Concurrent Investment Advisors LLC Increases Stock Holdings in Rithm Capital Corp. (NYSE:RITM)

Concurrent Investment Advisors LLC increased its holdings in Rithm Capital Corp. (NYSE:RITM) by 28.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 108,684 shares of the real estate investment trust’s stock after acquiring an additional 24,039 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Rithm Capital were worth $1,177,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in RITM. Truvestments Capital LLC purchased a new stake in Rithm Capital in the third quarter worth $43,000. Wilmington Savings Fund Society FSB bought a new position in Rithm Capital in the third quarter worth $43,000. Householder Group Estate & Retirement Specialist LLC raised its holdings in 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 purchasing an additional 2,062 shares in the last quarter. FNY Investment Advisers LLC raised its holdings in Rithm Capital by 8,600.0% in the fourth quarter. FNY Investment Advisers LLC now owns 8,700 shares of the real estate investment trust’s stock worth $94,000 after purchasing an additional 8,600 shares in the last quarter. Finally, Allworth Financial LP raised its holdings in Rithm Capital by 281.2% in the third quarter. Allworth Financial LP now owns 8,695 shares of the real estate investment trust’s stock worth $99,000 after purchasing an additional 6,414 shares in the last quarter. Hedge funds and other institutional investors own 44.92% of the company’s stock.

Rithm Capital Price Performance

Shares of NYSE:RITM opened at $11.89 on Friday. Rithm Capital Corp. has a 1-year low of $10.38 and a 1-year high of $12.10. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.09 and a quick ratio of 1.35. The business has a fifty day moving average price of $11.31 and a 200-day moving average price of $11.19. The company has a market capitalization of $6.19 billion, a PE ratio of 7.12 and a beta of 1.79.

Rithm Capital (NYSE:RITM) last issued its quarterly earnings results on Thursday, February 6th. The real estate investment trust reported $0.60 earnings per share for the quarter, beating the consensus estimate 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, equities analysts expect that Rithm Capital Corp. will post 1.93 EPS for the current fiscal year.

Rithm Capital Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Tuesday, December 31st were given a dividend of $0.25 per share. The ex-dividend date was Tuesday, December 31st. This represents a $1.00 annualized dividend and a dividend yield of 8.41%. Rithm Capital’s dividend payout ratio (DPR) is presently 59.88%.

Wall Street Analyst Weigh In

A number of research firms have issued reports on RITM. Piper Sandler increased their price objective on Rithm Capital from $11.50 to $12.50 and gave the stock a “neutral” rating in a report on Friday, February 7th. Royal Bank of Canada reiterated an “outperform” rating and issued a $13.00 price objective on shares of Rithm Capital in a report on Thursday, November 21st. B. Riley upgraded Rithm Capital to a “strong-buy” rating in a report on Tuesday, January 7th. Wedbush reiterated an “outperform” rating and issued a $14.00 price objective on shares of Rithm Capital in a report on Thursday, November 7th. Finally, JMP Securities restated 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, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Buy” and an average target price of $13.07.

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.