Raymond James Financial Services Advisors Inc. Makes New $2.06 Million Investment in Rithm Capital Corp. (NYSE:RITM)

Raymond James Financial Services Advisors Inc. purchased a new position in Rithm Capital Corp. (NYSE:RITM – Get Rating) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 252,089 shares of the real estate investment trust’s stock, valued at approximately $2,060,000.

A number of other hedge funds have also modified their holdings of RITM. Commonwealth Equity Services LLC purchased a new position in shares of Rithm Capital in the fourth quarter worth $3,131,000. Sunbelt Securities Inc. purchased a new position in shares of Rithm Capital in the fourth quarter worth $216,000. State Board of Administration of Florida Retirement System purchased a new position in shares of Rithm Capital in the fourth quarter worth $3,643,000. Envestnet Asset Management Inc. purchased a new position in shares of Rithm Capital in the fourth quarter worth $1,956,000. Finally, Swiss National Bank purchased a new position in shares of Rithm Capital in the fourth quarter worth $9,210,000. 47.30% of the stock is currently owned by institutional investors.

Rithm Capital Price Performance

Rithm Capital stock opened at $8.04 on Thursday. The company has a market cap of $3.88 billion, a price-to-earnings ratio of 14.36 and a beta of 1.79. The firm’s fifty day moving average is $7.94 and its 200 day moving average is $8.56. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.10. Rithm Capital Corp. has a 52-week low of $6.86 and a 52-week high of $11.52.

Rithm Capital (NYSE:RITM – Get Rating) last posted its quarterly earnings data on Thursday, May 4th. The real estate investment trust reported $0.35 earnings per share for the quarter, beating analysts’ consensus estimates of $0.32 by $0.03. Rithm Capital had a net margin of 9.52% and a return on equity of 12.41%. The business had revenue of $783.42 million for the quarter, compared to analysts’ expectations of $807.88 million. During the same quarter in the previous year, the business posted $0.37 earnings per share. Sell-side analysts forecast that Rithm Capital Corp. will post 1.39 EPS for the current fiscal year.

Rithm Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 28th. Shareholders of record on Friday, March 31st were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 12.44%. The ex-dividend date was Thursday, March 30th. Rithm Capital’s dividend payout ratio (DPR) is 178.57%.

Analyst Ratings Changes

RITM has been the topic of several research analyst reports. Raymond James lowered their target price on shares of Rithm Capital from $12.00 to $11.50 in a report on Tuesday. JMP Securities decreased their price target on shares of Rithm Capital from $11.00 to $9.00 and set an “outperform” rating on the stock in a research note on Friday, April 21st. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $10.42.

Rithm Capital Company Profile

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Rithm Capital Corp. is a real estate investment trust, which aims to generate long-term value for investors by investing in mortgage related assets, including operating companies, that offer attractive risk-adjusted returns. It operates through the following segments: Origination, Servicing, MSR Related Investments, Residential Securities, Properties and Loans, Consumer Loans, Mortgage Loans Receivables, and Corporate.