Jackson Thornton Wealth Management LLC Makes New Investment in Rithm Capital Corp. (NYSE:RITM)

Jackson Thornton Wealth Management LLC acquired a new position in Rithm Capital Corp. (NYSE:RITM) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 26,532 shares of the real estate investment trust’s stock, valued at approximately $287,000.

A number of other hedge funds have also recently added to or reduced their stakes in RITM. JPMorgan Chase & Co. boosted its holdings in Rithm Capital by 119.1% in the third 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 during the period. Azora Capital LP boosted its holdings in shares of Rithm Capital by 107.6% during the third quarter. Azora Capital LP now owns 4,383,821 shares of the real estate investment trust’s stock valued at $49,756,000 after acquiring an additional 2,271,671 shares during the period. Soros Fund Management LLC acquired a new position in shares of Rithm Capital during the third quarter valued at $23,835,000. Maven Securities LTD acquired a new position in shares of Rithm Capital during the third quarter valued at $11,350,000. Finally, Wellington Management Group LLP boosted its holdings in shares of Rithm Capital by 37.8% during the third quarter. Wellington Management Group LLP now owns 3,567,917 shares of the real estate investment trust’s stock valued at $40,496,000 after acquiring an additional 978,954 shares during the period. Institutional investors and hedge funds own 44.92% of the company’s stock.

Rithm Capital Price Performance

Shares of NYSE RITM opened at $11.59 on Monday. Rithm Capital Corp. has a fifty-two week low of $10.38 and a fifty-two week high of $12.20. The firm’s 50-day simple moving average is $11.64 and its 200 day simple moving average is $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 stock has a market cap of $6.03 billion, a P/E ratio of 6.94 and a beta of 1.83.

Rithm Capital (NYSE:RITM) last issued its quarterly earnings data 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 18.15%. Equities analysts expect that Rithm Capital Corp. will post 1.93 EPS for the current year.

Rithm Capital Announces Dividend

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 given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 8.63%. Rithm Capital’s dividend payout ratio (DPR) is presently 59.88%.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Piper Sandler boosted their price target 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. Keefe, Bruyette & Woods boosted their price target 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. B. Riley raised shares of Rithm Capital to a “strong-buy” rating in a report on Tuesday, January 7th. Finally, JMP Securities reissued a “market outperform” rating and set a $12.50 price target on shares of Rithm Capital in a report on Thursday, January 23rd. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Rithm Capital has a consensus rating of “Buy” and a consensus target price of $13.25.

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.