Wellington Management Group LLP Buys 32,544 Shares of Rithm Capital Corp. (NYSE:RITM)

Wellington Management Group LLP grew its stake in shares of Rithm Capital Corp. (NYSE:RITM) by 0.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,600,461 shares of the real estate investment trust’s stock after buying an additional 32,544 shares during the period. Wellington Management Group LLP owned approximately 0.69% of Rithm Capital worth $38,993,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new stake in Rithm Capital during the 4th quarter worth $76,082,000. JPMorgan Chase & Co. raised its position in shares of Rithm Capital by 119.1% during the third quarter. JPMorgan Chase & Co. now owns 4,608,008 shares of the real estate investment trust’s stock worth $52,301,000 after purchasing an additional 2,504,529 shares during the period. Raymond James Financial Inc. bought a new position in shares of Rithm Capital during the 4th quarter valued at about $7,572,000. Geode Capital Management LLC grew its position in shares of Rithm Capital by 7.8% in the 3rd quarter. Geode Capital Management LLC now owns 8,415,057 shares of the real estate investment trust’s stock valued at $95,537,000 after purchasing an additional 610,698 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Rithm Capital by 102.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,173,045 shares of the real estate investment trust’s stock worth $13,314,000 after purchasing an additional 592,209 shares in the last quarter. 44.92% of the stock is currently owned by institutional investors and hedge funds.

Rithm Capital Stock Down 7.2 %

Rithm Capital stock opened at $10.44 on Monday. The company has a fifty day simple moving average of $11.68 and a 200 day simple moving average of $11.21. 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 $9.67 and a 1-year high of $12.20. The company has a market cap of $5.43 billion, a P/E ratio of 6.25 and a beta of 1.36.

Rithm Capital (NYSE:RITM) last announced its quarterly earnings data on Thursday, February 6th. The real estate investment trust reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.16. Rithm Capital had a return on equity of 18.15% and a net margin of 17.79%. Research analysts anticipate that Rithm Capital Corp. will post 1.93 earnings per share for the current fiscal year.

Rithm Capital Announces Dividend

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

Wall Street Analysts Forecast Growth

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

Rithm Capital Company 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.