Envestnet Asset Management Inc. Grows Stock Position in Rithm Capital Corp. (NYSE:RITM)

Envestnet Asset Management Inc. grew its holdings in Rithm Capital Corp. (NYSE:RITM) by 144.4% in the 4th quarter, Holdings Channel.com reports. The fund owned 205,963 shares of the real estate investment trust’s stock after buying an additional 121,706 shares during the period. Envestnet Asset Management Inc.’s holdings in Rithm Capital were worth $2,231,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the stock. 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 purchasing an additional 2,504,529 shares during the last quarter. Wedbush Securities Inc. grew its holdings in shares of Rithm Capital by 13.7% during the fourth quarter. Wedbush Securities Inc. now owns 231,682 shares of the real estate investment trust’s stock valued at $2,509,000 after buying an additional 27,924 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Rithm Capital by 9.1% during the fourth quarter. Bank of New York Mellon Corp now owns 1,916,453 shares of the real estate investment trust’s stock valued at $20,755,000 after buying an additional 159,506 shares during the last quarter. EMC Capital Management increased its position in shares of Rithm Capital by 1,349.0% in the 4th quarter. EMC Capital Management now owns 35,371 shares of the real estate investment trust’s stock valued at $383,000 after acquiring an additional 32,930 shares during the period. Finally, Meridian Financial Partners LLC purchased a new position in Rithm Capital in the 4th quarter worth $898,000. Institutional investors and hedge funds own 44.92% of the company’s stock.

Rithm Capital Stock Up 1.3 %

RITM stock opened at $10.54 on Friday. Rithm Capital Corp. has a one year low of $9.13 and a one year high of $12.20. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.35 and a current ratio of 1.09. The firm’s fifty day moving average is $11.14 and its 200 day moving average is $11.08. The firm has a market cap of $5.59 billion, a PE ratio of 6.31 and a beta of 1.36.

Rithm Capital (NYSE:RITM) last released its quarterly earnings results on Friday, April 25th. The real estate investment trust reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.07. Rithm Capital had a return on equity of 18.15% and a net margin of 17.79%. The company had revenue of $28.89 million during the quarter, compared to analysts’ expectations of $1.27 billion. During the same quarter in the prior year, the firm posted $0.48 EPS. On average, research analysts forecast that Rithm Capital Corp. will post 1.93 EPS for the current year.

Rithm Capital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a $0.25 dividend. The ex-dividend date is Monday, March 31st. This represents a $1.00 dividend on an annualized basis and a yield of 9.49%. Rithm Capital’s dividend payout ratio is currently 83.33%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on RITM shares. B. Riley raised Rithm Capital to a “strong-buy” rating in a report on Tuesday, January 7th. Wedbush reiterated an “outperform” rating and issued 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 price objective on shares of Rithm Capital in a research note on Thursday, January 23rd. BTIG Research reissued a “buy” rating on shares of Rithm Capital in a report on Friday. Finally, UBS Group decreased their target price on shares of Rithm Capital from $14.00 to $13.00 and set a “buy” rating for the company in a research report on Wednesday, April 16th. One investment analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $13.21.

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.