Bleakley Financial Group LLC Has $133,000 Stock Holdings in Rithm Capital Corp. (NYSE:RITM)

Bleakley Financial Group LLC lowered its stake in shares of Rithm Capital Corp. (NYSE:RITM) by 24.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,414 shares of the real estate investment trust’s stock after selling 3,932 shares during the period. Bleakley Financial Group LLC’s holdings in Rithm Capital were worth $133,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Meeder Asset Management Inc. acquired a new stake in shares of Rithm Capital in the fourth quarter valued at approximately $95,000. Mirae Asset Global Investments Co. Ltd. boosted its position in Rithm Capital by 5.7% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 901,972 shares of the real estate investment trust’s stock worth $9,633,000 after purchasing an additional 48,484 shares during the period. International Assets Investment Management LLC increased its holdings in shares of Rithm Capital by 1,006.6% in the fourth quarter. International Assets Investment Management LLC now owns 157,972 shares of the real estate investment trust’s stock valued at $1,687,000 after purchasing an additional 143,697 shares during the last quarter. Lewis Asset Management LLC acquired a new stake in shares of Rithm Capital during the 4th quarter worth about $2,813,000. Finally, DAVENPORT & Co LLC acquired a new stake in shares of Rithm Capital during the 4th quarter worth about $119,000. 44.92% of the stock is currently owned by institutional investors and hedge funds.

Rithm Capital Trading Down 0.1 %

Shares of RITM stock opened at $10.54 on Wednesday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.30 and a current ratio of 0.30. The company has a market capitalization of $5.10 billion, a price-to-earnings ratio of 9.58 and a beta of 1.82. Rithm Capital Corp. has a 52-week low of $7.59 and a 52-week high of $11.33. The company has a 50-day simple moving average of $10.79 and a two-hundred day simple moving average of $10.39.

Rithm Capital (NYSE:RITM) last released its earnings results on Wednesday, February 7th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.16. The company had revenue of $709.47 million during the quarter, compared to analyst estimates of $887.04 million. Rithm Capital had a return on equity of 18.49% and a net margin of 17.15%. During the same period in the prior year, the company posted $0.33 earnings per share. Research analysts anticipate that Rithm Capital Corp. will post 1.69 EPS for the current fiscal year.

Rithm Capital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Monday, April 1st will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.49%. The ex-dividend date of this dividend is Thursday, March 28th. Rithm Capital’s dividend payout ratio (DPR) is currently 90.91%.

Analyst Upgrades and Downgrades

RITM has been the topic of several research reports. Royal Bank of Canada restated an “outperform” rating and issued a $12.00 price target on shares of Rithm Capital in a research note on Monday, April 1st. Jonestrading raised their target price on shares of Rithm Capital from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Thursday, February 22nd. B. Riley boosted their price target on Rithm Capital from $12.00 to $13.00 and gave the company a “buy” rating in a research note on Wednesday, February 21st. Argus raised their price objective on Rithm Capital from $11.00 to $12.00 and gave the stock a “buy” rating in a research note on Tuesday, March 5th. Finally, Keefe, Bruyette & Woods boosted their price target on Rithm Capital from $11.50 to $12.00 and gave the stock an “outperform” rating in a report on Tuesday. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average target price of $12.00.

Rithm Capital 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.