Cascade Investment Group Inc. Has $183,000 Holdings in Rithm Capital Corp. (NYSE:RITM)

Cascade Investment Group Inc. trimmed its position in shares of Rithm Capital Corp. (NYSE:RITM) by 5.6% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,885 shares of the real estate investment trust’s stock after selling 1,000 shares during the period. Cascade Investment Group Inc.’s holdings in Rithm Capital were worth $183,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its holdings in shares of Rithm Capital by 119.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,608,008 shares of the real estate investment trust’s stock worth $52,301,000 after acquiring an additional 2,504,529 shares during the period. Azora Capital LP boosted its holdings in shares of Rithm Capital by 107.6% in the 3rd quarter. Azora Capital LP now owns 4,383,821 shares of the real estate investment trust’s stock valued at $49,756,000 after purchasing an additional 2,271,671 shares in the last quarter. Soros Fund Management LLC acquired a new stake in shares of Rithm Capital in the 3rd quarter valued at $23,835,000. Seven Grand Managers LLC bought a new position in shares of Rithm Capital in the 3rd quarter valued at $11,918,000. Finally, Maven Securities LTD acquired a new position in shares of Rithm Capital during the 3rd quarter worth $11,350,000. 44.92% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms have issued reports on RITM. Keefe, Bruyette & Woods lifted their target price on Rithm Capital from $13.00 to $13.50 and gave the company an “outperform” rating in a research report on Tuesday, December 3rd. Wedbush reaffirmed an “outperform” rating and set a $14.00 price target on shares of Rithm Capital in a report on Thursday, November 7th. B. Riley raised shares of Rithm Capital to a “strong-buy” rating in a research note on Tuesday, January 7th. Finally, Royal Bank of Canada restated an “outperform” rating and issued a $13.00 target price on shares of Rithm Capital in a research report on Thursday, November 21st. One research analyst has rated the stock with a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus price target of $12.94.

Rithm Capital Trading Up 0.7 %

Shares of NYSE RITM opened at $11.34 on Monday. The firm has a 50 day moving average price of $10.98 and a two-hundred day moving average price of $11.11. The stock has a market cap of $5.89 billion, a P/E ratio of 11.45 and a beta of 1.79. Rithm Capital Corp. has a 52-week low of $9.97 and a 52-week high of $12.02. The company has a debt-to-equity ratio of 1.63, a quick ratio of 1.35 and a current ratio of 1.35.

Rithm Capital (NYSE:RITM) last posted its quarterly earnings data on Tuesday, October 29th. The real estate investment trust reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.12. The business had revenue of $619.51 million during the quarter, compared to the consensus estimate of $1.11 billion. Rithm Capital had a return on equity of 17.54% and a net margin of 14.99%. During the same period in the prior year, the business posted $0.58 earnings per share. As a group, equities analysts forecast that Rithm Capital Corp. will post 1.95 EPS for the current year.

Rithm Capital Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Tuesday, December 31st will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Tuesday, December 31st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.82%. Rithm Capital’s dividend payout ratio (DPR) is 101.01%.

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.