Atria Wealth Solutions Inc. Sells 27,469 Shares of Rithm Capital Corp. $RITM

Key Points

• Atria Wealth Solutions Inc. has reduced its stake in Rithm Capital Corp. by 48.4%, selling 27,469 shares and ending up with 29,252 shares valued at $340,000.
• Other institutional investors have increased their stakes in Rithm Capital, with Oppenheimer & Co. Inc. leading with a 1,146.1% increase, bringing their holdings to 356,485 shares.
• Rithm Capital reported earnings of $0.54 per share, exceeding expectations, and has declared a quarterly dividend of $0.25 per share, representing a 9.2% yield.

Atria Wealth Solutions Inc. reduced its stake in shares of Rithm Capital Corp. (NYSE:RITM - Free Report) by 48.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,252 shares of the real estate investment trust's stock after selling 27,469 shares during the period. Atria Wealth Solutions Inc.'s holdings in Rithm Capital were worth $340,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC increased its stake in shares of Rithm Capital by 5.6% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 178,507 shares of the real estate investment trust's stock worth $2,044,000 after purchasing an additional 9,508 shares during the period. Janney Montgomery Scott LLC increased its stake in shares of Rithm Capital by 1.4% in the first quarter. Janney Montgomery Scott LLC now owns 98,329 shares of the real estate investment trust's stock worth $1,126,000 after purchasing an additional 1,380 shares during the period. Cambridge Investment Research Advisors Inc. increased its stake in shares of Rithm Capital by 1.1% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 257,992 shares of the real estate investment trust's stock worth $2,954,000 after purchasing an additional 2,892 shares during the period. Flagship Harbor Advisors LLC increased its stake in shares of Rithm Capital by 4.7% in the first quarter. Flagship Harbor Advisors LLC now owns 36,808 shares of the real estate investment trust's stock worth $421,000 after purchasing an additional 1,636 shares during the period. Finally, Oppenheimer & Co. Inc. increased its stake in shares of Rithm Capital by 1,146.1% in the first quarter. Oppenheimer & Co. Inc. now owns 356,485 shares of the real estate investment trust's stock worth $4,082,000 after purchasing an additional 327,878 shares during the period. 44.92% of the stock is currently owned by institutional investors.

Rithm Capital Stock Up 0.9%

RITM stock opened at $10.93 on Tuesday. Rithm Capital Corp. has a twelve month low of $9.13 and a twelve month high of $12.74. The company has a market cap of $5.79 billion, a PE ratio of 8.40 and a beta of 1.31. The business's 50-day simple moving average is $11.86 and its 200 day simple moving average is $11.49. 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 (NYSE:RITM - Get Free Report) last released its earnings results on Monday, July 28th. The real estate investment trust reported $0.54 earnings per share for the quarter, topping 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 business had revenue of $1.22 billion for the quarter, compared to the consensus estimate of $1.18 billion. On average, research analysts anticipate that Rithm Capital Corp. will post 1.93 earnings per share for the current year.

Rithm Capital Dividend Announcement

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

Analyst Ratings Changes

A number of equities analysts have recently commented on RITM shares. Weiss Ratings reiterated a "buy (b)" rating on shares of Rithm Capital in a research note on Wednesday, October 8th. Keefe, Bruyette & Woods lifted their price objective on Rithm Capital from $13.50 to $14.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 29th. Royal Bank Of Canada lifted their price objective on Rithm Capital from $13.00 to $14.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. Jones Trading lifted their price objective on Rithm Capital from $12.50 to $13.50 and gave the stock a "buy" rating in a research note on Tuesday, July 29th. Finally, Wedbush reissued an "outperform" rating and set a $14.00 target price on shares of Rithm Capital in a research report on Wednesday, August 6th. One research analyst has rated the stock with a Strong Buy rating and nine have given a Buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Buy" and a consensus target price of $14.25.

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.

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