Rithm Capital Corp. (NYSE:RITM) is Bayview Asset Management LLC’s 6th Largest Position

Bayview Asset Management LLC raised its stake in shares of Rithm Capital Corp. (NYSE:RITM) by 7.1% during the 4th quarter, HoldingsChannel.com reports. The firm owned 150,000 shares of the real estate investment trust’s stock after acquiring an additional 10,000 shares during the quarter. Rithm Capital makes up 1.3% of Bayview Asset Management LLC’s investment portfolio, making the stock its 6th largest position. Bayview Asset Management LLC’s holdings in Rithm Capital were worth $1,624,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of RITM. Wilmington Savings Fund Society FSB acquired a new stake in Rithm Capital in the 3rd quarter worth about $43,000. Quarry LP lifted its position in shares of Rithm Capital by 47.5% in the fourth quarter. Quarry LP now owns 4,118 shares of the real estate investment trust’s stock valued at $45,000 after acquiring an additional 1,327 shares in the last quarter. Householder Group Estate & Retirement Specialist LLC boosted its stake in shares of Rithm Capital by 86.7% in the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 4,439 shares of the real estate investment trust’s stock worth $48,000 after acquiring an additional 2,062 shares during the last quarter. Quadrant Capital Group LLC increased its position in shares of Rithm Capital by 35.2% during the fourth quarter. Quadrant Capital Group LLC now owns 4,655 shares of the real estate investment trust’s stock worth $50,000 after purchasing an additional 1,211 shares in the last quarter. Finally, C M Bidwell & Associates Ltd. acquired a new position in Rithm Capital in the 4th quarter valued at $81,000. Hedge funds and other institutional investors own 44.92% of the company’s stock.

Analyst Upgrades and Downgrades

RITM has been the topic of several recent research reports. UBS Group lowered their target price on shares of Rithm Capital from $14.00 to $13.00 and set a “buy” rating on the stock in a research note on Wednesday, April 16th. Piper Sandler raised shares of Rithm Capital from a “neutral” rating to an “overweight” rating and raised their price target for the stock from $12.50 to $14.00 in a research note on Monday, April 28th. BTIG Research reaffirmed a “buy” rating and set a $16.00 price objective on shares of Rithm Capital in a research note on Friday, April 25th. Jones Trading reissued a “buy” rating and issued a $12.50 target price on shares of Rithm Capital in a research note on Tuesday, April 29th. Finally, JMP Securities restated a “market outperform” rating and set a $12.50 target price on shares of Rithm Capital in a report on Thursday, January 23rd. Eight analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $13.61.

Rithm Capital Stock Performance

Shares of RITM stock opened at $11.28 on Friday. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.35 and a current ratio of 1.09. The firm has a market cap of $5.98 billion, a P/E ratio of 6.75 and a beta of 1.36. The firm’s 50 day moving average price is $11.06 and its 200-day moving average price is $11.10. Rithm Capital Corp. has a one year low of $9.13 and a one year high of $12.20.

Rithm Capital (NYSE:RITM) last posted its quarterly earnings data on Friday, April 25th. The real estate investment trust reported $0.52 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.07. The business had revenue of $28.89 million for the quarter, compared to analyst estimates of $1.27 billion. Rithm Capital had a return on equity of 18.15% and a net margin of 17.79%. During the same quarter in the prior year, the company earned $0.48 earnings per share. As a group, equities research analysts predict that Rithm Capital Corp. will post 1.93 EPS for the current year.

Rithm Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Monday, March 31st were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 8.87%. The ex-dividend date was Monday, March 31st. Rithm Capital’s dividend payout ratio (DPR) is presently 83.33%.

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.