Raymond James Financial Inc. Invests $7.57 Million in Rithm Capital Corp. (NYSE:RITM)

Raymond James Financial Inc. acquired a new position in Rithm Capital Corp. (NYSE:RITM) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 699,148 shares of the real estate investment trust’s stock, valued at approximately $7,572,000. Raymond James Financial Inc. owned approximately 0.13% of Rithm Capital at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the business. Norges Bank bought a new position in shares of Rithm Capital in the fourth quarter worth $76,082,000. JPMorgan Chase & Co. grew its position in Rithm Capital by 119.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,608,008 shares of the real estate investment trust’s stock valued at $52,301,000 after buying an additional 2,504,529 shares in the last quarter. Wells Fargo & Company MN increased its stake in Rithm Capital by 113.9% during the 4th quarter. Wells Fargo & Company MN now owns 1,464,456 shares of the real estate investment trust’s stock valued at $15,860,000 after buying an additional 779,771 shares during the period. SG Americas Securities LLC raised its position in shares of Rithm Capital by 78.8% during the 4th quarter. SG Americas Securities LLC now owns 647,970 shares of the real estate investment trust’s stock worth $7,018,000 after buying an additional 285,668 shares in the last quarter. Finally, Angel Oak Capital Advisors LLC acquired a new stake in shares of Rithm Capital in the 4th quarter worth approximately $3,074,000. 44.92% of the stock is currently owned by institutional investors and hedge funds.

Rithm Capital Trading Up 3.5 %

NYSE:RITM opened at $10.32 on Wednesday. The stock has a fifty day simple moving average of $11.27 and a 200 day simple moving average of $11.09. The firm has a market capitalization of $5.47 billion, a price-to-earnings ratio of 6.18 and a beta of 1.36. Rithm Capital Corp. has a 1-year low of $9.13 and a 1-year high of $12.20. The company has a quick ratio of 1.35, a current ratio of 1.09 and a debt-to-equity ratio of 1.74.

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

Rithm Capital Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 9.69%. The ex-dividend date of this dividend is Monday, March 31st. Rithm Capital’s payout ratio is 59.88%.

Wall Street Analyst Weigh In

A number of research analysts recently commented on RITM shares. Wedbush reiterated an “outperform” rating and set a $14.00 price objective on shares of Rithm Capital in a research note on Friday, March 28th. JMP Securities reiterated a “market outperform” rating and set a $12.50 price target on shares of Rithm Capital in a research report on Thursday, January 23rd. Piper Sandler upped their price objective on Rithm Capital from $11.50 to $12.50 and gave the company a “neutral” rating in a report on Friday, February 7th. B. Riley raised Rithm Capital to a “strong-buy” rating in a report on Tuesday, January 7th. Finally, UBS Group cut their price target on shares of Rithm Capital from $14.00 to $13.00 and set a “buy” rating for the company in a report on Wednesday, April 16th. One analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Rithm Capital currently has an average rating of “Buy” and a consensus target price of $13.21.

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.