Rithm Capital Corp. $RITM Shares Sold by Trust Investment Advisors

Trust Investment Advisors lowered its holdings in shares of Rithm Capital Corp. (NYSE:RITM) by 2.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 91,526 shares of the real estate investment trust’s stock after selling 2,542 shares during the period. Trust Investment Advisors’ holdings in Rithm Capital were worth $1,033,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. SouthState Corp acquired a new stake in Rithm Capital in the first quarter worth about $25,000. Cullen Frost Bankers Inc. bought a new stake in shares of Rithm Capital during the 2nd quarter worth about $30,000. Ameritas Advisory Services LLC acquired a new stake in shares of Rithm Capital in the 2nd quarter worth approximately $43,000. SVB Wealth LLC bought a new position in shares of Rithm Capital in the first quarter valued at approximately $57,000. Finally, GAMMA Investing LLC increased its stake in shares of Rithm Capital by 19.1% during the second quarter. GAMMA Investing LLC now owns 5,528 shares of the real estate investment trust’s stock valued at $62,000 after acquiring an additional 887 shares during the period. Institutional investors own 44.92% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. BTIG Research reiterated a “buy” rating and set a $16.00 price target on shares of Rithm Capital in a research report on Wednesday, September 17th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Rithm Capital in a report on Wednesday, October 8th. Royal Bank Of Canada boosted their price target on shares of Rithm Capital from $13.00 to $14.00 and gave the stock an “outperform” rating in a research report on Friday, August 1st. Wedbush restated an “outperform” rating and set a $14.00 price objective on shares of Rithm Capital in a research report on Wednesday, August 6th. Finally, Jones Trading boosted their target price on shares of Rithm Capital from $12.50 to $13.50 and gave the stock a “buy” rating in a report on Tuesday, July 29th. One research analyst has rated the stock with a Strong Buy rating and nine have assigned a Buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $14.25.

Rithm Capital Trading Up 0.7%

NYSE:RITM opened at $10.94 on Tuesday. The company has a quick ratio of 0.40, a current ratio of 0.40 and a debt-to-equity ratio of 1.63. Rithm Capital Corp. has a 1-year low of $9.13 and a 1-year high of $12.74. The firm has a market capitalization of $5.80 billion, a price-to-earnings ratio of 8.41 and a beta of 1.31. The stock has a fifty day simple moving average of $11.72 and a 200 day simple moving average of $11.52.

Rithm Capital (NYSE:RITM) last released its earnings results on Monday, July 28th. The real estate investment trust reported $0.54 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.03. Rithm Capital had a net margin of 16.72% and a return on equity of 18.89%. The business had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.18 billion. Sell-side analysts forecast that Rithm Capital Corp. will post 1.93 earnings per share for the current year.

Rithm Capital Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 31st. Stockholders of record on Wednesday, October 1st will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 9.1%. The ex-dividend date of this dividend is Wednesday, October 1st. Rithm Capital’s dividend payout ratio (DPR) is 76.92%.

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.