Pacific Sun Financial Corp Has $328,000 Stake in Rithm Capital Corp. (NYSE:RITM)

Pacific Sun Financial Corp raised its position in Rithm Capital Corp. (NYSE:RITM) by 51.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 30,322 shares of the real estate investment trust’s stock after acquiring an additional 10,247 shares during the quarter. Pacific Sun Financial Corp’s holdings in Rithm Capital were worth $328,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Truvestments Capital LLC acquired a new stake in shares of Rithm Capital during the 3rd quarter worth about $43,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Rithm Capital during the 3rd quarter worth about $43,000. Householder Group Estate & Retirement Specialist LLC lifted its stake in shares of Rithm Capital by 86.7% during the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 4,439 shares of the real estate investment trust’s stock worth $48,000 after buying an additional 2,062 shares during the last quarter. FNY Investment Advisers LLC lifted its stake in shares of Rithm Capital by 8,600.0% during the 4th quarter. FNY Investment Advisers LLC now owns 8,700 shares of the real estate investment trust’s stock worth $94,000 after buying an additional 8,600 shares during the last quarter. Finally, Allworth Financial LP increased its position in Rithm Capital by 281.2% during the third quarter. Allworth Financial LP now owns 8,695 shares of the real estate investment trust’s stock worth $99,000 after acquiring an additional 6,414 shares during the period. Institutional investors and hedge funds own 44.92% of the company’s stock.

Rithm Capital Trading Down 0.4 %

RITM opened at $11.94 on Thursday. The company’s 50 day moving average is $11.28 and its 200-day moving average is $11.17. Rithm Capital Corp. has a 1-year low of $10.38 and a 1-year high of $12.10. 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 company has a market cap of $6.20 billion, a P/E ratio of 7.15 and a beta of 1.79.

Rithm Capital (NYSE:RITM) last posted its quarterly earnings results 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 18.46%. Equities research analysts predict that Rithm Capital Corp. will post 1.93 earnings per share for the current fiscal year.

Rithm Capital Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, January 31st. Stockholders 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 dividend on an annualized basis and a dividend yield of 8.38%. Rithm Capital’s payout ratio is currently 59.88%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on RITM. B. Riley raised shares of Rithm Capital to a “strong-buy” rating in a research report on Tuesday, January 7th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $13.00 price target on shares of Rithm Capital in a research report on Thursday, November 21st. Keefe, Bruyette & Woods raised their target price on shares of Rithm Capital from $13.00 to $13.50 and gave the company an “outperform” rating in a report on Tuesday, December 3rd. Wedbush reissued an “outperform” rating and issued a $14.00 target price on shares of Rithm Capital in a report on Thursday, November 7th. Finally, Piper Sandler raised their target price on shares of Rithm Capital from $11.50 to $12.50 and gave the company a “neutral” rating in a report on Friday, February 7th. One equities research analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $12.94.

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.