Strategic Financial Concepts LLC Invests $921,000 in Rithm Capital Corp. (NYSE:RITM)

Strategic Financial Concepts LLC acquired a new stake in shares of Rithm Capital Corp. (NYSE:RITM) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 85,066 shares of the real estate investment trust’s stock, valued at approximately $921,000.

Several other large investors have also modified their holdings of the stock. SeaCrest Wealth Management LLC lifted its position in shares of Rithm Capital by 1.0% in the 4th quarter. SeaCrest Wealth Management LLC now owns 94,566 shares of the real estate investment trust’s stock valued at $1,024,000 after acquiring an additional 951 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of Rithm Capital by 4.1% in the second quarter. AQR Capital Management LLC now owns 29,848 shares of the real estate investment trust’s stock valued at $326,000 after purchasing an additional 1,183 shares in the last quarter. Empowered Funds LLC lifted its holdings in shares of Rithm Capital by 8.3% in the third quarter. Empowered Funds LLC now owns 15,824 shares of the real estate investment trust’s stock valued at $176,000 after purchasing an additional 1,216 shares in the last quarter. HB Wealth Management LLC grew its holdings in shares of Rithm Capital by 10.4% during the fourth quarter. HB Wealth Management LLC now owns 15,024 shares of the real estate investment trust’s stock valued at $163,000 after buying an additional 1,411 shares in the last quarter. Finally, Foster Victor Wealth Advisors LLC raised its position in Rithm Capital by 2.6% during the fourth quarter. Foster Victor Wealth Advisors LLC now owns 57,849 shares of the real estate investment trust’s stock valued at $657,000 after buying an additional 1,457 shares during the period. 44.92% of the stock is owned by institutional investors.

Rithm Capital Trading Down 0.2 %

Shares of NYSE:RITM opened at $11.84 on Wednesday. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.63. The stock has a market capitalization of $6.15 billion, a PE ratio of 7.09 and a beta of 1.79. Rithm Capital Corp. has a 1 year low of $10.06 and a 1 year high of $12.02. The firm has a fifty day moving average price of $11.18 and a 200 day moving average price of $11.15.

Rithm Capital (NYSE:RITM) last released its quarterly 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 return on equity of 18.46% and a net margin of 17.79%. Analysts expect that Rithm Capital Corp. will post 1.92 EPS for the current fiscal year.

Rithm Capital Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.45%. The ex-dividend date was Tuesday, December 31st. Rithm Capital’s dividend payout ratio is 59.88%.

Analyst Ratings Changes

RITM has been the subject of a number of research reports. Wedbush restated an “outperform” rating and set a $14.00 price objective on shares of Rithm Capital in a research report on Thursday, November 7th. Keefe, Bruyette & Woods boosted their price objective on shares of Rithm Capital from $13.00 to $13.50 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. Royal Bank of Canada reiterated an “outperform” rating and issued a $13.00 target price on shares of Rithm Capital in a research report on Thursday, November 21st. B. Riley upgraded shares of Rithm Capital to a “strong-buy” rating in a report on Tuesday, January 7th. Finally, Piper Sandler upped their price target on shares of Rithm Capital from $11.50 to $12.50 and gave the stock a “neutral” rating in a research note on Friday, February 7th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company 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.