Institute for Wealth Management LLC. Buys 1,647 Shares of Rithm Capital Corp. (NYSE:RITM)

Institute for Wealth Management LLC. boosted its position in Rithm Capital Corp. (NYSE:RITM) by 2.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 68,545 shares of the real estate investment trust’s stock after buying an additional 1,647 shares during the period. Institute for Wealth Management LLC.’s holdings in Rithm Capital were worth $742,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in RITM. Squarepoint Ops LLC acquired a new stake in Rithm Capital in the second quarter valued at approximately $774,000. AQR Capital Management LLC increased its stake in Rithm Capital by 4.1% during the 2nd quarter. AQR Capital Management LLC now owns 29,848 shares of the real estate investment trust’s stock valued at $326,000 after purchasing an additional 1,183 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in Rithm Capital by 6.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 122,684 shares of the real estate investment trust’s stock valued at $1,338,000 after purchasing an additional 7,965 shares in the last quarter. Algert Global LLC raised its holdings in shares of Rithm Capital by 276.5% in the 2nd quarter. Algert Global LLC now owns 48,678 shares of the real estate investment trust’s stock worth $531,000 after acquiring an additional 35,748 shares during the last quarter. Finally, Creative Planning lifted its holdings in shares of Rithm Capital by 5.9% in the second quarter. Creative Planning now owns 63,957 shares of the real estate investment trust’s stock valued at $698,000 after purchasing an additional 3,557 shares in the last quarter. 44.92% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have issued reports on RITM. Wedbush reaffirmed an “outperform” rating and set a $14.00 price objective on shares of Rithm Capital in a report on Thursday, November 7th. JMP Securities reiterated a “market outperform” rating and issued a $12.50 price objective on shares of Rithm Capital in a research note on Thursday, January 23rd. Keefe, Bruyette & Woods upped their target price on Rithm Capital from $13.00 to $13.50 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. B. Riley raised Rithm Capital to a “strong-buy” rating in a research report on Tuesday, January 7th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $13.00 price objective on shares of Rithm Capital in a research report on Thursday, November 21st. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $12.94.

Rithm Capital Price Performance

Shares of NYSE RITM opened at $11.53 on Friday. The company has a current ratio of 1.35, a quick ratio of 1.35 and a debt-to-equity ratio of 1.63. The stock has a fifty day simple moving average of $11.11 and a two-hundred day simple moving average of $11.14. Rithm Capital Corp. has a 1-year low of $9.97 and a 1-year high of $12.02. The firm has a market cap of $5.99 billion, a price-to-earnings ratio of 11.64 and a beta of 1.79.

Rithm Capital (NYSE:RITM) last announced its quarterly earnings results on Tuesday, October 29th. The real estate investment trust reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $0.12. The company had revenue of $619.51 million for the quarter, compared to analysts’ expectations of $1.11 billion. Rithm Capital had a net margin of 14.99% and a return on equity of 17.54%. During the same period in the prior year, the company posted $0.58 EPS. Analysts anticipate that Rithm Capital Corp. will post 1.95 earnings per share for the current year.

Rithm Capital Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st were paid a $0.25 dividend. The ex-dividend date was Tuesday, December 31st. This represents a $1.00 annualized dividend and a yield of 8.68%. Rithm Capital’s dividend payout ratio is currently 101.01%.

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.