Proficio Capital Partners LLC Makes New Investment in Rithm Capital Corp. (NYSE:RITM)

Proficio Capital Partners LLC acquired a new stake in Rithm Capital Corp. (NYSE:RITM) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 16,245 shares of the real estate investment trust’s stock, valued at approximately $176,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in RITM. JPMorgan Chase & Co. grew its stake in 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. Azora Capital LP grew its position in shares of Rithm Capital by 107.6% during the 3rd quarter. Azora Capital LP now owns 4,383,821 shares of the real estate investment trust’s stock worth $49,756,000 after buying an additional 2,271,671 shares during the period. Soros Fund Management LLC bought a new stake in shares of Rithm Capital in the 3rd quarter valued at $23,835,000. Maven Securities LTD acquired a new position in shares of Rithm Capital during the 3rd quarter valued at $11,350,000. Finally, Wellington Management Group LLP lifted its position in shares of Rithm Capital by 37.8% during the 3rd 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 acquiring an additional 978,954 shares during the period. 44.92% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

RITM has been the subject of a number of research reports. JMP Securities restated a “market outperform” rating and issued a $12.50 price target on shares of Rithm Capital in a report on Thursday, January 23rd. Keefe, Bruyette & Woods raised their target price on Rithm Capital from $13.00 to $13.50 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. Piper Sandler upped their price target on Rithm Capital from $11.50 to $12.50 and gave the stock a “neutral” rating in a research note on Friday, February 7th. Finally, B. Riley raised Rithm Capital to a “strong-buy” rating in a research note on Tuesday, January 7th. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Rithm Capital currently has an average rating of “Buy” and a consensus target price of $13.25.

Rithm Capital Trading Down 0.3 %

RITM opened at $11.63 on Friday. Rithm Capital Corp. has a fifty-two week low of $10.38 and a fifty-two week high of $12.20. The firm has a market capitalization of $6.05 billion, a PE ratio of 6.96 and a beta of 1.83. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.09 and a quick ratio of 1.35. The company’s 50-day moving average is $11.69 and its 200 day moving average is $11.24.

Rithm Capital (NYSE:RITM) last issued its quarterly earnings data on Thursday, February 6th. The real estate investment trust reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.16. Rithm Capital had a return on equity of 18.15% and a net margin of 17.79%. As a group, research analysts predict 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. Shareholders of record on Monday, March 31st will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 8.60%. The ex-dividend date is Monday, March 31st. Rithm Capital’s dividend payout ratio (DPR) is presently 59.88%.

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.