Fox Run Management L.L.C. Reduces Stock Holdings in Rithm Capital Corp. (NYSE:RITM)

Fox Run Management L.L.C. reduced its position in shares of Rithm Capital Corp. (NYSE:RITM) by 12.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 58,981 shares of the real estate investment trust’s stock after selling 8,082 shares during the quarter. Fox Run Management L.L.C.’s holdings in Rithm Capital were worth $639,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. SeaCrest Wealth Management LLC grew its position in Rithm Capital by 1.0% during the fourth quarter. SeaCrest Wealth Management LLC now owns 94,566 shares of the real estate investment trust’s stock valued at $1,024,000 after buying an additional 951 shares during the period. 1620 Investment Advisors Inc. increased its stake in shares of Rithm Capital by 2.1% in the 4th quarter. 1620 Investment Advisors Inc. now owns 46,035 shares of the real estate investment trust’s stock worth $499,000 after purchasing an additional 960 shares in the last quarter. Summit Trail Advisors LLC raised its holdings in Rithm Capital by 2.0% in the 4th quarter. Summit Trail Advisors LLC now owns 49,380 shares of the real estate investment trust’s stock worth $547,000 after purchasing an additional 967 shares during the period. Steward Partners Investment Advisory LLC raised its holdings in Rithm Capital by 2.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 35,792 shares of the real estate investment trust’s stock worth $388,000 after purchasing an additional 1,016 shares during the period. Finally, US Bancorp DE lifted its position in Rithm Capital by 3.7% during the fourth quarter. US Bancorp DE now owns 32,458 shares of the real estate investment trust’s stock valued at $352,000 after purchasing an additional 1,155 shares in the last quarter. Hedge funds and other institutional investors own 44.92% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have commented on the company. JMP Securities restated a “market outperform” rating and issued a $12.50 price target on shares of Rithm Capital in a research report on Thursday, January 23rd. Keefe, Bruyette & Woods raised their target price 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. B. Riley raised shares of Rithm Capital to a “strong-buy” rating in a report on Tuesday, January 7th. Finally, Piper Sandler increased their price objective on shares of Rithm Capital from $11.50 to $12.50 and gave the stock a “neutral” rating in a research note on Friday, February 7th. One research analyst has rated the stock with a hold rating, four have assigned 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 price target of $13.25.

Rithm Capital Stock Up 1.5 %

NYSE RITM opened at $11.81 on Tuesday. Rithm Capital Corp. has a 12 month low of $10.38 and a 12 month high of $12.20. The company has a current ratio of 1.09, a quick ratio of 1.35 and a debt-to-equity ratio of 1.74. The stock has a market cap of $6.15 billion, a PE ratio of 7.07 and a beta of 1.83. The stock’s 50 day moving average is $11.66 and its 200 day moving average is $11.23.

Rithm Capital (NYSE:RITM) last released its earnings results on Thursday, February 6th. The real estate investment trust reported $0.60 EPS for the quarter, topping the consensus estimate of $0.44 by $0.16. Rithm Capital had a net margin of 17.79% and a return on equity of 18.15%. Research analysts predict that Rithm Capital Corp. will post 1.93 EPS for the current fiscal year.

Rithm Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be given a dividend of $0.25 per share. The ex-dividend date is Monday, March 31st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.47%. Rithm Capital’s payout ratio is 59.88%.

About Rithm Capital

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.