Rithm Capital Corp. $RITM Shares Acquired by JPMorgan Chase & Co.

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

Other institutional investors have also recently made changes to their positions in the company. Norges Bank acquired a new position in shares of Rithm Capital in the second quarter worth about $72,762,000. Qube Research & Technologies Ltd grew its position in shares of Rithm Capital by 80.7% during the 3rd quarter. Qube Research & Technologies Ltd now owns 7,890,987 shares of the real estate investment trust’s stock valued at $89,878,000 after acquiring an additional 3,524,330 shares during the period. UBS Group AG grew its position in shares of Rithm Capital by 127.9% during the 3rd quarter. UBS Group AG now owns 3,718,822 shares of the real estate investment trust’s stock valued at $42,357,000 after acquiring an additional 2,087,282 shares during the period. Balyasny Asset Management L.P. increased its stake in shares of Rithm Capital by 52.1% in the 3rd quarter. Balyasny Asset Management L.P. now owns 5,939,093 shares of the real estate investment trust’s stock valued at $67,646,000 after purchasing an additional 2,033,973 shares in the last quarter. Finally, Meteora Capital LLC acquired a new position in Rithm Capital in the 3rd quarter worth about $19,441,000. 44.92% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

RITM has been the topic of a number of recent analyst reports. Piper Sandler reiterated 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. Keefe, Bruyette & Woods reaffirmed an “outperform” rating on shares of Rithm Capital in a research note on Thursday, December 18th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Rithm Capital in a research report on Monday, December 29th. Wedbush began coverage on shares of Rithm Capital in a research note on Monday, December 15th. They issued an “outperform” rating and a $14.00 price target on the stock. Finally, Wall Street Zen raised shares of Rithm Capital from a “hold” rating to a “buy” rating in a report on Saturday, March 7th. Seven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently 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 $9.22 on Thursday. The firm has a 50-day simple moving average of $10.45 and a 200-day simple moving average of $10.98. 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 stock has a market capitalization of $5.12 billion, a price-to-earnings ratio of 8.86 and a beta of 1.21. Rithm Capital Corp. has a 52 week low of $8.43 and a 52 week high of $12.74.

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 (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.19. The company had revenue of $1.29 billion during the quarter, compared to analysts’ expectations of $1.24 billion. Rithm Capital had a net margin of 15.55% and a return on equity of 19.74%. On average, equities analysts predict that Rithm Capital Corp. will post 1.93 earnings per share for the current fiscal year.

Rithm Capital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 30th. Stockholders of record on Monday, April 6th will be given a $0.25 dividend. The ex-dividend date is Monday, April 6th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 10.9%. Rithm Capital’s dividend payout ratio is 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.