Bayesian Capital Management LP Invests $723,000 in Rithm Capital Corp. (NYSE:RITM)

Bayesian Capital Management LP bought a new position in Rithm Capital Corp. (NYSE:RITM) during the 1st quarter, HoldingsChannel.com reports. The fund bought 64,800 shares of the real estate investment trust’s stock, valued at approximately $723,000.

Several other institutional investors have also made changes to their positions in RITM. Norges Bank purchased a new position in shares of Rithm Capital in the fourth quarter worth approximately $63,896,000. Long Pond Capital LP purchased a new position in shares of Rithm Capital in the first quarter worth approximately $53,025,000. MGO One Seven LLC increased its position in shares of Rithm Capital by 4,525.1% in the fourth quarter. MGO One Seven LLC now owns 768,511 shares of the real estate investment trust’s stock worth $8,208,000 after acquiring an additional 751,895 shares in the last quarter. Allianz Asset Management GmbH boosted its holdings in shares of Rithm Capital by 107.7% during the fourth quarter. Allianz Asset Management GmbH now owns 1,171,379 shares of the real estate investment trust’s stock worth $12,510,000 after purchasing an additional 607,413 shares during the period. Finally, Van ECK Associates Corp boosted its holdings in shares of Rithm Capital by 32.7% during the fourth quarter. Van ECK Associates Corp now owns 1,848,852 shares of the real estate investment trust’s stock worth $19,746,000 after purchasing an additional 456,026 shares during the period. 44.92% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms recently commented on RITM. JMP Securities raised their price target on shares of Rithm Capital from $11.00 to $12.50 and gave the stock a “market outperform” rating in a report on Friday, July 19th. B. Riley restated a “buy” rating and set a $14.00 price target (up from $13.00) on shares of Rithm Capital in a report on Friday, May 10th. Royal Bank of Canada restated an “outperform” rating and set a $12.00 price target on shares of Rithm Capital in a report on Monday, April 1st. Keefe, Bruyette & Woods raised their price target on shares of Rithm Capital from $12.00 to $12.50 and gave the stock an “outperform” rating in a report on Thursday, May 2nd. Finally, Wedbush reiterated an “outperform” rating and issued a $13.00 target price on shares of Rithm Capital in a research note on Thursday, May 9th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $12.45.

Rithm Capital Stock Performance

Shares of Rithm Capital stock traded up $0.11 on Tuesday, reaching $11.53. The stock had a trading volume of 2,783,724 shares, compared to its average volume of 3,249,468. The business’s 50-day moving average price is $11.10 and its two-hundred day moving average price is $10.96. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.29 and a current ratio of 0.29. Rithm Capital Corp. has a fifty-two week low of $8.87 and a fifty-two week high of $11.79. The stock has a market cap of $5.57 billion, a P/E ratio of 7.63 and a beta of 1.82.

Rithm Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 26th. Stockholders of record on Monday, July 1st were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.67%. The ex-dividend date of this dividend was Monday, July 1st. Rithm Capital’s dividend payout ratio is currently 66.67%.

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.