Murphy & Mullick Capital Management Corp Makes New Investment in Rithm Capital Corp. (NYSE:RITM)

Murphy & Mullick Capital Management Corp purchased a new stake in Rithm Capital Corp. (NYSE:RITM) in the fourth quarter, Holdings Channel reports. The firm purchased 19,320 shares of the real estate investment trust’s stock, valued at approximately $214,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in RITM. JPMorgan Chase & Co. grew its holdings in Rithm Capital by 119.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,608,008 shares of the real estate investment trust’s stock valued at $52,301,000 after buying an additional 2,504,529 shares in the last quarter. Azora Capital LP increased its position in Rithm Capital by 107.6% during the third quarter. Azora Capital LP now owns 4,383,821 shares of the real estate investment trust’s stock worth $49,756,000 after purchasing an additional 2,271,671 shares during the last quarter. Soros Fund Management LLC purchased a new position in Rithm Capital during the third quarter worth about $23,835,000. Maven Securities LTD acquired a new position in Rithm Capital in the 3rd quarter valued at about $11,350,000. Finally, Wellington Management Group LLP grew its stake in shares of Rithm Capital by 37.8% in 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 buying an additional 978,954 shares during the period. Institutional investors and hedge funds own 44.92% of the company’s stock.

Rithm Capital Stock Performance

Shares of Rithm Capital stock opened at $11.68 on Wednesday. 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 stock has a market capitalization of $6.08 billion, a price-to-earnings ratio of 6.99 and a beta of 1.83. The business has a 50-day moving average of $11.66 and a 200 day moving average of $11.23. Rithm Capital Corp. has a 12 month low of $10.38 and a 12 month high of $12.20.

Rithm Capital (NYSE:RITM) last announced its quarterly earnings data on Thursday, February 6th. The real estate investment trust reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.44 by $0.16. Rithm Capital had a net margin of 17.79% and a return on equity of 18.15%. As a group, sell-side analysts forecast that Rithm Capital Corp. will post 1.93 earnings per share for the current year.

Rithm Capital Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.00 annualized dividend and a yield of 8.56%. Rithm Capital’s payout ratio is 59.88%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on RITM. Piper Sandler upped their price objective on Rithm Capital from $11.50 to $12.50 and gave the company a “neutral” rating in a report on Friday, February 7th. Keefe, Bruyette & Woods increased their price target on Rithm Capital from $13.00 to $13.50 and gave the stock 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, JMP Securities reaffirmed a “market outperform” rating and issued a $12.50 target price on shares of Rithm Capital in a research report on Thursday, January 23rd. One research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, Rithm Capital currently has an average rating of “Buy” and a consensus target price of $13.25.

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.