Flagship Harbor Advisors LLC Buys 1,636 Shares of Rithm Capital Corp. (NYSE:RITM)

Flagship Harbor Advisors LLC raised its position in Rithm Capital Corp. (NYSE:RITM) by 4.7% during the first quarter, Holdings Channel reports. The institutional investor owned 36,808 shares of the real estate investment trust’s stock after buying an additional 1,636 shares during the quarter. Flagship Harbor Advisors LLC’s holdings in Rithm Capital were worth $421,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Allspring Global Investments Holdings LLC boosted its stake in shares of Rithm Capital by 15.9% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 21,683 shares of the real estate investment trust’s stock valued at $235,000 after purchasing an additional 2,978 shares during the last quarter. Rhumbline Advisers raised its stake in shares of Rithm Capital by 7.7% during the fourth quarter. Rhumbline Advisers now owns 495,456 shares of the real estate investment trust’s stock worth $5,366,000 after buying an additional 35,405 shares during the last quarter. Handelsbanken Fonder AB lifted its holdings in Rithm Capital by 16.9% in the fourth quarter. Handelsbanken Fonder AB now owns 143,994 shares of the real estate investment trust’s stock valued at $1,559,000 after buying an additional 20,800 shares during the period. Bank of New York Mellon Corp lifted its holdings in 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 valued at $20,755,000 after buying an additional 159,506 shares during the period. Finally, Illinois Municipal Retirement Fund boosted its stake in Rithm Capital by 25.0% in the fourth quarter. Illinois Municipal Retirement Fund now owns 287,716 shares of the real estate investment trust’s stock valued at $3,116,000 after acquiring an additional 57,567 shares during the last quarter. 44.92% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on RITM shares. Wedbush reiterated an “outperform” rating and set a $14.00 target price on shares of Rithm Capital in a research report on Monday, May 19th. Piper Sandler raised Rithm Capital from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $12.50 to $14.00 in a research note on Monday, April 28th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $13.00 price objective on shares of Rithm Capital in a report on Tuesday, May 20th. BTIG Research reissued a “buy” rating and issued a $16.00 target price on shares of Rithm Capital in a research note on Friday, April 25th. Finally, Jones Trading restated a “buy” rating and set a $12.50 target price on shares of Rithm Capital in a report on Tuesday, April 29th. Eight research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Rithm Capital presently has a consensus rating of “Buy” and an average target price of $13.56.

Rithm Capital Trading Down 0.6%

Shares of NYSE RITM opened at $11.25 on Thursday. Rithm Capital Corp. has a twelve month low of $9.13 and a twelve month high of $12.20. The stock has a market cap of $5.96 billion, a price-to-earnings ratio of 9.38 and a beta of 1.26. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 1.68. The company’s fifty day moving average is $11.14 and its 200-day moving average is $11.22.

Rithm Capital (NYSE:RITM) last issued its quarterly earnings data on Friday, April 25th. The real estate investment trust reported $0.52 EPS for the quarter, topping the consensus estimate of $0.45 by $0.07. Rithm Capital had a return on equity of 18.38% and a net margin of 15.06%. The business had revenue of $28.89 million for the quarter, compared to the consensus estimate of $1.27 billion. During the same quarter last year, the business posted $0.48 EPS. Equities research analysts predict that Rithm Capital Corp. will post 1.93 EPS for the current year.

Rithm Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 31st. Stockholders of record on Monday, June 30th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 8.89%. The ex-dividend date of this dividend is Monday, June 30th. Rithm Capital’s dividend payout ratio (DPR) is presently 83.33%.

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.