7.59 and a 12 month high of $11.33. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.30 and a quick ratio of 0.30. The firm has a market capitalization of $5.47 billion, a PE ratio of 10.30 and a beta of 1.82. The company’s 50 day simple moving average is $10.78 and its 200 day simple moving average is $10.29.

Rithm Capital (NYSE:RITM) last posted its quarterly earnings data on Wednesday, February 7th. The real estate investment trust reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.16. Rithm Capital had a net margin of 17.15% and a return on equity of 18.49%. The business had revenue of $709.47 million for the quarter, compared to analyst estimates of $887.04 million. During the same quarter last year, the business earned $0.33 earnings per share. As a group, equities research analysts forecast that Rithm Capital Corp. will post 1.67 EPS for the current fiscal year.

Rithm Capital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Monday, April 1st will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 8.83%. The ex-dividend date of this dividend is Thursday, March 28th. Rithm Capital’s payout ratio is 90.91%.

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.