Schonfeld Strategic Advisors LLC Increases Holdings in Rithm Capital Corp. (NYSE:RITM)

Schonfeld Strategic Advisors LLC increased its position in Rithm Capital Corp. (NYSE:RITM) by 30.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 78,209 shares of the real estate investment trust’s stock after purchasing an additional 18,436 shares during the quarter. Schonfeld Strategic Advisors LLC’s holdings in Rithm Capital were worth $847,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also bought and sold shares of RITM. Wilmington Savings Fund Society FSB purchased a new stake in Rithm Capital during the 3rd quarter valued at $43,000. Quarry LP grew its position in Rithm Capital by 47.5% during the fourth quarter. Quarry LP now owns 4,118 shares of the real estate investment trust’s stock valued at $45,000 after buying an additional 1,327 shares during the period. Householder Group Estate & Retirement Specialist LLC increased its stake in shares of Rithm Capital by 86.7% in 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 purchasing an additional 2,062 shares in the last quarter. Quadrant Capital Group LLC increased its position in Rithm Capital by 35.2% in the fourth quarter. Quadrant Capital Group LLC now owns 4,655 shares of the real estate investment trust’s stock worth $50,000 after buying an additional 1,211 shares in the last quarter. Finally, C M Bidwell & Associates Ltd. purchased a new stake in Rithm Capital in the 4th quarter worth approximately $81,000. Institutional investors own 44.92% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on RITM. BTIG Research reissued a “buy” rating and set a $16.00 price target on shares of Rithm Capital in a report on Friday, April 25th. Piper Sandler upgraded shares of Rithm Capital from a “neutral” rating to an “overweight” rating and increased their price objective for the company from $12.50 to $14.00 in a research report on Monday, April 28th. Wedbush restated an “outperform” rating and set a $14.00 price target on shares of Rithm Capital in a report on Friday, March 28th. JMP Securities reaffirmed a “market outperform” rating and issued a $12.50 price objective on shares of Rithm Capital in a research report on Thursday, January 23rd. Finally, UBS Group cut their price target on Rithm Capital from $14.00 to $13.00 and set a “buy” rating on the stock in a research note on Wednesday, April 16th. Eight investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Rithm Capital presently has an average rating of “Buy” and an average target price of $13.61.

Rithm Capital Stock Performance

Shares of RITM opened at $11.28 on Friday. The stock has a fifty day moving average price of $11.00 and a 200-day moving average price of $11.11. The company has a current ratio of 1.09, a quick ratio of 1.35 and a debt-to-equity ratio of 1.74. Rithm Capital Corp. has a 12 month low of $9.13 and a 12 month high of $12.20. The firm has a market cap of $5.98 billion, a PE ratio of 6.75 and a beta of 1.32.

Rithm Capital (NYSE:RITM) last posted its quarterly earnings results on Friday, April 25th. The real estate investment trust reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.45 by $0.07. The business had revenue of $28.89 million during the quarter, compared to analysts’ expectations of $1.27 billion. Rithm Capital had a net margin of 17.79% and a return on equity of 18.15%. During the same quarter last year, the company posted $0.48 earnings per share. 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 firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 8.87%. The ex-dividend date of this dividend was Monday, March 31st. Rithm Capital’s payout ratio is 83.33%.

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.