Thrivent Financial for Lutherans Sells 56,873 Shares of Rithm Capital Corp. $RITM

Thrivent Financial for Lutherans lowered its stake in Rithm Capital Corp. (NYSE:RITM) by 30.2% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 131,760 shares of the real estate investment trust’s stock after selling 56,873 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Rithm Capital were worth $1,468,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in RITM. Westbourne Investment Advisors Inc. purchased a new stake in shares of Rithm Capital in the second quarter worth $593,000. JPMorgan Chase & Co. boosted its holdings in Rithm Capital by 16.6% in the 2nd quarter. JPMorgan Chase & Co. now owns 1,415,844 shares of the real estate investment trust’s stock worth $15,985,000 after buying an additional 201,720 shares during the period. Y Intercept Hong Kong Ltd increased its stake in Rithm Capital by 459.2% in the 3rd quarter. Y Intercept Hong Kong Ltd now owns 239,007 shares of the real estate investment trust’s stock worth $2,722,000 after buying an additional 196,265 shares in the last quarter. Synergy Asset Management LLC purchased a new stake in Rithm Capital in the 3rd quarter worth $2,821,000. Finally, First Trust Advisors LP raised its holdings in Rithm Capital by 9.3% during the second quarter. First Trust Advisors LP now owns 3,917,189 shares of the real estate investment trust’s stock valued at $44,225,000 after acquiring an additional 333,174 shares during the period. 44.92% of the stock is currently owned by institutional investors.

Rithm Capital Stock Performance

NYSE:RITM opened at $10.58 on Friday. The company has a market cap of $5.86 billion, a price-to-earnings ratio of 10.17 and a beta of 1.20. Rithm Capital Corp. has a 1 year low of $9.13 and a 1 year high of $12.74. The stock’s 50 day simple moving average is $11.21 and its two-hundred day simple moving average is $11.48. The company has a debt-to-equity ratio of 1.52, a current ratio of 0.45 and a quick ratio of 0.45.

Rithm Capital (NYSE:RITM) last posted its earnings results on Tuesday, February 3rd. The real estate investment trust reported $0.74 EPS for the quarter, beating analysts’ consensus estimates of $0.55 by $0.19. Rithm Capital had a return on equity of 20.19% and a net margin of 15.55%.The firm had revenue of $1.29 billion during the quarter, compared to the consensus estimate of $1.24 billion. As a group, equities analysts anticipate 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 was paid on Friday, January 30th. Stockholders of record on Wednesday, December 31st were issued a $0.25 dividend. The ex-dividend date was Wednesday, December 31st. This represents a $1.00 dividend on an annualized basis and a dividend yield of 9.5%. Rithm Capital’s payout ratio is 96.15%.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on RITM shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Rithm Capital in a research note on Monday, December 29th. Keefe, Bruyette & Woods restated an “outperform” rating on shares of Rithm Capital in a research note on Thursday, December 18th. Piper Sandler reaffirmed an “overweight” rating and set a $15.00 price objective (down from $15.50) on shares of Rithm Capital in a report on Wednesday, February 4th. Jones Trading reissued a “buy” rating and issued a $13.50 target price on shares of Rithm Capital in a report on Thursday, October 30th. Finally, Wedbush initiated coverage on shares of Rithm Capital in a research note on Monday, December 15th. They set an “outperform” rating and a $14.00 target price for the company. Seven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, Rithm Capital has an average rating of “Moderate Buy” and an average target price of $14.50.

Rithm Capital Profile

Rithm Capital Corporation is a specialty finance company that originates, acquires and manages structured credit investments collateralized by real estate assets in the United States. The company focuses primarily on senior floating-rate loans secured by multifamily, commercial, industrial and single-family rental properties, aiming to deliver attractive risk-adjusted yields through a diversified portfolio of floating-rate real estate debt.

In addition to senior loans, Rithm Capital invests in residential mortgage-backed securities, including agency and non-agency pools, as well as other real estate-related credit instruments.