PFG Investments LLC Acquires 29,073 Shares of Rithm Capital Corp. (NYSE:RITM)

PFG Investments LLC lifted its holdings in Rithm Capital Corp. (NYSE:RITM) by 44.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 94,335 shares of the real estate investment trust’s stock after acquiring an additional 29,073 shares during the period. PFG Investments LLC’s holdings in Rithm Capital were worth $1,022,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. increased its position in Rithm Capital by 154.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 2,513 shares of the real estate investment trust’s stock valued at $27,000 after buying an additional 1,525 shares in the last quarter. Truvestments Capital LLC bought a new stake in Rithm Capital in the 3rd quarter valued at about $43,000. Wilmington Savings Fund Society FSB bought a new stake in Rithm Capital in the 3rd quarter valued at about $43,000. Householder Group Estate & Retirement Specialist LLC increased its position in Rithm Capital by 86.7% in the 4th quarter. Householder Group Estate & Retirement Specialist LLC now owns 4,439 shares of the real estate investment trust’s stock valued at $48,000 after buying an additional 2,062 shares in the last quarter. Finally, Godsey & Gibb Inc. bought a new stake in Rithm Capital in the 3rd quarter valued at about $51,000. 44.92% of the stock is owned by institutional investors.

Rithm Capital Price Performance

Shares of NYSE RITM opened at $11.41 on Wednesday. Rithm Capital Corp. has a twelve month low of $9.97 and a twelve month high of $12.02. The stock’s 50 day moving average price is $11.07 and its 200-day moving average price is $11.14. The company has a market capitalization of $5.93 billion, a PE ratio of 11.52 and a beta of 1.79. The company has a quick ratio of 1.35, a current ratio of 1.35 and a debt-to-equity ratio of 1.63.

Rithm Capital (NYSE:RITM) last announced its earnings results on Tuesday, October 29th. The real estate investment trust reported $0.54 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.12. Rithm Capital had a return on equity of 17.54% and a net margin of 14.99%. The firm had revenue of $619.51 million for the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter in the previous year, the business earned $0.58 EPS. On average, equities analysts anticipate that Rithm Capital Corp. will post 1.95 EPS for the current year.

Rithm Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Tuesday, December 31st will be paid a $0.25 dividend. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.00 annualized dividend and a yield of 8.77%. Rithm Capital’s payout ratio is 101.01%.

Analysts Set New Price Targets

A number of analysts recently commented on the company. B. Riley raised Rithm Capital to a “strong-buy” rating in a research report on Tuesday, January 7th. Wedbush reissued an “outperform” rating and set a $14.00 price objective on shares of Rithm Capital in a report on Thursday, November 7th. Keefe, Bruyette & Woods boosted their price objective on Rithm Capital from $13.00 to $13.50 and gave the stock an “outperform” rating in a report on Tuesday, December 3rd. JMP Securities reissued a “market outperform” rating and set a $12.50 price objective on shares of Rithm Capital in a report on Thursday, January 23rd. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $13.00 price objective on shares of Rithm Capital in a report on Thursday, November 21st. One equities research analyst has rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Rithm Capital has an average rating of “Buy” and a consensus target price of $12.94.

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.