Atria Wealth Solutions Inc. Sells 29,302 Shares of Rithm Capital Corp. (NYSE:RITM)

Atria Wealth Solutions Inc. trimmed its holdings in Rithm Capital Corp. (NYSE:RITM - Free Report) by 34.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 56,721 shares of the real estate investment trust's stock after selling 29,302 shares during the quarter. Atria Wealth Solutions Inc.'s holdings in Rithm Capital were worth $655,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Fourth Dimension Wealth LLC grew its holdings in Rithm Capital by 50.0% in the 1st quarter. Fourth Dimension Wealth LLC now owns 3,000 shares of the real estate investment trust's stock worth $34,000 after buying an additional 1,000 shares in the last quarter. Quarry LP boosted its stake in Rithm Capital by 47.5% during the 4th quarter. Quarry LP now owns 4,118 shares of the real estate investment trust's stock valued at $45,000 after purchasing an additional 1,327 shares in the last quarter. Quent Capital LLC boosted its stake in Rithm Capital by 58.6% during the 1st quarter. Quent Capital LLC now owns 5,465 shares of the real estate investment trust's stock valued at $63,000 after purchasing an additional 2,019 shares in the last quarter. CWM LLC boosted its stake in Rithm Capital by 25.5% during the 1st quarter. CWM LLC now owns 6,046 shares of the real estate investment trust's stock valued at $69,000 after purchasing an additional 1,228 shares in the last quarter. Finally, Rossby Financial LCC bought a new position in Rithm Capital during the 1st quarter valued at $79,000. 44.92% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

RITM has been the subject of a number of research reports. BTIG Research reaffirmed a "buy" rating and set a $16.00 price target on shares of Rithm Capital in a research note on Friday, April 25th. Wedbush reaffirmed an "outperform" rating and set a $14.00 price target on shares of Rithm Capital in a research note on Wednesday, August 6th. UBS Group reaffirmed a "buy" rating and set a $14.00 price target (up from $13.00) on shares of Rithm Capital in a research note on Tuesday, July 15th. Piper Sandler raised Rithm Capital from a "neutral" rating to an "overweight" rating and increased their price target for the company from $12.50 to $14.00 in a research note on Monday, April 28th. Finally, Keefe, Bruyette & Woods increased their price objective on Rithm Capital from $13.50 to $14.00 and gave the company an "outperform" rating in a research report on Tuesday, July 29th. Eight investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $14.00.

Rithm Capital Stock Down 0.6%

Rithm Capital stock traded down $0.08 during mid-day trading on Friday, hitting $12.29. 4,390,778 shares of the company's stock were exchanged, compared to its average volume of 5,228,441. Rithm Capital Corp. has a 1-year low of $9.13 and a 1-year high of $12.59. The stock has a market cap of $6.52 billion, a P/E ratio of 9.45 and a beta of 1.25. The stock has a 50 day moving average of $11.78 and a two-hundred day moving average of $11.46. The company has a current ratio of 0.40, a quick ratio of 0.40 and a debt-to-equity ratio of 1.63.

Rithm Capital (NYSE:RITM - Get Free Report) last announced its quarterly earnings data on Monday, July 28th. The real estate investment trust reported $0.54 EPS for the quarter, topping analysts' consensus estimates of $0.51 by $0.03. The company had revenue of $1.22 billion during the quarter, compared to the consensus estimate of $1.18 billion. Rithm Capital had a return on equity of 18.89% and a net margin of 16.72%. As a group, analysts anticipate that Rithm Capital Corp. will post 1.93 EPS for the current fiscal year.

Rithm Capital Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, July 31st. Investors of record on Monday, June 30th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.1%. The ex-dividend date was Monday, June 30th. Rithm Capital's dividend payout ratio is presently 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.