Rithm Capital Corp. $RITM Shares Sold by Harbour Investments Inc.

Harbour Investments Inc. trimmed its position in Rithm Capital Corp. (NYSE:RITM) by 1.0% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 106,417 shares of the real estate investment trust’s stock after selling 1,049 shares during the period. Harbour Investments Inc.’s holdings in Rithm Capital were worth $1,201,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. SouthState Corp acquired a new stake in Rithm Capital in the 1st quarter worth about $25,000. Fourth Dimension Wealth LLC boosted its holdings in 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 worth $34,000 after buying an additional 1,000 shares during the last quarter. Ameritas Advisory Services LLC acquired a new stake in Rithm Capital in the 2nd quarter worth about $43,000. SVB Wealth LLC acquired a new stake in Rithm Capital in the 1st quarter worth about $57,000. Finally, GAMMA Investing LLC boosted its holdings in Rithm Capital by 19.1% in the 2nd quarter. GAMMA Investing LLC now owns 5,528 shares of the real estate investment trust’s stock worth $62,000 after buying an additional 887 shares during the last quarter. 44.92% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently weighed in on the company. BTIG Research restated a “buy” rating and set a $16.00 target price on shares of Rithm Capital in a report on Wednesday, September 17th. Royal Bank Of Canada boosted their target price on Rithm Capital from $13.00 to $14.00 and gave the stock an “outperform” rating in a report on Friday, August 1st. Keefe, Bruyette & Woods boosted their target price on Rithm Capital from $13.50 to $14.00 and gave the stock an “outperform” rating in a report on Tuesday, July 29th. Wedbush restated an “outperform” rating and set a $14.00 target price on shares of Rithm Capital in a report on Wednesday, August 6th. Finally, Jones Trading boosted their target price on Rithm Capital from $12.50 to $13.50 and gave the stock a “buy” rating in a report on Tuesday, July 29th. One investment analyst has rated the stock with a Strong Buy rating and nine have given a Buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus target price of $14.25.

Rithm Capital Trading Up 1.3%

RITM opened at $10.84 on Friday. Rithm Capital Corp. has a one year low of $9.13 and a one year high of $12.74. The stock has a market capitalization of $5.75 billion, a PE ratio of 8.34 and a beta of 1.31. The business’s 50 day moving average price is $11.89 and its 200 day moving average price is $11.49. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.40 and a current ratio of 0.40.

Rithm Capital (NYSE:RITM) last released its quarterly earnings data on Monday, July 28th. The real estate investment trust reported $0.54 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.03. Rithm Capital had a return on equity of 18.89% and a net margin of 16.72%.The firm had revenue of $1.22 billion for the quarter, compared to analysts’ expectations of $1.18 billion. As a group, equities research analysts expect that Rithm Capital Corp. will post 1.93 EPS for the current year.

Rithm Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Wednesday, October 1st will be issued a $0.25 dividend. The ex-dividend date is Wednesday, October 1st. This represents a $1.00 dividend on an annualized basis and a yield of 9.2%. Rithm Capital’s dividend payout ratio is currently 76.92%.

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.