JPMorgan Chase & Co. Boosts Position in Rithm Capital Corp. $RITM

JPMorgan Chase & Co. boosted its stake in shares of Rithm Capital Corp. (NYSE:RITM) by 8.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,536,981 shares of the real estate investment trust’s stock after buying an additional 121,137 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.28% of Rithm Capital worth $17,506,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Bessemer Group Inc. increased its holdings in Rithm Capital by 658.9% during the 3rd quarter. Bessemer Group Inc. now owns 2,656 shares of the real estate investment trust’s stock worth $30,000 after purchasing an additional 2,306 shares during the period. Atlantic Union Bankshares Corp purchased a new position in shares of Rithm Capital during the third quarter valued at $31,000. Mather Group LLC. purchased a new stake in Rithm Capital in the third quarter worth about $33,000. Optimum Investment Advisors grew its holdings in Rithm Capital by 200.0% during the 3rd quarter. Optimum Investment Advisors now owns 3,000 shares of the real estate investment trust’s stock worth $34,000 after acquiring an additional 2,000 shares in the last quarter. Finally, Advisory Services Network LLC purchased a new position in Rithm Capital during the 3rd quarter valued at about $43,000. Hedge funds and other institutional investors own 44.92% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Wedbush initiated coverage on shares of Rithm Capital in a report on Monday, December 15th. They issued an “outperform” rating and a $14.00 price target for the company. Piper Sandler reissued an “overweight” rating and issued a $15.00 price objective (down from $15.50) on shares of Rithm Capital in a research note on Wednesday, February 4th. UBS Group set a $15.00 target price on Rithm Capital in a report on Friday, February 6th. Wall Street Zen upgraded Rithm Capital from a “hold” rating to a “buy” rating in a report on Saturday, March 7th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Rithm Capital in a research report on Monday, December 29th. Seven research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Rithm Capital currently has an average rating of “Moderate Buy” and an average price target of $14.50.

Rithm Capital Stock Performance

Shares of Rithm Capital stock opened at $9.22 on Thursday. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 2.20. Rithm Capital Corp. has a 52 week low of $8.43 and a 52 week high of $12.74. The firm has a market capitalization of $5.12 billion, a P/E ratio of 8.86 and a beta of 1.21. The company has a 50 day moving average price of $10.45 and a 200 day moving average price of $10.98.

Rithm Capital (NYSE:RITM) last announced its quarterly earnings data on Tuesday, February 3rd. The real estate investment trust reported $0.74 earnings per share for the quarter, beating analysts’ consensus estimates of $0.55 by $0.19. The firm had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.24 billion. Rithm Capital had a net margin of 15.55% and a return on equity of 19.74%. Sell-side analysts expect that Rithm Capital Corp. will post 1.93 EPS for the current year.

Rithm Capital Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Monday, April 6th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 10.9%. The ex-dividend date is Monday, April 6th. Rithm Capital’s dividend payout ratio (DPR) is presently 96.15%.

About Rithm Capital

Rithm Capital Corporation is a specialty finance company that originates, acquires and manages structured credit investments collateralized by real estate assets in the United States. The company focuses primarily on senior floating-rate loans secured by multifamily, commercial, industrial and single-family rental properties, aiming to deliver attractive risk-adjusted yields through a diversified portfolio of floating-rate real estate debt.

In addition to senior loans, Rithm Capital invests in residential mortgage-backed securities, including agency and non-agency pools, as well as other real estate-related credit instruments.