PharVision Advisers LLC Invests $127,000 in Rithm Capital Corp. (NYSE:RITM)

PharVision Advisers LLC purchased a new stake in shares of Rithm Capital Corp. (NYSE:RITM) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 11,710 shares of the real estate investment trust’s stock, valued at approximately $127,000.

A number of other institutional investors have also added to or reduced their stakes in the business. 1620 Investment Advisors Inc. lifted its holdings in shares of Rithm Capital by 2.1% during the 4th quarter. 1620 Investment Advisors Inc. now owns 46,035 shares of the real estate investment trust’s stock valued at $499,000 after purchasing an additional 960 shares during the last quarter. Summit Trail Advisors LLC raised its position in shares of Rithm Capital by 2.0% in the fourth quarter. Summit Trail Advisors LLC now owns 49,380 shares of the real estate investment trust’s stock worth $547,000 after acquiring an additional 967 shares during the period. Steward Partners Investment Advisory LLC grew its holdings in Rithm Capital by 2.9% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 35,792 shares of the real estate investment trust’s stock valued at $388,000 after purchasing an additional 1,016 shares during the period. Vident Advisory LLC grew its stake in Rithm Capital by 7.3% in the 4th quarter. Vident Advisory LLC now owns 15,509 shares of the real estate investment trust’s stock valued at $168,000 after acquiring an additional 1,051 shares during the period. Finally, US Bancorp DE grew its position in shares of Rithm Capital by 3.7% in the fourth quarter. US Bancorp DE now owns 32,458 shares of the real estate investment trust’s stock valued at $352,000 after purchasing an additional 1,155 shares during the period. Hedge funds and other institutional investors own 44.92% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Piper Sandler raised Rithm Capital from a “neutral” rating to an “overweight” rating and increased their target price for the company from $12.50 to $14.00 in a report on Monday, April 28th. BTIG Research reissued a “buy” rating and issued a $16.00 price objective on shares of Rithm Capital in a research note on Friday, April 25th. UBS Group lowered their target price on shares of Rithm Capital from $14.00 to $13.00 and set a “buy” rating on the stock in a research note on Wednesday, April 16th. Royal Bank of Canada restated an “outperform” rating and set a $13.00 target price on shares of Rithm Capital in a report on Tuesday. Finally, Wedbush reissued an “outperform” rating and set a $14.00 price target on shares of Rithm Capital in a research report on Monday, May 19th. Eight research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Rithm Capital currently has a consensus rating of “Buy” and a consensus target price of $13.56.

Rithm Capital Stock Performance

Shares of RITM stock opened at $11.13 on Friday. 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 $5.90 billion, a PE ratio of 6.67 and a beta of 1.32. Rithm Capital Corp. has a 1 year low of $9.13 and a 1 year high of $12.20. The stock has a fifty day moving average price of $10.96 and a 200 day moving average price of $11.17.

Rithm Capital (NYSE:RITM) last released its quarterly earnings results on Friday, April 25th. The real estate investment trust reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.07. The company had revenue of $28.89 million during the quarter, compared to the consensus estimate of $1.27 billion. Rithm Capital had a return on equity of 18.15% and a net margin of 17.79%. During the same quarter last year, the business posted $0.48 earnings per share. Sell-side analysts forecast 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 was paid on Wednesday, April 30th. Shareholders of record on Monday, March 31st were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 8.98%. The ex-dividend date was Monday, March 31st. Rithm Capital’s dividend payout ratio (DPR) is 83.33%.

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.