KLP Kapitalforvaltning AS Takes Position in Rithm Capital Corp. (NYSE:RITM)

KLP Kapitalforvaltning AS purchased a new position in shares of Rithm Capital Corp. (NYSE:RITM) in the 4th quarter, HoldingsChannel.com reports. The fund purchased 107,100 shares of the real estate investment trust’s stock, valued at approximately $1,183,000.

Several other institutional investors have also added to or reduced their stakes in the company. Wilmington Savings Fund Society FSB acquired a new stake in shares of Rithm Capital during the third quarter worth $43,000. Householder Group Estate & Retirement Specialist LLC raised its stake in 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 in the last quarter. FNY Investment Advisers LLC boosted its holdings in Rithm Capital by 8,600.0% in 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 period. Whittier Trust Co. grew its position in shares of 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 worth $111,000 after purchasing an additional 9,750 shares in the last quarter. Finally, Perigon Wealth Management LLC bought a new position in shares of Rithm Capital during the fourth quarter worth approximately $120,000. 44.92% of the stock is currently owned by institutional investors.

Rithm Capital Stock Down 2.1 %

Shares of NYSE RITM opened at $11.39 on Friday. The company has a market cap of $5.93 billion, a price-to-earnings ratio of 6.82 and a beta of 1.83. The company has a current ratio of 1.09, a quick ratio of 1.35 and a debt-to-equity ratio of 1.74. Rithm Capital Corp. has a 12 month low of $10.38 and a 12 month high of $12.20. The stock has a 50-day moving average price of $11.69 and a two-hundred day moving average price of $11.23.

Rithm Capital (NYSE:RITM) last released its quarterly earnings data on Thursday, February 6th. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, topping 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%. As a group, analysts forecast that Rithm Capital Corp. will post 1.93 earnings per share for the current fiscal year.

Rithm Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Investors 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 dividend yield of 8.78%. The ex-dividend date is Monday, March 31st. Rithm Capital’s dividend payout ratio (DPR) is 59.88%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on RITM. JMP Securities reiterated a “market outperform” rating and issued a $12.50 price target on shares of Rithm Capital in a research note on Thursday, January 23rd. Wedbush restated an “outperform” rating and issued a $14.00 price target on shares of Rithm Capital in a research report on Friday. B. Riley raised shares of Rithm Capital to a “strong-buy” rating in a research report on Tuesday, January 7th. Keefe, Bruyette & Woods raised their target price 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, 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 report on Friday, February 7th. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price 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.