Entropy Technologies LP Grows Holdings in Rithm Capital Corp. (NYSE:RITM)

Entropy Technologies LP lifted its stake in shares of Rithm Capital Corp. (NYSE:RITM) by 12.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 91,372 shares of the real estate investment trust’s stock after buying an additional 10,093 shares during the quarter. Entropy Technologies LP’s holdings in Rithm Capital were worth $990,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Geode Capital Management LLC grew its holdings in Rithm Capital by 7.8% during the 3rd quarter. Geode Capital Management LLC now owns 8,415,057 shares of the real estate investment trust’s stock worth $95,537,000 after acquiring an additional 610,698 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Rithm Capital by 7.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,364,962 shares of the real estate investment trust’s stock worth $60,892,000 after purchasing an additional 366,600 shares during the last quarter. JPMorgan Chase & Co. grew its stake in Rithm Capital by 119.1% in 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 in the last quarter. Azora Capital LP increased its holdings in Rithm Capital by 107.6% in the third quarter. Azora Capital LP now owns 4,383,821 shares of the real estate investment trust’s stock valued at $49,756,000 after buying an additional 2,271,671 shares during the last quarter. Finally, Wellington Management Group LLP raised its stake in Rithm Capital by 37.8% during the third quarter. Wellington Management Group LLP now owns 3,567,917 shares of the real estate investment trust’s stock valued at $40,496,000 after buying an additional 978,954 shares in the last quarter. Institutional investors own 44.92% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. B. Riley upgraded Rithm Capital to a “strong-buy” rating in a research report on Tuesday, January 7th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $13.00 price objective on shares of Rithm Capital in a report on Thursday, November 21st. Piper Sandler increased their target price on shares of Rithm Capital from $11.50 to $12.50 and gave the stock a “neutral” rating in a report on Friday. Wedbush reaffirmed an “outperform” rating and issued a $14.00 price target on shares of Rithm Capital in a report on Thursday, November 7th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of Rithm Capital from $13.00 to $13.50 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $12.94.

Rithm Capital Stock Up 0.0 %

RITM stock opened at $11.86 on Tuesday. The stock has a market cap of $6.16 billion, a PE ratio of 7.10 and a beta of 1.79. The firm’s 50-day simple moving average is $11.16 and its 200 day simple moving average is $11.14. Rithm Capital Corp. has a fifty-two week low of $10.06 and a fifty-two week high of $12.02. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.63.

Rithm Capital (NYSE:RITM) last announced 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 18.46%. As a group, sell-side analysts predict that Rithm Capital Corp. will post 1.92 EPS for the current year.

Rithm Capital Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Tuesday, December 31st. This represents a $1.00 dividend on an annualized basis and a yield of 8.44%. Rithm Capital’s dividend payout ratio (DPR) is presently 59.88%.

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.