Elo Mutual Pension Insurance Co Invests $205,000 in Rithm Capital Corp. (NYSE:RITM)

Elo Mutual Pension Insurance Co purchased a new position in Rithm Capital Corp. (NYSE:RITM) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 18,899 shares of the real estate investment trust’s stock, valued at approximately $205,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of RITM. SeaCrest Wealth Management LLC raised its holdings in shares of Rithm Capital by 1.0% during the 4th quarter. SeaCrest Wealth Management LLC now owns 94,566 shares of the real estate investment trust’s stock worth $1,024,000 after acquiring an additional 951 shares during the period. 1620 Investment Advisors Inc. raised its stake in Rithm Capital by 2.1% during the fourth 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 during the period. Summit Trail Advisors LLC boosted 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 valued at $547,000 after purchasing an additional 967 shares during the last quarter. Steward Partners Investment Advisory LLC grew its stake in shares of 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 valued at $388,000 after buying an additional 1,016 shares during the period. Finally, US Bancorp DE increased its holdings in shares of Rithm Capital by 3.7% during the 4th quarter. US Bancorp DE now owns 32,458 shares of the real estate investment trust’s stock worth $352,000 after buying an additional 1,155 shares during the last quarter. 44.92% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms recently commented on RITM. Wedbush reiterated an “outperform” rating and issued a $14.00 price objective on shares of Rithm Capital in a report on Friday. B. Riley raised Rithm Capital to a “strong-buy” rating in a research note on Tuesday, January 7th. JMP Securities reiterated a “market outperform” rating and set a $12.50 price target on shares of Rithm Capital in a research report on Thursday, January 23rd. 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 report on Friday, February 7th. Finally, Keefe, Bruyette & Woods upped their price target on Rithm Capital from $13.00 to $13.50 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Rithm Capital currently has a consensus rating of “Buy” and a consensus price target of $13.25.

Rithm Capital Stock Performance

NYSE:RITM opened at $11.46 on Tuesday. Rithm Capital Corp. has a 52 week low of $10.38 and a 52 week high of $12.20. The company has a fifty day simple moving average of $11.69 and a two-hundred day simple moving average of $11.23. The company has a quick ratio of 1.35, a current ratio of 1.09 and a debt-to-equity ratio of 1.74. The company has a market cap of $5.96 billion, a price-to-earnings ratio of 6.86 and a beta of 1.83.

Rithm Capital (NYSE:RITM) last posted its quarterly 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%. As a group, equities analysts anticipate that Rithm Capital Corp. will post 1.93 earnings per share for the current fiscal year.

Rithm Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 8.73%. The ex-dividend date is Monday, March 31st. Rithm Capital’s dividend payout ratio is presently 59.88%.

Rithm Capital 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.