Cetera Trust Company N.A Makes New $273,000 Investment in Rithm Capital Corp. (NYSE:RITM)

Cetera Trust Company N.A bought a new position in shares of Rithm Capital Corp. (NYSE:RITM) during the 4th quarter, according to its most recent disclosure with the SEC. The fund bought 25,600 shares of the real estate investment trust’s stock, valued at approximately $273,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Geode Capital Management LLC acquired a new position in shares of Rithm Capital in the 4th quarter valued at about $50,728,000. Nan Shan Life Insurance Co. Ltd. acquired a new position in shares of Rithm Capital in the 4th quarter valued at about $47,845,000. Morgan Stanley acquired a new position in shares of Rithm Capital in the 4th quarter valued at about $38,490,000. Charles Schwab Investment Management Inc. acquired a new position in shares of Rithm Capital in the 4th quarter valued at about $36,301,000. Finally, Macquarie Group Ltd. lifted its stake in shares of Rithm Capital by 1,471.0% in the 1st quarter. Macquarie Group Ltd. now owns 2,108,416 shares of the real estate investment trust’s stock valued at $16,867,000 after purchasing an additional 1,974,208 shares during the period. 44.92% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

RITM has been the subject of a number of research analyst reports. 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. B. Riley boosted their target price on Rithm Capital from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. Wedbush reaffirmed an “outperform” rating and issued a $13.00 target price on shares of Rithm Capital in a research report on Monday, February 26th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $12.00 target price on shares of Rithm Capital in a research report on Monday, April 1st. Finally, Argus 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 Tuesday, March 5th. Nine analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $12.00.

Rithm Capital Stock Performance

Shares of RITM opened at $10.89 on Monday. 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 stock has a 50 day moving average price of $10.82 and a two-hundred day moving average price of $10.43. The firm has a market capitalization of $5.27 billion, a P/E ratio of 9.84 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.

Rithm Capital (NYSE:RITM) last issued its quarterly earnings data 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. The firm 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 previous year, the company posted $0.33 EPS. Equities analysts forecast that Rithm Capital Corp. will post 1.69 earnings per share for the current fiscal year.

Rithm Capital Dividend Announcement

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 issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 9.18%. The ex-dividend date is Thursday, March 28th. Rithm Capital’s dividend payout ratio is currently 90.91%.

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.