Mackenzie Financial Corp Increases Stake in Rithm Capital Corp. (NYSE:RITM)

Mackenzie Financial Corp lifted its stake in Rithm Capital Corp. (NYSE:RITM) by 48.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 112,492 shares of the real estate investment trust’s stock after purchasing an additional 36,673 shares during the quarter. Mackenzie Financial Corp’s holdings in Rithm Capital were worth $1,201,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Koshinski Asset Management Inc. raised its position in shares of Rithm Capital by 96.4% in the 4th quarter. Koshinski Asset Management Inc. now owns 128,974 shares of the real estate investment trust’s stock valued at $1,377,000 after purchasing an additional 63,319 shares during the last quarter. Cerity Partners LLC purchased a new position in Rithm Capital during the 4th quarter worth approximately $737,000. Seelaus Asset Management LLC raised its position in Rithm Capital by 12.3% during the 4th quarter. Seelaus Asset Management LLC now owns 35,516 shares of the real estate investment trust’s stock worth $379,000 after buying an additional 3,886 shares during the last quarter. Capital Square LLC raised its position in Rithm Capital by 2.5% during the 4th quarter. Capital Square LLC now owns 233,284 shares of the real estate investment trust’s stock worth $2,491,000 after buying an additional 5,697 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in Rithm Capital by 177.0% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 46,882 shares of the real estate investment trust’s stock worth $501,000 after buying an additional 29,960 shares during the last quarter. 44.92% of the stock is owned by hedge funds and other institutional investors.

Rithm Capital Price Performance

Rithm Capital stock opened at $11.13 on Thursday. The company’s fifty day moving average price is $10.85 and its 200 day moving average price is $10.45. Rithm Capital Corp. has a 1 year low of $7.59 and a 1 year high of $11.33. The stock has a market capitalization of $5.39 billion, a P/E ratio of 10.12 and a beta of 1.82. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.30 and a current ratio of 0.30.

Rithm Capital (NYSE:RITM) last released its quarterly earnings results on Wednesday, February 7th. The real estate investment trust reported $0.51 earnings per share (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 firm had revenue of $709.47 million for the quarter, compared to analysts’ expectations of $887.04 million. During the same quarter last year, the company earned $0.33 EPS. As a group, equities research analysts anticipate that Rithm Capital Corp. will post 1.69 earnings per share 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. Shareholders of record on Monday, April 1st will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $1.00 annualized dividend and a yield of 8.98%. Rithm Capital’s dividend payout ratio (DPR) is presently 90.91%.

Analyst Ratings Changes

A number of equities analysts have issued reports on the stock. Argus raised their price target on shares of Rithm Capital from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Tuesday, March 5th. Jonestrading raised their price target on shares of Rithm Capital from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Thursday, February 22nd. JMP Securities reaffirmed a “market outperform” rating and set a $11.00 target price on shares of Rithm Capital in a report on Thursday, April 18th. Keefe, Bruyette & Woods lifted their target price on shares of Rithm Capital from $11.50 to $12.00 and gave the company an “outperform” rating in a report on Tuesday, April 16th. Finally, Wedbush reaffirmed an “outperform” rating and set a $13.00 target price on shares of Rithm Capital in a report on Monday, February 26th. Nine investment analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus target price of $12.00.

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.