Van ECK Associates Corp Purchases 456,026 Shares of Rithm Capital Corp. (NYSE:RITM)

Van ECK Associates Corp increased its holdings in Rithm Capital Corp. (NYSE:RITM) by 32.7% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,848,852 shares of the real estate investment trust’s stock after buying an additional 456,026 shares during the quarter. Van ECK Associates Corp owned 0.38% of Rithm Capital worth $19,746,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. SG Americas Securities LLC lifted its position in shares of Rithm Capital by 41.8% during the 3rd quarter. SG Americas Securities LLC now owns 87,500 shares of the real estate investment trust’s stock valued at $813,000 after buying an additional 25,790 shares in the last quarter. Exchange Traded Concepts LLC purchased a new stake in shares of Rithm Capital during the 3rd quarter worth approximately $177,000. Handelsbanken Fonder AB grew its holdings in shares of Rithm Capital by 47.7% in the third quarter. Handelsbanken Fonder AB now owns 111,494 shares of the real estate investment trust’s stock valued at $1,036,000 after purchasing an additional 36,000 shares in the last quarter. Simplicity Solutions LLC increased its position in Rithm Capital by 8.0% in the third quarter. Simplicity Solutions LLC now owns 16,346 shares of the real estate investment trust’s stock worth $152,000 after purchasing an additional 1,214 shares during the last quarter. Finally, Xponance Inc. lifted its position in Rithm Capital by 19.5% during the third quarter. Xponance Inc. now owns 20,112 shares of the real estate investment trust’s stock valued at $187,000 after purchasing an additional 3,286 shares during the last quarter. 44.92% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

RITM has been the topic of several recent research reports. JMP Securities restated a “market outperform” rating and set a $11.00 target price on shares of Rithm Capital in a research report on Thursday, April 18th. B. Riley lifted their price objective on shares of Rithm Capital from $12.00 to $13.00 and gave the stock a “buy” rating in a research note on Wednesday, February 21st. Royal Bank of Canada restated an “outperform” rating and issued a $12.00 target price on shares of Rithm Capital in a report on Monday, April 1st. Jonestrading increased their price objective on shares of Rithm Capital from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Thursday, February 22nd. Finally, Keefe, Bruyette & Woods raised their price objective on shares of Rithm Capital from $11.50 to $12.00 and gave the stock an “outperform” rating in a research note on Tuesday, April 16th. Nine analysts have rated the stock with a buy rating, According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $12.00.

Rithm Capital Trading Up 0.4 %

RITM opened at $11.17 on Thursday. The company has a market capitalization of $5.40 billion, a P/E ratio of 7.44 and a beta of 1.80. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.12. Rithm Capital Corp. has a 52 week low of $7.59 and a 52 week high of $11.41. The stock’s fifty day moving average is $10.92 and its two-hundred day moving average is $10.52.

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

Rithm Capital Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Monday, April 1st were issued a dividend of $0.25 per share. The ex-dividend date was Thursday, March 28th. This represents a $1.00 dividend on an annualized basis and a yield of 8.96%. Rithm Capital’s dividend payout ratio is currently 66.67%.

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.