Rithm Capital Corp. (NYSE:RITM) Institutional Investors Increase Stake

Empowered Funds LLC Makes Significant Investment in Rithm Capital Corp. (NYSE:RITM)

In a recent disclosure with the Securities & Exchange Commission, Empowered Funds LLC revealed that they have purchased a new position in shares of Rithm Capital Corp. (NYSE:RITM). The firm acquired 12,207 shares of the real estate investment trust’s stock, valued at approximately $136,000. This move indicates a strong vote of confidence in Rithm Capital’s potential for growth and success in the market.

Other institutional investors have also shown interest in Rithm Capital, with Norges Bank purchasing a new position in the company during the 4th quarter. Additionally, Charles Schwab Investment Management Inc., Wellington Management Group LLP, Van ECK Associates Corp, and Allianz Asset Management GmbH have all increased their holdings in Rithm Capital, further solidifying the company’s position in the market.

Rithm Capital’s stock performance has been strong, with the company’s shares opening at $11.62 on Monday. The stock has a fifty-two week low of $8.87 and a high of $11.79, with a market cap of $5.62 billion. The company also recently announced a quarterly dividend, which will be paid to investors on Friday, July 26th.

Wall Street analysts have weighed in on Rithm Capital, with several firms issuing positive ratings and target price increases for the stock. Piper Sandler, Wedbush, Keefe, Bruyette & Woods, JMP Securities, and B. Riley have all given Rithm Capital favorable ratings, with an average target price of $12.45.

Rithm Capital Corp. operates as an asset manager focused on real estate, credit, and financial services. The company’s investment portfolio includes mortgage servicing rights, real estate securities, consumer and business purpose loans, and asset management related investments.

Overall, Rithm Capital’s recent investments, strong stock performance, and positive analyst ratings indicate a promising future for the company in the real estate investment market. Investors and analysts alike are keeping a close eye on Rithm Capital as it continues to grow and expand its presence in the industry.