Bluefin Capital Management LLC Acquires Shares of 46,500 Rithm Capital Corp. (NYSE:RITM)

Bluefin Capital Management LLC acquired a new stake in shares of Rithm Capital Corp. (NYSE:RITM) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 46,500 shares of the real estate investment trust’s stock, valued at approximately $504,000.

Other institutional investors have also added to or reduced their stakes in the company. Parkside Financial Bank & Trust grew its stake in shares of Rithm Capital by 605.1% during the fourth quarter. Parkside Financial Bank & Trust now owns 2,489 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 2,136 shares during the last quarter. American National Bank bought a new stake in shares of Rithm Capital during the fourth quarter worth $27,000. GAMMA Investing LLC bought a new stake in shares of Rithm Capital during the fourth quarter worth $34,000. Altshuler Shaham Ltd bought a new stake in shares of Rithm Capital during the fourth quarter worth $43,000. Finally, Cape Investment Advisory Inc. bought a new stake in shares of Rithm Capital during the fourth quarter worth $71,000. 44.92% of the stock is currently owned by institutional investors and hedge funds.

Rithm Capital Stock Down 0.8 %

Shares of NYSE RITM traded down $0.09 during trading on Friday, hitting $11.17. 667,383 shares of the company traded hands, compared to its average volume of 3,269,307. The business’s fifty day moving average is $11.10 and its 200 day moving average is $10.86. Rithm Capital Corp. has a fifty-two week low of $8.87 and a fifty-two week high of $11.60. The firm has a market capitalization of $5.40 billion, a price-to-earnings ratio of 7.51 and a beta of 1.80. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.29 and a current ratio of 0.29.

Rithm Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Monday, April 1st were issued a dividend of $0.25 per share. The ex-dividend date was Thursday, March 28th. This represents a $1.00 annualized dividend and a dividend yield of 8.95%. Rithm Capital’s dividend payout ratio is currently 66.67%.

Analyst Ratings Changes

RITM has been the topic of several analyst reports. Wedbush reissued an “outperform” rating and issued a $13.00 price objective on shares of Rithm Capital in a research note on Thursday, May 9th. Argus boosted their price objective on shares of Rithm Capital from $11.00 to $12.00 and gave the stock a “buy” rating in a research note on Tuesday, March 5th. JMP Securities reissued a “market outperform” rating and issued a $11.00 price objective on shares of Rithm Capital in a research note on Thursday, April 18th. B. Riley reissued a “buy” rating and issued a $14.00 price objective (up previously from $13.00) on shares of Rithm Capital in a research note on Friday, May 10th. Finally, Jonestrading upped their price target on shares of Rithm Capital from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Thursday, February 22nd. One analyst has rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $12.32.

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.