SeaCrest Wealth Management LLC Buys 6,660 Shares of Rithm Capital Corp. (NYSE:RITM)

SeaCrest Wealth Management LLC increased its stake in shares of Rithm Capital Corp. (NYSE:RITM) by 7.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 93,020 shares of the real estate investment trust’s stock after purchasing an additional 6,660 shares during the quarter. SeaCrest Wealth Management LLC’s holdings in Rithm Capital were worth $967,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of RITM. Geode Capital Management LLC acquired a new position in shares of Rithm Capital in the 4th quarter valued at $50,728,000. Nan Shan Life Insurance Co. Ltd. purchased a new stake in shares of Rithm Capital in the fourth quarter valued at about $47,845,000. Morgan Stanley purchased a new stake in Rithm Capital in the 4th quarter valued at about $38,490,000. Charles Schwab Investment Management Inc. bought a new position in shares of Rithm Capital during the 4th quarter worth approximately $36,301,000. Finally, Macquarie Group Ltd. grew its holdings in shares of Rithm Capital by 1,471.0% in the first quarter. Macquarie Group Ltd. now owns 2,108,416 shares of the real estate investment trust’s stock valued at $16,867,000 after acquiring an additional 1,974,208 shares in the last quarter. Institutional investors own 44.92% of the company’s stock.

Rithm Capital Trading Up 0.8 %

Shares of RITM traded up $0.09 during trading hours on Friday, hitting $11.16. The company had a trading volume of 2,815,681 shares, compared to its average volume of 2,861,536. The firm has a market cap of $5.39 billion, a P/E ratio of 10.14 and a beta of 1.82. The stock’s 50 day moving average price is $10.79 and its 200 day moving average price is $10.29. The company has a quick ratio of 0.30, a current ratio of 0.30 and a debt-to-equity ratio of 0.12. Rithm Capital Corp. has a 52-week low of $7.59 and a 52-week 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, topping the consensus estimate of $0.35 by $0.16. The company had revenue of $709.47 million for the quarter, compared to analysts’ expectations of $887.04 million. Rithm Capital had a return on equity of 18.49% and a net margin of 17.15%. During the same period last year, the firm earned $0.33 earnings per share. On average, research analysts predict that Rithm Capital Corp. will post 1.67 EPS for the current year.

Rithm Capital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Monday, April 1st will be paid a $0.25 dividend. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $1.00 annualized dividend and a dividend yield of 8.96%. Rithm Capital’s payout ratio is presently 90.91%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on RITM. Argus lifted their price target on Rithm Capital from $11.00 to $12.00 and gave the stock a “buy” rating in a report on Tuesday, March 5th. Wedbush restated an “outperform” rating and set a $13.00 target price on shares of Rithm Capital in a research report on Monday, February 26th. UBS Group initiated coverage on Rithm Capital in a research report on Wednesday, December 6th. They issued a “buy” rating and a $12.50 price objective on the stock. Jonestrading increased their price objective on Rithm Capital from $11.00 to $12.00 and gave the stock a “buy” rating in a research report on Thursday, February 22nd. Finally, B. Riley raised their price target on Rithm Capital from $12.00 to $13.00 and gave the company a “buy” rating in a research report on Wednesday, February 21st. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat, the company has a consensus rating of “Buy” and an average price target of $12.00.

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.