Garnet Equity Capital Holdings Inc. Has $2.67 Million Stock Position in Rithm Capital Corp. (NYSE:RITM)

Garnet Equity Capital Holdings Inc. boosted its stake in shares of Rithm Capital Corp. (NYSE:RITM) by 25.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 250,000 shares of the real estate investment trust’s stock after purchasing an additional 50,000 shares during the quarter. Rithm Capital accounts for approximately 0.8% of Garnet Equity Capital Holdings Inc.’s holdings, making the stock its 13th biggest position. Garnet Equity Capital Holdings Inc. owned 0.05% of Rithm Capital worth $2,670,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of RITM. Parkside Financial Bank & Trust increased its position in shares of Rithm Capital by 605.1% during the fourth quarter. Parkside Financial Bank & Trust now owns 2,489 shares of the real estate investment trust’s stock valued at $27,000 after purchasing an additional 2,136 shares during the period. GAMMA Investing LLC acquired a new stake in Rithm Capital during the fourth quarter worth $34,000. Castleview Partners LLC increased its holdings in Rithm Capital by 690.6% in the 3rd quarter. Castleview Partners LLC now owns 4,016 shares of the real estate investment trust’s stock valued at $37,000 after buying an additional 3,508 shares during the period. BluePath Capital Management LLC acquired a new position in shares of Rithm Capital in the 3rd quarter valued at $70,000. Finally, Harvest Fund Management Co. Ltd bought a new position in shares of Rithm Capital during the 3rd quarter worth about $94,000. 44.92% of the stock is owned by institutional investors.

Rithm Capital Price Performance

Shares of RITM stock traded up $0.08 during trading hours on Thursday, reaching $11.25. 3,067,758 shares of the company were exchanged, compared to its average volume of 3,484,555. Rithm Capital Corp. has a fifty-two week low of $7.59 and a fifty-two week high of $11.41. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.30 and a quick ratio of 0.30. The stock’s fifty day moving average is $10.92 and its two-hundred day moving average is $10.52. The company has a market cap of $5.44 billion, a price-to-earnings ratio of 7.50 and a beta of 1.80.

Rithm Capital (NYSE:RITM) last posted its quarterly earnings data on Wednesday, February 7th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.16. The firm had revenue of $709.47 million for the quarter, compared to the consensus estimate of $887.04 million. Rithm Capital had a return on equity of 19.38% and a net margin of 19.77%. During the same quarter in the prior year, the business earned $0.33 EPS. Sell-side analysts forecast that Rithm Capital Corp. will post 1.69 earnings per share for the current fiscal year.

Rithm Capital Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Monday, April 1st were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 8.89%. The ex-dividend date was Thursday, March 28th. Rithm Capital’s dividend payout ratio is 66.67%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. JMP Securities reissued a “market outperform” rating and issued a $11.00 target price on shares of Rithm Capital in a research note on Thursday, April 18th. Keefe, Bruyette & Woods raised their target price on Rithm Capital from $12.00 to $12.50 and gave the stock an “outperform” rating in a research report on Thursday. Argus upped their price target on Rithm Capital from $11.00 to $12.00 and gave the company a “buy” rating in a research report on Tuesday, March 5th. Wedbush reissued an “outperform” rating and set a $13.00 price objective on shares of Rithm Capital in a report on Monday, February 26th. Finally, Jonestrading boosted their target price on shares of Rithm Capital from $11.00 to $12.00 and gave the company a “buy” rating in a research note on Thursday, February 22nd. Nine research analysts have rated the stock with a buy rating, According to MarketBeat, Rithm Capital currently has an average rating of “Buy” and a consensus target price of $12.05.

Rithm Capital Company 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.