Aigen Investment Management LP Makes New Investment in Rithm Capital Corp. (NYSE:RITM)

Aigen Investment Management LP acquired a new position in shares of Rithm Capital Corp. (NYSE:RITM) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 25,054 shares of the real estate investment trust’s stock, valued at approximately $271,000.

A number of other institutional investors have also recently bought and sold shares of RITM. Geode Capital Management LLC raised its stake in shares of Rithm Capital by 7.8% during the 3rd quarter. Geode Capital Management LLC now owns 8,415,057 shares of the real estate investment trust’s stock worth $95,537,000 after purchasing an additional 610,698 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Rithm Capital by 7.3% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 5,364,962 shares of the real estate investment trust’s stock worth $60,892,000 after purchasing an additional 366,600 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of Rithm Capital by 119.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,608,008 shares of the real estate investment trust’s stock worth $52,301,000 after purchasing an additional 2,504,529 shares in the last quarter. Azora Capital LP raised its stake in shares of Rithm Capital by 107.6% during the 3rd 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 in the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of Rithm Capital by 37.8% during the 3rd quarter. Wellington Management Group LLP now owns 3,567,917 shares of the real estate investment trust’s stock worth $40,496,000 after purchasing an additional 978,954 shares in 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 have recently weighed in on RITM. Keefe, Bruyette & Woods raised 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. JMP Securities reissued a “market outperform” rating and issued a $12.50 price objective on shares of Rithm Capital in a research note on Thursday, January 23rd. B. Riley raised Rithm Capital to a “strong-buy” rating in a research note on Tuesday, January 7th. Royal Bank of Canada reissued an “outperform” rating and issued a $13.00 price objective on shares of Rithm Capital in a research note on Thursday, November 21st. Finally, Piper Sandler raised their price objective on Rithm Capital from $11.50 to $12.50 and gave the company a “neutral” rating in a research note on Friday, February 7th. One analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Rithm Capital has a consensus rating of “Buy” and an average price target of $13.25.

Rithm Capital Stock Up 0.9 %

Shares of RITM stock opened at $11.83 on Friday. The company has a market capitalization of $6.16 billion, a price-to-earnings ratio of 7.08 and a beta of 1.83. The stock’s 50 day simple moving average is $11.50 and its 200 day simple moving average is $11.23. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.35 and a current ratio of 1.09. Rithm Capital Corp. has a twelve month low of $10.38 and a twelve month high of $12.20.

Rithm Capital (NYSE:RITM) last released its earnings results on Thursday, February 6th. The real estate investment trust reported $0.60 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.44 by $0.16. Rithm Capital had a return on equity of 18.15% and a net margin of 17.79%. As a group, 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 Friday, January 31st. Shareholders of record on Tuesday, December 31st were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 8.46%. The ex-dividend date was Tuesday, December 31st. Rithm Capital’s dividend payout ratio (DPR) is currently 59.88%.

Rithm Capital Company 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.