Rithm Capital Corp. (NYSE:RITM) Shares Sold by LSV Asset Management

Key Points

• LSV Asset Management reduced its stake in Rithm Capital Corp. by 3.7% in Q1, owning 5.4 million shares worth $62 million.
• Rithm Capital reported earnings of $0.54 per share for the last quarter, surpassing estimates and achieving a net margin of 16.72%.
• The company recently announced a quarterly dividend of $0.25 per share, representing an annualized dividend yield of 8.3%.

LSV Asset Management reduced its position in shares of Rithm Capital Corp. (NYSE:RITM - Free Report) by 3.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,425,590 shares of the real estate investment trust's stock after selling 205,800 shares during the quarter. LSV Asset Management owned 1.02% of Rithm Capital worth $62,123,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Sheaff Brock Investment Advisors LLC raised its position in shares of 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 valued at $134,000 after buying an additional 945 shares during the period. Private Advisor Group LLC increased its position in shares of Rithm Capital by 2.0% during the first quarter. Private Advisor Group LLC now owns 50,461 shares of the real estate investment trust's stock worth $578,000 after acquiring an additional 974 shares during the period. Fourth Dimension Wealth LLC increased its position in shares of Rithm Capital by 50.0% during the first quarter. Fourth Dimension Wealth LLC now owns 3,000 shares of the real estate investment trust's stock worth $34,000 after acquiring an additional 1,000 shares during the period. Vident Advisory LLC increased its position in shares of Rithm Capital by 7.3% during the fourth quarter. Vident Advisory LLC now owns 15,509 shares of the real estate investment trust's stock worth $168,000 after acquiring an additional 1,051 shares during the period. Finally, Sowell Financial Services LLC increased its position in shares of Rithm Capital by 3.2% during the first quarter. Sowell Financial Services LLC now owns 35,680 shares of the real estate investment trust's stock worth $409,000 after acquiring an additional 1,108 shares during the period. 44.92% of the stock is owned by hedge funds and other institutional investors.

Rithm Capital Stock Performance

NYSE RITM traded up $0.10 during trading hours on Thursday, hitting $12.23. The company had a trading volume of 397,109 shares, compared to its average volume of 4,476,139. Rithm Capital Corp. has a 1-year low of $9.13 and a 1-year high of $12.59. The company has a market cap of $6.49 billion, a PE ratio of 9.40 and a beta of 1.25. The business has a 50 day moving average of $11.63 and a 200-day moving average of $11.41. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.35 and a current ratio of 0.40.

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

Rithm Capital Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Jones Trading upped their price objective on Rithm Capital from $12.50 to $13.50 and gave the stock a "buy" rating in a research report on Tuesday, July 29th. Keefe, Bruyette & Woods increased their target price on Rithm Capital from $13.50 to $14.00 and gave the company an "outperform" rating in a report on Tuesday, July 29th. BTIG Research reissued a "buy" rating and issued a $16.00 target price on shares of Rithm Capital in a report on Friday, April 25th. UBS Group reissued a "buy" rating and issued a $14.00 target price (up previously from $13.00) on shares of Rithm Capital in a report on Tuesday, July 15th. Finally, Wedbush reissued an "outperform" rating and issued a $14.00 target price on shares of Rithm Capital in a report on Wednesday. Eight 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, the company has a consensus rating of "Buy" and an average target price of $14.00.

About Rithm Capital

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.