Cibc World Markets Corp Increases Stake in Rithm Capital Corp. (NYSE:RITM)

Cibc World Markets Corp lifted its holdings in shares of Rithm Capital Corp. (NYSE:RITM) by 4.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 151,197 shares of the real estate investment trust’s stock after purchasing an additional 6,773 shares during the period. Cibc World Markets Corp’s holdings in Rithm Capital were worth $1,637,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Truvestments Capital LLC purchased a new position in shares of Rithm Capital in the third quarter worth about $43,000. Wilmington Savings Fund Society FSB purchased a new position in Rithm Capital in the 3rd quarter worth approximately $43,000. Householder Group Estate & Retirement Specialist LLC lifted its position in Rithm Capital by 86.7% in the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 4,439 shares of the real estate investment trust’s stock valued at $48,000 after purchasing an additional 2,062 shares during the last quarter. FNY Investment Advisers LLC boosted its stake in shares of Rithm Capital by 8,600.0% during the fourth quarter. FNY Investment Advisers LLC now owns 8,700 shares of the real estate investment trust’s stock valued at $94,000 after purchasing an additional 8,600 shares during the period. Finally, Periscope Capital Inc. purchased a new position in shares of Rithm Capital in the third quarter worth $114,000. Hedge funds and other institutional investors own 44.92% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. JMP Securities reissued a “market outperform” rating and set a $12.50 price target on shares of Rithm Capital in a research report on Thursday, January 23rd. Piper Sandler raised their target price on Rithm Capital from $11.50 to $12.50 and gave the stock a “neutral” rating in a research note on Friday, February 7th. B. Riley upgraded Rithm Capital to a “strong-buy” rating in a report on Tuesday, January 7th. Finally, Keefe, Bruyette & Woods boosted their target price on Rithm Capital from $13.00 to $13.50 and gave the company an “outperform” rating in a research note on Tuesday, December 3rd. One investment analyst has rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average price target of $13.25.

Rithm Capital Stock Performance

Rithm Capital stock opened at $11.59 on Friday. Rithm Capital Corp. has a fifty-two week low of $10.38 and a fifty-two week high of $12.20. The stock’s 50 day simple moving average is $11.64 and its two-hundred day simple moving average is $11.23. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.35 and a current ratio of 1.09. The stock has a market cap of $6.03 billion, a price-to-earnings ratio of 6.94 and a beta of 1.83.

Rithm Capital (NYSE:RITM) last released its quarterly earnings results on Thursday, February 6th. The real estate investment trust reported $0.60 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.16. Rithm Capital had a return on equity of 18.15% and a net margin of 17.79%. As a group, analysts expect that Rithm Capital Corp. will post 1.93 earnings per share for the current fiscal year.

Rithm Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 8.63%. Rithm Capital’s dividend payout ratio (DPR) is currently 59.88%.

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.