Alliancebernstein L.P. Sells 74,905 Shares of Rithm Capital Corp. (NYSE:RITM)

Alliancebernstein L.P. lessened its stake in Rithm Capital Corp. (NYSE:RITM - Free Report) by 20.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 295,755 shares of the real estate investment trust's stock after selling 74,905 shares during the quarter. Alliancebernstein L.P. owned about 0.06% of Rithm Capital worth $3,203,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of RITM. Verition Fund Management LLC bought a new position in Rithm Capital in the 3rd quarter worth approximately $203,000. Quantinno Capital Management LP grew its holdings in shares of Rithm Capital by 74.1% in the 3rd quarter. Quantinno Capital Management LP now owns 17,470 shares of the real estate investment trust's stock valued at $198,000 after buying an additional 7,434 shares during the period. MML Investors Services LLC increased its holdings in shares of Rithm Capital by 9.8% in the third quarter. MML Investors Services LLC now owns 95,352 shares of the real estate investment trust's stock worth $1,082,000 after acquiring an additional 8,547 shares in the last quarter. Geode Capital Management LLC increased its stake in Rithm Capital by 7.8% during the 3rd quarter. Geode Capital Management LLC now owns 8,415,057 shares of the real estate investment trust's stock worth $95,537,000 after purchasing an additional 610,698 shares in the last quarter. Finally, Sanctuary Advisors LLC increased its position in shares of Rithm Capital by 19.3% during the third quarter. Sanctuary Advisors LLC now owns 18,433 shares of the real estate investment trust's stock worth $202,000 after acquiring an additional 2,988 shares in the last quarter. 44.92% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on RITM shares. Piper Sandler lifted their target price on Rithm Capital from $11.50 to $12.50 and gave the company a "neutral" rating in a research report on Friday, February 7th. JMP Securities reiterated a "market outperform" rating and issued a $12.50 target price on shares of Rithm Capital in a research note on Thursday, January 23rd. Wedbush reiterated an "outperform" rating and issued a $14.00 price objective on shares of Rithm Capital in a report on Friday, March 28th. B. Riley raised shares of Rithm Capital to a "strong-buy" rating in a report on Tuesday, January 7th. Finally, UBS Group cut their price objective on shares of Rithm Capital from $14.00 to $13.00 and set a "buy" rating for the company in a research report on Wednesday. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Rithm Capital has a consensus rating of "Buy" and a consensus price target of $13.21.

Rithm Capital Stock Performance

Shares of RITM stock traded up $0.11 on Friday, hitting $10.13. The company's stock had a trading volume of 4,871,959 shares, compared to its average volume of 3,851,335. Rithm Capital Corp. has a fifty-two week low of $9.13 and a fifty-two week high of $12.20. The company has a debt-to-equity ratio of 1.74, a quick ratio of 1.35 and a current ratio of 1.09. The stock's 50 day moving average is $11.31 and its 200-day moving average is $11.10. The company has a market capitalization of $5.37 billion, a PE ratio of 6.06 and a beta of 1.36.

Rithm Capital (NYSE:RITM - Get Free Report) last announced its earnings results on Thursday, February 6th. The real estate investment trust reported $0.60 EPS for the quarter, topping the consensus estimate of $0.44 by $0.16. Rithm Capital had a net margin of 17.79% and a return on equity of 18.15%. Equities research analysts expect that Rithm Capital Corp. will post 1.93 earnings per share for the current fiscal year.

Rithm Capital Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 30th. Investors of record on Monday, March 31st will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 9.87%. The ex-dividend date is Monday, March 31st. Rithm Capital's dividend payout ratio (DPR) is presently 59.88%.

Rithm Capital Company 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.