Sei Investments Co. Purchases 77,768 Shares of Rithm Capital Corp. (NYSE:RITM)

Sei Investments Co. raised its position in shares of Rithm Capital Corp. (NYSE:RITM) by 12.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 682,516 shares of the real estate investment trust’s stock after buying an additional 77,768 shares during the quarter. Sei Investments Co. owned about 0.13% of Rithm Capital worth $7,392,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the business. SeaCrest Wealth Management LLC boosted its stake in Rithm Capital by 1.0% during the fourth quarter. SeaCrest Wealth Management LLC now owns 94,566 shares of the real estate investment trust’s stock worth $1,024,000 after acquiring an additional 951 shares in the last quarter. 1620 Investment Advisors Inc. grew its position in Rithm Capital by 2.1% during the 4th quarter. 1620 Investment Advisors Inc. now owns 46,035 shares of the real estate investment trust’s stock valued at $499,000 after purchasing an additional 960 shares during the last quarter. Summit Trail Advisors LLC increased its stake in Rithm Capital by 2.0% during the 4th quarter. Summit Trail Advisors LLC now owns 49,380 shares of the real estate investment trust’s stock valued at $547,000 after purchasing an additional 967 shares in the last quarter. Steward Partners Investment Advisory LLC raised its holdings in Rithm Capital by 2.9% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 35,792 shares of the real estate investment trust’s stock worth $388,000 after buying an additional 1,016 shares during the last quarter. Finally, US Bancorp DE lifted its stake in shares of Rithm Capital by 3.7% in the fourth quarter. US Bancorp DE now owns 32,458 shares of the real estate investment trust’s stock worth $352,000 after buying an additional 1,155 shares in the last quarter. Institutional investors own 44.92% of the company’s stock.

Rithm Capital Stock Performance

RITM opened at $11.46 on Tuesday. The company has a 50 day simple moving average of $11.69 and a two-hundred day simple moving average of $11.23. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.09 and a quick ratio of 1.35. The firm has a market cap of $5.96 billion, a P/E ratio of 6.86 and a beta of 1.83. Rithm Capital Corp. has a 1-year low of $10.38 and a 1-year high of $12.20.

Rithm Capital (NYSE:RITM) last issued its earnings results on Thursday, February 6th. The real estate investment trust reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.44 by $0.16. Rithm Capital had a net margin of 17.79% and a return on equity of 18.15%. Equities analysts forecast that Rithm Capital Corp. will post 1.93 earnings per share for the current fiscal year.

Rithm Capital Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be issued a $0.25 dividend. The ex-dividend date of this dividend is Monday, March 31st. This represents a $1.00 dividend on an annualized basis and a yield of 8.73%. Rithm Capital’s dividend payout ratio is presently 59.88%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on RITM shares. Wedbush reiterated an “outperform” rating and issued a $14.00 price objective on shares of Rithm Capital in a report on Friday. B. Riley raised shares of Rithm Capital to a “strong-buy” rating in a report on Tuesday, January 7th. JMP Securities restated a “market outperform” rating and issued a $12.50 target price on shares of Rithm Capital in a report on Thursday, January 23rd. Piper Sandler boosted their target price on shares of Rithm Capital from $11.50 to $12.50 and gave the company a “neutral” rating in a research note on Friday, February 7th. Finally, Keefe, Bruyette & Woods raised their price target on Rithm Capital from $13.00 to $13.50 and gave the stock an “outperform” rating in a research note on Tuesday, December 3rd. One investment analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Buy” and an average price target of $13.25.

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.