KLP Kapitalforvaltning AS Has $1.19 Million Stake in Rithm Capital Corp. (NYSE:RITM)

KLP Kapitalforvaltning AS lowered its stake in shares of Rithm Capital Corp. (NYSE:RITM) by 5.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 101,600 shares of the real estate investment trust’s stock after selling 5,500 shares during the period. KLP Kapitalforvaltning AS’s holdings in Rithm Capital were worth $1,185,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fourth Dimension Wealth LLC raised its position in shares of Rithm Capital by 50.0% in the 1st quarter. Fourth Dimension Wealth LLC now owns 3,000 shares of the real estate investment trust’s stock valued at $34,000 after acquiring an additional 1,000 shares during the period. Quarry LP increased its stake in Rithm Capital by 47.5% in the fourth quarter. Quarry LP now owns 4,118 shares of the real estate investment trust’s stock valued at $45,000 after purchasing an additional 1,327 shares in the last quarter. Quadrant Capital Group LLC raised its holdings in Rithm Capital by 35.2% in the fourth quarter. Quadrant Capital Group LLC now owns 4,655 shares of the real estate investment trust’s stock worth $50,000 after purchasing an additional 1,211 shares during the period. Quent Capital LLC boosted its position in shares of Rithm Capital by 58.6% during the first quarter. Quent Capital LLC now owns 5,465 shares of the real estate investment trust’s stock worth $63,000 after purchasing an additional 2,019 shares in the last quarter. Finally, CWM LLC grew its holdings in shares of Rithm Capital by 25.5% in the 1st quarter. CWM LLC now owns 6,046 shares of the real estate investment trust’s stock valued at $69,000 after buying an additional 1,228 shares during the period. Institutional investors own 44.92% of the company’s stock.

Rithm Capital Stock Down 0.4%

Shares of Rithm Capital stock opened at $12.19 on Monday. Rithm Capital Corp. has a 52-week low of $9.13 and a 52-week high of $12.31. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.35 and a current ratio of 0.35. The business’s 50 day simple moving average is $11.49 and its 200 day simple moving average is $11.35. The firm has a market cap of $6.46 billion, a PE ratio of 10.15 and a beta of 1.25.

Rithm Capital (NYSE:RITM) last posted its quarterly earnings data on Friday, April 25th. The real estate investment trust reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.07. The company had revenue of $28.89 million for the quarter, compared to the consensus estimate of $1.27 billion. Rithm Capital had a net margin of 15.06% and a return on equity of 18.38%. During the same period last year, the company earned $0.48 earnings per share. On average, analysts predict that Rithm Capital Corp. will post 1.93 earnings per share for the current fiscal year.

Rithm Capital Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 31st. Investors of record on Monday, June 30th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 8.21%. The ex-dividend date is Monday, June 30th. Rithm Capital’s dividend payout ratio (DPR) is currently 83.33%.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. Piper Sandler upgraded shares of Rithm Capital from a “neutral” rating to an “overweight” rating and upped their price objective for the company from $12.50 to $14.00 in a research report on Monday, April 28th. Jones Trading reaffirmed a “buy” rating and set a $12.50 price target on shares of Rithm Capital in a research report on Tuesday, April 29th. Royal Bank Of Canada reiterated an “outperform” rating and set a $13.00 price objective on shares of Rithm Capital in a report on Tuesday, May 20th. Wedbush reissued an “outperform” rating and set a $14.00 target price on shares of Rithm Capital in a research note on Monday, May 19th. Finally, BTIG Research restated a “buy” rating and set a $16.00 target price on shares of Rithm Capital in a report on Friday, April 25th. Eight research analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Buy” and a consensus target price of $13.69.

About Rithm Capital

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.