GAMMA Investing LLC Invests $34,000 in Rithm Capital Corp. (NYSE:RITM)

GAMMA Investing LLC bought a new stake in shares of Rithm Capital Corp. (NYSE:RITM) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 3,144 shares of the real estate investment trust’s stock, valued at approximately $34,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Treasurer of the State of North Carolina boosted its position in shares of Rithm Capital by 0.5% during the 3rd quarter. Treasurer of the State of North Carolina now owns 211,577 shares of the real estate investment trust’s stock valued at $1,966,000 after acquiring an additional 1,070 shares during the last quarter. Wedmont Private Capital grew its stake in shares of Rithm Capital by 5.9% in the 4th quarter. Wedmont Private Capital now owns 19,657 shares of the real estate investment trust’s stock worth $209,000 after buying an additional 1,087 shares in the last quarter. HighTower Advisors LLC increased its holdings in shares of Rithm Capital by 0.9% in the 3rd quarter. HighTower Advisors LLC now owns 125,086 shares of the real estate investment trust’s stock worth $1,163,000 after buying an additional 1,139 shares during the last quarter. Simplicity Solutions LLC raised its position in shares of Rithm Capital by 8.0% during the 3rd quarter. Simplicity Solutions LLC now owns 16,346 shares of the real estate investment trust’s stock valued at $152,000 after buying an additional 1,214 shares in the last quarter. Finally, Harbour Investments Inc. lifted its holdings in shares of Rithm Capital by 1.2% in the 3rd quarter. Harbour Investments Inc. now owns 108,081 shares of the real estate investment trust’s stock valued at $1,004,000 after acquiring an additional 1,297 shares during the last quarter. 44.92% of the stock is currently owned by institutional investors.

Rithm Capital Trading Up 0.6 %

RITM stock opened at $11.32 on Monday. Rithm Capital Corp. has a 12 month low of $7.59 and a 12 month high of $11.41. The firm’s 50-day moving average is $10.95 and its 200 day moving average is $10.56. The company has a market capitalization of $5.48 billion, a PE ratio of 7.55 and a beta of 1.80. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.30 and a quick ratio of 0.30.

Rithm Capital (NYSE:RITM) last issued its earnings results on Wednesday, February 7th. The real estate investment trust reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.35 by $0.16. Rithm Capital had a net margin of 19.77% and a return on equity of 19.38%. The business had revenue of $709.47 million for the quarter, compared to analyst estimates of $887.04 million. During the same period last year, the company posted $0.33 earnings per share. On average, research analysts anticipate that Rithm Capital Corp. will post 1.69 EPS for the current year.

Rithm Capital Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Monday, April 1st were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 8.83%. The ex-dividend date of this dividend was Thursday, March 28th. Rithm Capital’s dividend payout ratio (DPR) is presently 66.67%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. JMP Securities reissued a “market outperform” rating and set a $11.00 price objective on shares of Rithm Capital in a research note on Thursday, April 18th. Jonestrading boosted their target price on Rithm Capital from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Thursday, February 22nd. Argus raised their price target on Rithm Capital from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Tuesday, March 5th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $12.00 price objective on shares of Rithm Capital in a research note on Monday, April 1st. Finally, B. Riley increased their target price on shares of Rithm Capital from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $12.05.

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.