Arrowstreet Capital Limited Partnership Decreases Position in Rithm Capital Corp. (NYSE:RITM)

Arrowstreet Capital Limited Partnership trimmed its holdings in shares of Rithm Capital Corp. (NYSE:RITM) by 78.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 653,278 shares of the real estate investment trust’s stock after selling 2,315,553 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Rithm Capital were worth $7,075,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of RITM. JPMorgan Chase & Co. grew its position in Rithm Capital by 119.1% during 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 acquiring an additional 2,504,529 shares during the last quarter. Neo Ivy Capital Management purchased a new position in shares of Rithm Capital in the third quarter worth $1,476,000. Bank of New York Mellon Corp increased its stake in shares of Rithm Capital by 9.1% in the fourth quarter. Bank of New York Mellon Corp now owns 1,916,453 shares of the real estate investment trust’s stock worth $20,755,000 after buying an additional 159,506 shares during the period. EMC Capital Management boosted its position in Rithm Capital by 1,349.0% during the 4th quarter. EMC Capital Management now owns 35,371 shares of the real estate investment trust’s stock valued at $383,000 after buying an additional 32,930 shares during the period. Finally, Meridian Financial Partners LLC bought a new stake in Rithm Capital in the 4th quarter worth $898,000. 44.92% of the stock is owned by institutional investors.

Rithm Capital Price Performance

Shares of RITM opened at $10.44 on Monday. The firm has a market cap of $5.43 billion, a PE ratio of 6.25 and a beta of 1.36. 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 1-year low of $10.28 and a 1-year high of $12.20. The firm has a fifty day simple moving average of $11.68 and a two-hundred day simple moving average of $11.21.

Rithm Capital (NYSE:RITM) last announced its earnings results on Thursday, February 6th. The real estate investment trust reported $0.60 EPS for the quarter, beating 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%. On average, equities analysts anticipate that Rithm Capital Corp. will post 1.93 EPS for the current year.

Rithm Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.25 per share. The ex-dividend date is Monday, March 31st. This represents a $1.00 dividend on an annualized basis and a yield of 9.58%. Rithm Capital’s dividend payout ratio is presently 59.88%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on RITM. Wedbush restated an “outperform” rating and set a $14.00 price target on shares of Rithm Capital in a report on Friday, March 28th. JMP Securities restated a “market outperform” rating and set a $12.50 target price on shares of Rithm Capital in a report on Thursday, January 23rd. B. Riley raised Rithm Capital to a “strong-buy” rating in a research note on Tuesday, January 7th. Finally, Piper Sandler boosted their price objective on shares of Rithm Capital from $11.50 to $12.50 and gave the company a “neutral” rating in a research report on Friday, February 7th. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Rithm Capital currently has an average rating of “Buy” and an average target price of $13.25.

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.