Azora Capital LP Sells 201,041 Shares of Rithm Capital Corp. (NYSE:RITM)

Azora Capital LP cut its stake in Rithm Capital Corp. (NYSE:RITM - Free Report) by 4.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,182,780 shares of the real estate investment trust's stock after selling 201,041 shares during the period. Rithm Capital makes up approximately 2.0% of Azora Capital LP's holdings, making the stock its 17th biggest position. Azora Capital LP owned 0.80% of Rithm Capital worth $45,300,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of RITM. Wilmington Savings Fund Society FSB bought a new stake in shares of Rithm Capital in the third quarter valued at about $43,000. Franklin Resources Inc. lifted its position in shares of Rithm Capital by 0.8% in the 3rd quarter. Franklin Resources Inc. now owns 1,250,401 shares of the real estate investment trust's stock worth $13,467,000 after acquiring an additional 9,859 shares during the period. JPMorgan Chase & Co. lifted its position in shares of Rithm Capital by 119.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,608,008 shares of the real estate investment trust's stock worth $52,301,000 after acquiring an additional 2,504,529 shares during the period. Graypoint LLC acquired a new stake in shares of Rithm Capital during the 4th quarter worth approximately $137,000. Finally, FNY Investment Advisers LLC increased its position in shares of Rithm Capital by 8,600.0% during the fourth quarter. FNY Investment Advisers LLC now owns 8,700 shares of the real estate investment trust's stock valued at $94,000 after purchasing an additional 8,600 shares during the period. 44.92% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

RITM has been the topic of a number of recent research reports. Wedbush reiterated an "outperform" rating and set a $14.00 price target on shares of Rithm Capital in a research note on Friday, March 28th. JMP Securities reiterated a "market outperform" rating and set a $12.50 target price on shares of Rithm Capital in a research report on Thursday, January 23rd. BTIG Research reissued a "buy" rating and issued a $16.00 price target on shares of Rithm Capital in a research report on Friday, April 25th. B. Riley upgraded Rithm Capital to a "strong-buy" rating in a research note on Tuesday, January 7th. Finally, Jones Trading restated a "buy" rating and issued a $12.50 target price on shares of Rithm Capital in a research note on Tuesday, April 29th. Eight investment analysts have rated the stock with a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $13.61.

Rithm Capital Stock Up 0.9 %

Shares of NYSE RITM opened at $11.28 on Friday. Rithm Capital Corp. has a 1 year low of $9.13 and a 1 year high of $12.20. The firm's 50-day moving average is $11.06 and its 200-day moving average is $11.10. The company has a current ratio of 1.09, a quick ratio of 1.35 and a debt-to-equity ratio of 1.74. The firm has a market capitalization of $5.98 billion, a PE ratio of 6.75 and a beta of 1.36.

Rithm Capital (NYSE:RITM - Get Free Report) last posted its quarterly earnings results on Friday, April 25th. The real estate investment trust reported $0.52 earnings per share for the quarter, beating analysts' consensus estimates of $0.45 by $0.07. The company had revenue of $28.89 million for the quarter, compared to the consensus estimate of $1.27 billion. Rithm Capital had a return on equity of 18.15% and a net margin of 17.79%. During the same quarter in the prior year, the business posted $0.48 EPS. Equities analysts expect that Rithm Capital Corp. will post 1.93 EPS for the current year.

Rithm Capital Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 30th. Investors of record on Monday, March 31st were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 8.87%. The ex-dividend date was Monday, March 31st. Rithm Capital's dividend payout ratio is currently 83.33%.

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.

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