Rithm Capital Corp. (NYSE:RITM) Shares Sold by Alaska Permanent Fund Corp

Alaska Permanent Fund Corp trimmed its holdings in shares of Rithm Capital Corp. (NYSE:RITM) by 1.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 258,019 shares of the real estate investment trust’s stock after selling 3,681 shares during the period. Alaska Permanent Fund Corp owned approximately 0.05% of Rithm Capital worth $2,756,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Parkside Financial Bank & Trust raised its stake in shares of Rithm Capital by 605.1% during the 4th quarter. Parkside Financial Bank & Trust now owns 2,489 shares of the real estate investment trust’s stock worth $27,000 after purchasing an additional 2,136 shares in the last quarter. GAMMA Investing LLC acquired a new position in Rithm Capital during the 4th quarter worth approximately $34,000. Castleview Partners LLC raised its stake in Rithm Capital by 690.6% during the 3rd quarter. Castleview Partners LLC now owns 4,016 shares of the real estate investment trust’s stock worth $37,000 after buying an additional 3,508 shares during the period. BluePath Capital Management LLC purchased a new position in Rithm Capital in the third quarter valued at approximately $70,000. Finally, Meeder Asset Management Inc. purchased a new stake in Rithm Capital in the fourth quarter worth about $95,000. 44.92% of the stock is currently owned by institutional investors and hedge funds.

Rithm Capital Price Performance

NYSE RITM traded up $0.05 on Wednesday, reaching $11.13. 2,184,329 shares of the stock traded hands, compared to its average volume of 3,425,369. The company has a market cap of $5.39 billion, a price-to-earnings ratio of 10.11 and a beta of 1.82. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.12. The firm’s fifty day simple moving average is $10.85 and its 200 day simple moving average is $10.45. Rithm Capital Corp. has a 12 month low of $7.59 and a 12 month high of $11.33.

Rithm Capital (NYSE:RITM) last posted its earnings results on Wednesday, February 7th. The real estate investment trust reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.16. Rithm Capital had a net margin of 17.15% and a return on equity of 18.49%. The company had revenue of $709.47 million during the quarter, compared to analysts’ expectations of $887.04 million. During the same quarter in the previous year, the company posted $0.33 earnings per share. As a group, research analysts predict that Rithm Capital Corp. will post 1.69 EPS for the current fiscal year.

Rithm Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Monday, April 1st will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.98%. Rithm Capital’s dividend payout ratio (DPR) is presently 90.91%.

Wall Street Analyst Weigh In

RITM has been the topic of several recent research reports. Jonestrading lifted their price target on shares of Rithm Capital from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Thursday, February 22nd. Wedbush reaffirmed an “outperform” rating and issued a $13.00 price objective on shares of Rithm Capital in a research note on Monday, February 26th. B. Riley boosted their target price on shares of Rithm Capital from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. Argus increased their target price on shares of Rithm Capital from $11.00 to $12.00 and gave the company a “buy” rating in a report on Tuesday, March 5th. Finally, JMP Securities reissued a “market outperform” rating and issued a $11.00 price target on shares of Rithm Capital in a report on Thursday, April 18th. Nine analysts have rated the stock with a buy rating, According to MarketBeat.com, Rithm Capital currently has an average rating of “Buy” and a consensus target price of $12.00.

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.