JPMorgan Chase & Co. Has $15.99 Million Stock Position in Rithm Capital Corp. $RITM

JPMorgan Chase & Co. raised its position in Rithm Capital Corp. (NYSE:RITM) by 16.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,415,844 shares of the real estate investment trust’s stock after buying an additional 201,720 shares during the period. JPMorgan Chase & Co. owned 0.27% of Rithm Capital worth $15,985,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of RITM. Kingstone Capital Partners Texas LLC acquired a new position in shares of Rithm Capital in the 2nd quarter worth approximately $96,027,000. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in shares of Rithm Capital during the second quarter worth $24,938,000. Wellington Management Group LLP increased its stake in shares of Rithm Capital by 36.3% in the first quarter. Wellington Management Group LLP now owns 4,907,737 shares of the real estate investment trust’s stock valued at $56,194,000 after buying an additional 1,307,276 shares in the last quarter. Nuveen LLC bought a new position in shares of Rithm Capital in the first quarter valued at about $14,086,000. Finally, Bank of Montreal Can lifted its position in Rithm Capital by 3,626.7% during the 2nd quarter. Bank of Montreal Can now owns 1,038,694 shares of the real estate investment trust’s stock worth $11,727,000 after buying an additional 1,010,822 shares in the last quarter. Institutional investors and hedge funds own 44.92% of the company’s stock.

Rithm Capital Stock Down 0.3%

NYSE:RITM opened at $11.33 on Friday. The company has a quick ratio of 0.45, a current ratio of 0.45 and a debt-to-equity ratio of 1.52. Rithm Capital Corp. has a 12-month low of $9.13 and a 12-month high of $12.74. The stock’s fifty day simple moving average is $11.06 and its 200-day simple moving average is $11.58. The firm has a market capitalization of $6.28 billion, a P/E ratio of 7.81 and a beta of 1.22.

Rithm Capital (NYSE:RITM) last released its earnings results on Thursday, October 30th. The real estate investment trust reported $0.54 earnings per share for the quarter, meeting the consensus estimate of $0.54. The firm had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.07 billion. Rithm Capital had a return on equity of 18.82% and a net margin of 17.08%. Equities research analysts expect that Rithm Capital Corp. will post 1.93 earnings per share for the current year.

Rithm Capital Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Wednesday, October 1st were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 8.8%. The ex-dividend date of this dividend was Wednesday, October 1st. Rithm Capital’s dividend payout ratio is presently 68.97%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Rithm Capital in a research note on Monday, December 1st. BTIG Research reiterated a “buy” rating and issued a $16.00 price objective on shares of Rithm Capital in a research report on Wednesday, September 17th. UBS Group boosted their target price on Rithm Capital from $14.00 to $16.00 and gave the stock a “buy” rating in a research report on Wednesday, September 3rd. Finally, Jones Trading reiterated a “buy” rating and issued a $13.50 price target on shares of Rithm Capital in a report on Thursday, October 30th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $14.25.

Insider Buying and Selling at Rithm Capital

In other Rithm Capital news, insider David Zeiden sold 19,285 shares of the business’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $11.11, for a total value of $214,256.35. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael Nierenberg sold 301,548 shares of the firm’s stock in a transaction dated Wednesday, November 5th. The stock was sold at an average price of $11.00, for a total value of $3,317,028.00. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.44% of the company’s stock.

Rithm Capital 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.