Maridea Wealth Management LLC Acquires New Holdings in Rithm Capital Corp. (NYSE:RITM)

Maridea Wealth Management LLC bought a new position in Rithm Capital Corp. (NYSE:RITM) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 70,248 shares of the real estate investment trust’s stock, valued at approximately $761,000.

Other large investors have also recently bought and sold shares of the company. Charles Schwab Investment Management Inc. boosted its stake in Rithm Capital by 7.3% during the third quarter. Charles Schwab Investment Management Inc. now owns 5,364,962 shares of the real estate investment trust’s stock valued at $60,892,000 after buying an additional 366,600 shares during the period. Cerity Partners LLC boosted its position in shares of Rithm Capital by 2.1% during the 3rd quarter. Cerity Partners LLC now owns 72,434 shares of the real estate investment trust’s stock valued at $822,000 after acquiring an additional 1,508 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of Rithm Capital by 1.6% during the third quarter. The Manufacturers Life Insurance Company now owns 124,699 shares of the real estate investment trust’s stock worth $1,415,000 after purchasing an additional 2,015 shares in the last quarter. FMR LLC increased its position in shares of Rithm Capital by 0.9% in the third quarter. FMR LLC now owns 624,501 shares of the real estate investment trust’s stock worth $7,088,000 after purchasing an additional 5,440 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its position in shares of Rithm Capital by 166.6% in the third quarter. BNP Paribas Financial Markets now owns 415,335 shares of the real estate investment trust’s stock worth $4,714,000 after purchasing an additional 259,528 shares during the last quarter. 44.92% of the stock is owned by institutional investors.

Rithm Capital Stock Down 2.1 %

RITM stock opened at $11.39 on Friday. The business’s 50-day moving average is $11.69 and its two-hundred day moving average is $11.23. The company has a market cap of $5.93 billion, a price-to-earnings ratio of 6.82 and a beta of 1.83. Rithm Capital Corp. has a fifty-two week low of $10.38 and a fifty-two week high of $12.20. 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 (NYSE:RITM) last announced its quarterly earnings data 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, analysts forecast that Rithm Capital Corp. will post 1.93 earnings per share for the current year.

Rithm Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 30th. Stockholders of record on Monday, March 31st will be issued a dividend of $0.25 per share. The ex-dividend date is Monday, March 31st. This represents a $1.00 annualized dividend and a dividend yield of 8.78%. Rithm Capital’s dividend payout ratio (DPR) is 59.88%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Wedbush reissued an “outperform” rating and issued a $14.00 price target on shares of Rithm Capital in a research note on Friday. JMP Securities reissued a “market outperform” rating and issued a $12.50 target price 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. Piper Sandler increased their price objective on Rithm Capital from $11.50 to $12.50 and gave the company a “neutral” rating in a research report on Friday, February 7th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Rithm Capital from $13.00 to $13.50 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. One research analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Rithm Capital currently has a consensus rating of “Buy” and an average target price of $13.25.

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.