Edgestream Partners L.P. Sells 51,947 Shares of Rithm Capital Corp. (NYSE:RITM)

Edgestream Partners L.P. reduced its position in shares of Rithm Capital Corp. (NYSE:RITM) by 25.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 156,016 shares of the real estate investment trust’s stock after selling 51,947 shares during the period. Edgestream Partners L.P.’s holdings in Rithm Capital were worth $1,690,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the stock. Raymond James Financial Inc. bought a new stake in Rithm Capital in the fourth quarter valued at approximately $7,572,000. Arizona State Retirement System boosted its holdings in Rithm Capital by 8.3% in the fourth quarter. Arizona State Retirement System now owns 150,834 shares of the real estate investment trust’s stock valued at $1,634,000 after acquiring an additional 11,620 shares during the last quarter. Aigen Investment Management LP bought a new stake in Rithm Capital in the fourth quarter valued at approximately $271,000. Proficio Capital Partners LLC bought a new stake in Rithm Capital in the fourth quarter valued at approximately $176,000. Finally, Victory Capital Management Inc. boosted its holdings in Rithm Capital by 19.5% in the fourth quarter. Victory Capital Management Inc. now owns 238,188 shares of the real estate investment trust’s stock valued at $2,580,000 after acquiring an additional 38,855 shares during the last quarter. 44.92% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on RITM. Royal Bank of Canada reissued an “outperform” rating and issued a $13.00 price target on shares of Rithm Capital in a research note on Thursday, November 21st. B. Riley raised Rithm Capital to a “strong-buy” rating in a research note on Tuesday, January 7th. Keefe, Bruyette & Woods boosted their price target on Rithm Capital from $13.00 to $13.50 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. Piper Sandler boosted their price target on Rithm Capital from $11.50 to $12.50 and gave the company a “neutral” rating in a research note on Friday, February 7th. Finally, JMP Securities reissued a “market outperform” rating and issued a $12.50 price target on shares of Rithm Capital in a research note on Thursday, January 23rd. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $13.25.

Rithm Capital Price Performance

Shares of NYSE:RITM opened at $11.52 on Tuesday. The company has a quick ratio of 1.35, a current ratio of 1.09 and a debt-to-equity ratio of 1.74. Rithm Capital Corp. has a twelve month low of $10.38 and a twelve month high of $12.20. The stock’s 50 day moving average is $11.50 and its 200-day moving average is $11.23. The firm has a market capitalization of $6.00 billion, a price-to-earnings ratio of 6.90 and a beta of 1.83.

Rithm Capital (NYSE:RITM) last issued its earnings results on Thursday, February 6th. The real estate investment trust reported $0.60 earnings per share for the quarter, topping 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%. Sell-side analysts forecast that Rithm Capital Corp. will post 1.93 EPS for the current fiscal year.

Rithm Capital Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.68%. The ex-dividend date was Tuesday, December 31st. Rithm Capital’s payout ratio is 59.88%.

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.