Meridian Financial Partners LLC Makes New $898,000 Investment in Rithm Capital Corp. (NYSE:RITM)

Meridian Financial Partners LLC purchased a new stake in shares of Rithm Capital Corp. (NYSE:RITM) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm purchased 82,961 shares of the real estate investment trust’s stock, valued at approximately $898,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Northwestern Mutual Wealth Management Co. boosted its holdings in Rithm Capital by 154.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 2,513 shares of the real estate investment trust’s stock worth $27,000 after buying an additional 1,525 shares in the last quarter. Truvestments Capital LLC acquired a new stake in shares of Rithm Capital during the 3rd quarter valued at $43,000. Wilmington Savings Fund Society FSB acquired a new stake in shares of Rithm Capital during the 3rd quarter valued at $43,000. Godsey & Gibb Inc. bought a new stake in shares of Rithm Capital during the 3rd quarter worth $51,000. Finally, Future Financial Wealth Managment LLC acquired a new position in shares of Rithm Capital in the 3rd quarter worth $73,000. Institutional investors own 44.92% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the company. B. Riley raised Rithm Capital to a “strong-buy” rating in a report on Tuesday, January 7th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $13.00 price objective on shares of Rithm Capital in a research note on Thursday, November 21st. Wedbush reissued an “outperform” rating and issued a $14.00 target price on shares of Rithm Capital in a research report on Thursday, November 7th. Finally, Keefe, Bruyette & Woods upped their price target on shares of Rithm Capital from $13.00 to $13.50 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. One investment analyst has rated the stock with a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Rithm Capital has an average rating of “Buy” and an average price target of $12.94.

Rithm Capital Stock Performance

Shares of RITM opened at $10.98 on Wednesday. The company’s 50 day moving average price is $10.95 and its 200 day moving average price is $11.10. Rithm Capital Corp. has a 52 week low of $9.97 and a 52 week high of $12.02. The company has a market capitalization of $5.71 billion, a PE ratio of 11.09 and a beta of 1.79. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.35 and a current ratio of 1.35.

Rithm Capital (NYSE:RITM) last issued its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.54 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.12. Rithm Capital had a net margin of 14.99% and a return on equity of 17.54%. The company had revenue of $619.51 million during the quarter, compared to analyst estimates of $1.11 billion. During the same quarter last year, the business posted $0.58 EPS. Research analysts expect that Rithm Capital Corp. will post 1.93 EPS for the current fiscal year.

Rithm Capital Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Tuesday, December 31st will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 9.11%. The ex-dividend date of this dividend is Tuesday, December 31st. Rithm Capital’s payout ratio is currently 101.01%.

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.