Bayview Asset Management LLC Sells 62,500 Shares of Rithm Capital Corp. $RITM

Key Points

• Bayview Asset Management LLC has reduced its stake in Rithm Capital Corp. by 41.7%, holding 87,500 shares valued at approximately $1,002,000.
• Institutional investors own 44.92% of Rithm Capital's stock, with several firms, including Sheaff Brock and Private Advisor Group, increasing their stakes in the company.
• Wall Street analysts have an average price target of $14.00 for Rithm Capital, with most giving it a Buy or Outperform rating.

Bayview Asset Management LLC lowered its stake in shares of Rithm Capital Corp. (NYSE:RITM - Free Report) by 41.7% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 87,500 shares of the real estate investment trust's stock after selling 62,500 shares during the period. Rithm Capital makes up approximately 0.4% of Bayview Asset Management LLC's portfolio, making the stock its 10th biggest holding. Bayview Asset Management LLC's holdings in Rithm Capital were worth $1,002,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the business. Sheaff Brock Investment Advisors LLC increased its stake in Rithm Capital by 8.8% during the 1st quarter. Sheaff Brock Investment Advisors LLC now owns 11,725 shares of the real estate investment trust's stock worth $134,000 after buying an additional 945 shares during the period. Private Advisor Group LLC grew its position in shares of Rithm Capital by 2.0% during the 1st quarter. Private Advisor Group LLC now owns 50,461 shares of the real estate investment trust's stock valued at $578,000 after buying an additional 974 shares during the last quarter. Fourth Dimension Wealth LLC boosted its stake in Rithm Capital by 50.0% during the 1st quarter. Fourth Dimension Wealth LLC now owns 3,000 shares of the real estate investment trust's stock valued at $34,000 after purchasing an additional 1,000 shares during the period. Vident Advisory LLC boosted its stake in Rithm Capital by 7.3% during the 4th quarter. Vident Advisory LLC now owns 15,509 shares of the real estate investment trust's stock valued at $168,000 after purchasing an additional 1,051 shares during the period. Finally, Townsquare Capital LLC boosted its stake in Rithm Capital by 3.7% during the 1st quarter. Townsquare Capital LLC now owns 30,439 shares of the real estate investment trust's stock valued at $349,000 after purchasing an additional 1,088 shares during the period. Institutional investors and hedge funds own 44.92% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on RITM shares. Royal Bank Of Canada boosted their target price on shares of Rithm Capital from $13.00 to $14.00 and gave the stock an "outperform" rating in a report on Friday, August 1st. Wedbush reissued an "outperform" rating and issued a $14.00 target price on shares of Rithm Capital in a research report on Wednesday, August 6th. Jones Trading boosted their price objective on shares of Rithm Capital from $12.50 to $13.50 and gave the stock a "buy" rating in a research note on Tuesday, July 29th. Keefe, Bruyette & Woods upped their target price on shares of Rithm Capital from $13.50 to $14.00 and gave the company an "outperform" rating in a research note on Tuesday, July 29th. Finally, UBS Group restated a "buy" rating and issued a $14.00 price objective (up previously from $13.00) on shares of Rithm Capital in a research note on Tuesday, July 15th. One analyst has rated the stock with a Strong Buy rating and eight have given a Buy rating to the company. According to data from MarketBeat, Rithm Capital has a consensus rating of "Buy" and a consensus target price of $14.00.

Rithm Capital Stock Performance

Rithm Capital stock traded down $0.24 during mid-day trading on Tuesday, reaching $12.14. 3,325,702 shares of the stock traded hands, compared to its average volume of 4,540,896. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.40 and a quick ratio of 0.40. The business's 50-day moving average is $12.03 and its 200-day moving average is $11.50. The stock has a market capitalization of $6.44 billion, a PE ratio of 9.34 and a beta of 1.30. Rithm Capital Corp. has a 12-month low of $9.13 and a 12-month high of $12.61.

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

Rithm Capital Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, July 31st. Stockholders of record on Monday, June 30th were given a $0.25 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 8.2%. Rithm Capital's dividend payout ratio (DPR) is presently 76.92%.

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.