JPMorgan Chase & Co. Has $17.51 Million Stake in Rithm Capital Corp. $RITM

JPMorgan Chase & Co. boosted its stake in Rithm Capital Corp. (NYSE:RITM) by 8.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,536,981 shares of the real estate investment trust’s stock after acquiring an additional 121,137 shares during the quarter. JPMorgan Chase & Co. owned 0.28% of Rithm Capital worth $17,506,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in RITM. AQR Capital Management LLC lifted its holdings in shares of Rithm Capital by 20.4% in the first quarter. AQR Capital Management LLC now owns 77,625 shares of the real estate investment trust’s stock valued at $889,000 after purchasing an additional 13,166 shares in the last quarter. NewEdge Advisors LLC lifted its stake in Rithm Capital by 5.3% in the 1st quarter. NewEdge Advisors LLC now owns 31,311 shares of the real estate investment trust’s stock valued at $359,000 after acquiring an additional 1,585 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in Rithm Capital by 75.6% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,539,483 shares of the real estate investment trust’s stock worth $17,627,000 after acquiring an additional 662,585 shares during the last quarter. Geneos Wealth Management Inc. grew its stake in shares of Rithm Capital by 14.3% during the 1st quarter. Geneos Wealth Management Inc. now owns 7,031 shares of the real estate investment trust’s stock worth $81,000 after acquiring an additional 881 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in shares of Rithm Capital by 15.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 125,012 shares of the real estate investment trust’s stock worth $1,411,000 after acquiring an additional 16,779 shares in the last quarter. Institutional investors own 44.92% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on RITM shares. Keefe, Bruyette & Woods reissued an “outperform” rating on shares of Rithm Capital in a research report on Thursday, December 18th. Wedbush initiated coverage on shares of Rithm Capital in a research report on Monday, December 15th. They set an “outperform” rating and a $14.00 price target on the stock. UBS Group set a $15.00 price objective on Rithm Capital in a report on Friday, February 6th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Rithm Capital in a research report on Monday, December 29th. Finally, Piper Sandler reissued an “overweight” rating and set a $15.00 price target (down from $15.50) on shares of Rithm Capital in a research report on Wednesday, February 4th. Seven equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $14.50.

Rithm Capital Price Performance

Shares of NYSE RITM opened at $9.97 on Wednesday. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 2.20. The business’s 50 day moving average price is $11.00 and its two-hundred day moving average price is $11.30. The company has a market cap of $5.54 billion, a PE ratio of 9.59 and a beta of 1.21. Rithm Capital Corp. has a twelve month low of $9.13 and a twelve month high of $12.74.

Rithm Capital (NYSE:RITM) last issued its earnings results on Tuesday, February 3rd. The real estate investment trust reported $0.74 EPS for the quarter, topping the consensus estimate of $0.55 by $0.19. The company had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.24 billion. Rithm Capital had a return on equity of 19.74% and a net margin of 15.55%. On average, analysts predict that Rithm Capital Corp. will post 1.93 EPS for the current year.

Rithm Capital Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 30th. Shareholders of record on Wednesday, December 31st were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 10.0%. The ex-dividend date was Wednesday, December 31st. Rithm Capital’s payout ratio is currently 96.15%.

Rithm Capital Company Profile

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.