Lewis Asset Management LLC Takes Position in Rithm Capital Corp. (NYSE:RITM)

Lewis Asset Management 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 and Exchange Commission. The firm bought 263,375 shares of the real estate investment trust’s stock, valued at approximately $2,813,000. Rithm Capital comprises about 2.6% of Lewis Asset Management LLC’s investment portfolio, making the stock its 8th biggest holding. Lewis Asset Management LLC owned approximately 0.05% of Rithm Capital at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in RITM. Treasurer of the State of North Carolina raised its stake in Rithm Capital by 0.5% in 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 period. Wedmont Private Capital raised its stake in 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 valued at $209,000 after acquiring an additional 1,087 shares during the period. HighTower Advisors LLC raised its stake in 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 valued at $1,163,000 after acquiring an additional 1,139 shares during the period. Yousif Capital Management LLC grew its holdings in Rithm Capital by 5.9% during the 1st quarter. Yousif Capital Management LLC now owns 21,710 shares of the real estate investment trust’s stock valued at $238,000 after buying an additional 1,210 shares in the last quarter. Finally, Simplicity Solutions LLC grew its holdings in 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. 44.92% of the stock is owned by hedge funds and other institutional investors.

Rithm Capital Stock Performance

NYSE:RITM opened at $10.78 on Friday. The business has a 50 day moving average of $10.79 and a 200 day moving average of $10.32. The company has a market capitalization of $5.21 billion, a price-to-earnings ratio of 9.80 and a beta of 1.82. Rithm Capital Corp. has a 1-year low of $7.59 and a 1-year high of $11.33. 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 announced its quarterly earnings data on Wednesday, February 7th. The real estate investment trust reported $0.51 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.16. Rithm Capital had a return on equity of 18.49% and a net margin of 17.15%. The firm had revenue of $709.47 million during the quarter, compared to the consensus estimate of $887.04 million. During the same quarter in the previous year, the company posted $0.33 earnings per share. On average, sell-side analysts predict that Rithm Capital Corp. will post 1.69 earnings per share for the current fiscal year.

Rithm Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Shareholders of record on Monday, April 1st will be given a $0.25 dividend. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $1.00 annualized dividend and a yield of 9.28%. Rithm Capital’s payout ratio is currently 90.91%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on RITM. Jonestrading lifted their target price on Rithm Capital from $11.00 to $12.00 and gave the company a “buy” rating in a report on Thursday, February 22nd. Wedbush reaffirmed an “outperform” rating and set a $13.00 target price on shares of Rithm Capital in a report on Monday, February 26th. Argus lifted their target price on Rithm Capital from $11.00 to $12.00 and gave the company a “buy” rating in a report on Tuesday, March 5th. JMP Securities boosted their price objective on Rithm Capital from $10.50 to $11.00 and gave the stock a “market outperform” rating in a report on Thursday, January 18th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $12.00 price objective on shares of Rithm Capital in a report on Monday. Eight research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company presently has a consensus rating of “Buy” and an average price target of $12.00.

About Rithm Capital

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.